Pharos Energy PLC has announced the purchase and cancellation of a specific number of its ordinary shares through Peel Hunt LLP. On 19th March 2024, the company purchased 49,960 ordinary shares at a volume-weighted average price of 19.3000 pence per share. Following the purchase and cancellation, the company will have 430,442,444 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. This leaves 421,320,176 shares as the denominator for calculating shareholders' interest under the FCA's Disclosure Guidance and Transparency Rules.
Since the initiation of the earlier phase of the company's share buyback program in July 2022, Pharos Energy PLC has purchased a total of 21,902,983 ordinary shares for cancellation at a cost of £5,127,683.59, excluding stamp duty and dealing expenses. The detailed information of the individual trades made by Peel Hunt as part of the program is provided in accordance with the Market Abuse Regulation.
The company has also provided contact information for further inquiries. Jann Brown, Chief Executive Officer, and Sue Rivett, Chief Financial Officer, can be reached at Pharos Energy PLC, while Camarco can be contacted for media inquiries. This announcement provides a clear insight into the company's recent financial activities and its impact on the total number of outstanding shares.