Pharos Energy PLC has announced the purchase and cancellation of a number of its ordinary shares as part of its share buyback programme. On 2 April 2024, the company bought 77,818 ordinary shares at a volume weighted average price of 21.1660 pence per share through Peel Hunt LLP. Following the purchase and cancellation, the company will have 430,075,710 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 22,269,717 ordinary shares for cancellation at a cost of £5,204,787.64, excluding stamp duty and dealing expenses. The company has provided detailed information on the individual trades made by Peel Hunt as part of the programme, in accordance with the Market Abuse Regulation.
Shareholders may use the figure of 420,953,442 as the denominator for calculating whether they are required to notify their interest in, or a change to their interest in, the company under the FCA's Disclosure Guidance and Transparency Rules. For further information, interested parties can contact Pharos Energy PLC or Camarco, the company's communications advisor.