Pharos Energy PLC has announced the purchase and cancellation of a number of its ordinary shares as part of its share buyback programme. On 26th February 2024, the company bought 45,402 ordinary shares at a volume weighted average price of 19.5000 pence per share through Peel Hunt LLP. Following the purchase and cancellation, the company will have 431,224,115 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 purchased a total of 21,121,312 ordinary shares for cancellation at a cost of £4,976,780.76, 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.
Jann Brown, Chief Executive Officer of Pharos Energy PLC, and Sue Rivett, Chief Financial Officer, are available for further information. The company has also provided contact details for Camarco for any additional inquiries.
This update provides insight into Pharos Energy PLC's ongoing share buyback programme, demonstrating the company's commitment to enhancing shareholder value and optimizing its capital structure.