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 program. On 4 January 2024, the company purchased 75,637 ordinary shares at a volume-weighted average price of 21.5000 pence per share. Following the purchase and cancellation, the company will have 431,951,306 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury.
The total cost of the share buyback program, excluding stamp duty and dealing expenses, amounts to £4,822,883.22 since the initiation of the earlier phase of the program in July 2022. The company has purchased a total of 20,394,121 ordinary shares for cancellation. Shareholders may use the figure of 422,829,038 as the denominator for calculating whether they are required to notify their interest in the company under the FCA's Disclosure Guidance and Transparency Rules.
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 additional information.
This announcement provides transparency regarding the company's share buyback program and its impact on the total number of ordinary shares in issue. It also offers insight into the cost and volume of shares purchased for cancellation, in compliance with relevant regulations.