Pharos Energy PLC has announced the purchase and cancellation of 52,843 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 19.4500 pence. Following the transaction, the company will have 430,597,136 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 £5,098,398.80.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 21,748,291 ordinary shares for cancellation. The company has provided detailed information on the individual trades made by Peel Hunt as part of the programme, in accordance with the UK version of the Market Abuse Regulation.
The company's Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, are available for further information. Pharos Energy PLC can be contacted at 0207 7747 2000, while Camarco can be reached at 020 3757 4980 for any inquiries.
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 its shareholders.