Pharos Energy PLC has announced the purchase and cancellation of 33,149 ordinary shares of £0.05 each in the Company through Peel Hunt LLP as part of its share buyback programme. The highest and lowest price paid per share was 23.5000 pence, with a volume-weighted average price paid per share also at 23.5000 pence. Following the purchase and cancellation, the Company will have 429,333,685 Ordinary Shares of £0.05 each in issue, with 9,122,268 Ordinary Shares held in treasury.
Since the initiation of the earlier phase of the Company's share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 23,011,742 Ordinary Shares for cancellation at a cost (excluding stamp duty and dealing expenses) of £5,373,461.84. The company has provided detailed information of the individual trades made by Peel Hunt as part of the Programme in accordance with the Market Abuse Regulation.
The Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, are available for further information. The company's contact details are provided for any inquiries. This update provides transparency and insight into Pharos Energy PLC's recent share buyback activities, demonstrating the company's commitment to its shareholders and financial strategy.