Pharos Energy PLC has announced the purchase and cancellation of 47,027 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 23.0000 pence. Following the purchase and cancellation, the company will have 429,089,164 ordinary shares in issue, with 9,122,268 held in treasury. The total cost of the share buyback programme, excluding stamp duty and dealing expenses, amounts to £5,429,395.30.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 23,256,263 ordinary shares for cancellation. The company has provided detailed information on individual trades made by Peel Hunt as part of the programme, in accordance with the Market Abuse Regulation.
Shareholders may use the figure of 419,966,896 as the denominator for calculating whether they are required to notify 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 share buyback programme, demonstrating the company's commitment to optimizing its capital structure and returning value to shareholders.