Pharos Energy PLC has announced the purchase and cancellation of 47,091 ordinary shares as part of its share buyback programme. The highest and lowest price paid per share was 19.5000 pence, with a volume-weighted average price of 19.5000 pence per share. Following the purchase and cancellation, the company will have 431,177,024 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. The figure of 422,054,756 may be used by shareholders as the denominator for calculating their interest in the company.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 21,168,403 ordinary shares for cancellation at a cost of £4,985,963.50, excluding stamp duty and dealing expenses. 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, can be contacted for further information. The company's share buyback programme aims to optimize its capital structure and enhance shareholder value. This update reflects the company's commitment to returning value to its shareholders and maintaining transparency in its transactions.