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 5th March 2024, the company acquired 61,084 ordinary shares at a volume-weighted average price of 19.5000 pence per share. Following the purchase and cancellation, the company will have 430,945,496 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 21,399,931 ordinary shares for cancellation at a cost of £5,031,207.81, 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 CEO, Jann Brown, and CFO, Sue Rivett, are available for further information. The announcement also includes contact details for Camarco, the company's communications advisor. This update provides shareholders with the necessary information for calculating their interest in the company under the FCA's Disclosure Guidance and Transparency Rules.
This announcement reflects Pharos Energy PLC's ongoing commitment to its share buyback programme and its efforts to provide transparency and information to its shareholders and the market.