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 18 June 2024, the company bought 57,684 ordinary shares at a volume weighted average price of 24.6400 pence per share. Following the purchase and cancellation, the company will have 428,280,571 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 24,064,856 ordinary shares for cancellation at a cost of £5,624,261.27, 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 has also provided contact information for further inquiries. This update reflects the company's ongoing efforts to manage its capital structure and optimize shareholder value through the repurchase of its own shares.