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 4 July 2024, the company acquired 96,106 ordinary shares at a volume-weighted average price of 23.8560 pence per share. Following the purchase and cancellation, the company will have 427,696,353 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 24,649,074 ordinary shares for cancellation at a cost of £5,763,438.49, 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 Market Abuse Regulation.
The company's Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, are available for further information. For media inquiries, Camarco can be contacted. The company has also provided contact details for Billy Clegg, Rebecca Waterworth, Kirsty Duff, and Andrew Turner at Camarco.
This update provides insight into Pharos Energy PLC's recent activity in its share buyback programme, offering transparency and clarity to shareholders and the public.