Pharos Energy PLC has announced the purchase and cancellation of 64,029 ordinary shares of £0.05 each in the Company through Peel Hunt LLP as part of its share buyback programme. The highest and lowest price paid per share was 19.0199 pence, with a volume-weighted average price paid per share also at 19.0199 pence. Following the purchase and cancellation, the Company will have 430,775,054 Ordinary Shares of £0.05 each in issue, with 9,122,268 Ordinary Shares held in treasury.
The Company has purchased a total of 21,570,373 Ordinary Shares for cancellation since the initiation of the earlier phase of the share buyback programme, at a cost (excluding stamp duty and dealing expenses) of £5,064,168.42. The detailed information of the individual trades made by Peel Hunt as part of the Programme is provided in accordance with the Market Abuse Regulation.
Jann Brown, Chief Executive Officer, and Sue Rivett, Chief Financial Officer, are the primary contacts for further information. The Company's share buyback programme aims to optimize its capital structure and enhance shareholder value. Shareholders may use the updated figure of 421,652,786 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.