Pharos Energy PLC has announced the purchase and cancellation of 70,498 ordinary shares as part of its share buyback programme. The highest and lowest price paid per share was 24.7163 pence, with a volume-weighted average price paid per share also at 24.7163 pence. Following the purchase and cancellation, the company will have 428,025,409 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. The total cost of the share buyback programme, excluding stamp duty and dealing expenses, is £5,686,797.85.
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 has purchased a total of 24,320,018 ordinary shares for cancellation since the initiation of the earlier phase of the share buyback programme announced on 20 July 2022. Shareholders may use the figure of 418,903,141 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 Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, are available for inquiries. The company's share buyback programme update provides transparency and insight into its recent transactions and financial position.