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 4th March 2024, the company acquired 61,573 ordinary shares at a volume-weighted average price of 19.5000 pence per share. Following the purchase and cancellation, the company will have 431,006,580 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 bought a total of 21,338,847 ordinary shares for cancellation at a cost of £5,019,296.43, excluding stamp duty and dealing expenses. The company has provided detailed information on individual transactions made by Peel Hunt as part of the programme, in accordance with the UK version of the Market Abuse Regulation.
Shareholders may use the figure of 421,884,312 as the denominator for calculating whether they are required to notify their interest in, or a change to their interest in, the company under the FCA's Disclosure Guidance and Transparency Rules. For further information, interested parties can contact Pharos Energy PLC or Camarco, the company's communications advisor.
This update provides insight into Pharos Energy PLC's ongoing efforts to manage its share capital and optimize its capital structure, ultimately aiming to enhance shareholder value and maintain transparency in its market activities.