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 14 February 2024, the company bought 41,935 ordinary shares at a volume weighted average price of 20.9000 pence per share. Following the purchase and cancellation, the company will have 431,359,120 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 20,986,307 ordinary shares for cancellation at a cost of £4,949,335.47, excluding stamp duty and dealing expenses. The company 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 CEO, Jann Brown, and CFO, Sue Rivett, are available for further information. The announcement provides shareholders with the necessary information for calculating their interest in the company under the FCA's Disclosure Guidance and Transparency Rules. This update reflects the company's ongoing efforts to manage its share capital and optimize its capital structure.