Pharos Energy PLC has announced the purchase and cancellation of 85,844 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 26.0000 pence, with a volume-weighted average price paid per share also at 26.0000 pence. Following the purchase and cancellation, the Company will have 426,239,551 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 26,105,876 Ordinary Shares for cancellation at a cost (excluding stamp duty and dealing expenses) of £6,133,773.26. 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 company's Chief Executive Officer, Katherine Roe, and Chief Financial Officer, Sue Rivett, are available for further information. The announcement provides shareholders with the necessary information 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.
This update provides transparency and insight into Pharos Energy PLC's ongoing share buyback programme, demonstrating the company's commitment to managing its capital structure and returning value to its shareholders.