Pharos Energy PLC has announced the purchase and cancellation of 71,200 ordinary shares as part of its share buyback programme. The highest and lowest price paid per share was 21.9010 pence, with a volume-weighted average price of 21.9010 pence per share. Following the purchase and cancellation, the company will have 431,804,233 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. The figure of 422,681,965 may be used by shareholders as the denominator for calculating their interest in the company.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 20,541,194 ordinary shares for cancellation at a cost of £4,855,548.16, excluding stamp duty and dealing expenses. The detailed information of the individual trades made by Peel Hunt as part of the programme is provided 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 can be contacted at 0207 7747 2000. Additionally, Camarco can be reached at 020 3757 4980 for any inquiries.
This update provides insight into Pharos Energy PLC's recent activity in its share buyback programme, offering transparency and clarity to shareholders and the market.