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 31 May 2024, the company acquired 53,197 ordinary shares at a volume-weighted average price of 23.7650 pence per share. Following the purchase and cancellation, the company will have 428,828,563 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has bought a total of 23,516,864 ordinary shares for cancellation at a cost of £5,491,531.84, 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 the Market Abuse Regulation.
The company has also provided contact information for further inquiries. Shareholders may use the figure of 419,706,295 as the denominator 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 recent activities in managing its share capital and demonstrates the company's commitment to enhancing shareholder value through the efficient use of its capital resources.