Pharos Energy PLC has announced the purchase and cancellation of 90,117 ordinary shares as part of its share buyback programme. The highest and lowest price paid per share was 23.0000 pence, with a volume-weighted average price of 23.0000 pence per share. Following the purchase and cancellation, the company will have 427,792,459 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. The total cost of the share buyback programme, excluding stamp duty and dealing expenses, is £5,740,511.44.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 24,552,968 ordinary shares for cancellation. The company provided detailed information on the individual trades made by Peel Hunt as part of the programme, in accordance with the Market Abuse Regulation.
The company's CEO, Jann Brown, and CFO, Sue Rivett, are available for further information. The contact details for Pharos Energy PLC and its communications agency, Camarco, were also provided for any inquiries. This update on the share buyback programme is in line with the company's ongoing efforts to manage its capital structure and enhance shareholder value.