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 June 2024, the company acquired 57,161 ordinary shares at a volume weighted average price of 24.1000 pence per share. Following the purchase and cancellation, the company will have 428,771,402 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 23,574,025 ordinary shares for cancellation at a cost of £5,505,307.64, excluding stamp duty and dealing expenses. The company has 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 Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, are available for further information. The contact details for Pharos Energy PLC and its communications agency, Camarco, have been provided for any inquiries.
This update provides insight into Pharos Energy PLC's recent activity in its share buyback programme, demonstrating the company's commitment to managing its capital structure and returning value to its shareholders.