Pharos Energy PLC has announced the purchase and cancellation of a specific number of its ordinary shares through Peel Hunt LLP as part of its share buyback programme. On 30 July 2024, the company acquired 89,025 ordinary shares at a volume-weighted average price of 26.8000 pence per share. Following the purchase and cancellation, the company will have 426,496,671 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. Shareholders may use the figure of 417,374,403 as the denominator for calculating their interest in the company under the FCA's Disclosure Guidance and Transparency Rules.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 25,848,756 ordinary shares for cancellation at a cost of £6,064,699.39, excluding stamp duty and dealing expenses. The detailed information of the individual trades made by Peel Hunt as part of the Programme is provided in accordance with the UK version of 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 a comprehensive update on the company's share buyback programme, including the number of shares purchased, transaction prices, and execution venue. This update reflects the company's ongoing commitment to its share buyback programme and its efforts to optimize its capital structure.