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 19 August 2024, the company bought 93,637 ordinary shares at a volume-weighted average price of 24.9000 pence per share. Following the purchase and cancellation, the company will have 425,513,231 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. The figure of 416,390,963 may be used by shareholders as the denominator for calculating their interest in the company under the FCA's Disclosure Guidance and Transparency Rules.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 26,832,196 ordinary shares for cancellation at a cost of £6,316,441.14, excluding stamp duty and dealing expenses. The company provided detailed information on the individual trades made by Peel Hunt as part of the programme, including the number of shares purchased, transaction price, time of transaction, and execution venue.
For further information, interested parties can contact Pharos Energy PLC or Camarco. The company's Chief Executive Officer, Katherine Roe, and Chief Financial Officer, Sue Rivett, can be reached at 0207 7747 2000. Camarco can be contacted at 020 3757 4980. This update provides insight into Pharos Energy PLC's recent activities related to its share buyback programme, offering transparency to shareholders and the market.