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 3 April 2024, the company acquired 13,520 ordinary shares at a volume-weighted average price of 21.0000 pence per share. Following the purchase and cancellation, the company will have 430,062,190 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury.
The total cost of the share buyback programme, excluding stamp duty and dealing expenses, amounts to £5,207,626.84 since the initiation of the earlier phase in July 2022. The company has purchased a total of 22,283,237 ordinary shares for cancellation. The detailed information of the individual trades made by Peel Hunt as part of the programme is provided in accordance with the UK version of the Market Abuse Regulation.
The company's CEO, Jann Brown, and CFO, Sue Rivett, are available for further information. The contact details for Pharos Energy PLC and its communications agency, Camarco, are also provided for any inquiries. This update provides shareholders with the necessary information for calculating their interest in the company under the FCA's Disclosure Guidance and Transparency Rules.
This announcement signifies the company's ongoing commitment to its share buyback programme and provides transparency regarding the individual trades made as part of the programme.