Pharos Energy PLC has announced the purchase and cancellation of 62,533 ordinary shares as part of its share buyback programme. The shares were acquired on 11th March 2024 through Peel Hunt LLP, with a volume weighted average price of 19.3000 pence per share. Following the transaction, the company will have 430,712,521 ordinary shares in issue, with 9,122,268 shares held in treasury. Shareholders can use the figure of 421,590,253 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 21,632,906 ordinary shares for cancellation at a cost of £5,076,237.29, excluding stamp duty and dealing expenses. 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.
Jann Brown, Chief Executive Officer, and Sue Rivett, Chief Financial Officer, can be contacted for further information. The company's share buyback programme aims to optimize its capital structure and enhance shareholder value. This recent update reflects the company's commitment to returning value to its shareholders and maintaining transparency in its transactions.