Pharos Energy PLC has announced the purchase and cancellation of 55,185 ordinary shares as part of its share buyback programme. The shares were acquired through Peel Hunt LLP, with the highest and lowest price paid per share being 25.4000 pence. Following the purchase and cancellation, the company will have 426,915,685 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. Since the initiation of the share buyback programme in July 2022, the company has purchased a total of 25,429,742 ordinary shares for cancellation at a cost of £5,955,338.83, 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 transactions were executed on the London Stock Exchange, with 55,185 shares purchased at a price of 25.4000 pence per share at 16:31:28 on the execution venue XLON.
For further information, interested parties can contact Pharos Energy plc or Camarco. Pharos Energy plc can be reached at 0207 7747 2000, and Camarco at 020 3757 4980. The company's Chief Executive Officer, Katherine Roe, and Chief Financial Officer, Sue Rivett, are available for inquiries.
This update provides insight into Pharos Energy PLC's ongoing share buyback programme, demonstrating the company's commitment to managing its capital structure and returning value to shareholders.