Pharos Energy PLC has disclosed the latest update on its share buyback programme, revealing that on 12 March 2024, it purchased 62,542 ordinary shares through Peel Hunt LLP. The shares, bought at a price ranging from 19.0009 pence per share, will be subsequently cancelled. Following this transaction, the company will have 430,649,979 ordinary shares in issue, with 9,122,268 shares held in treasury. Shareholders can use the figure of 421,527,711 as the denominator for calculating their interest in the company. Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy has purchased a total of 21,695,448 ordinary shares for cancellation at a cost of £5,088,120.83, 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 UK version of Regulation (EU) No. 596/2014. The disclosed transactions include the number of shares purchased, transaction price, time of transaction, and execution venue. For further information, interested parties can contact Pharos Energy plc or Camarco. The former can be reached at 0207 7747 2000, with Jann Brown, Chief Executive Officer, and Sue Rivett, Chief Financial Officer, as the primary contacts. Camarco can be contacted at 020 3757 4980, with Billy Clegg, Rebecca Waterworth, Kirsty Duff, and Andrew Turner as the main points of contact.
This update provides insight into Pharos Energy's ongoing efforts to manage its share capital and optimize its capital structure, ultimately aiming to enhance shareholder value.