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 18th March 2024, the company bought 51,672 ordinary shares at a volume-weighted average price of 19.2500 pence per share. Following this transaction, the company will have 430,492,404 ordinary shares in issue, with 9,122,268 shares held in treasury.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 21,853,023 ordinary shares for cancellation at a cost of £5,118,041.31, 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 has also provided contact information for further inquiries. Shareholders can use the figure of 421,370,136 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 ongoing share buyback programme, demonstrating the company's commitment to enhancing shareholder value and optimizing its capital structure.