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 July 2024, the company acquired 31,966 ordinary shares at a volume-weighted average price of 25.0000 pence per share. Following the purchase and cancellation, the company will have 426,883,719 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 bought a total of 25,461,708 ordinary shares for cancellation at a cost of £5,963,330.33, 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, Katherine Roe, and CFO, Sue Rivett, are available for further information. The announcement provides shareholders with the necessary information for calculating whether they are required to notify their interest in, or a change to their interest in, the company under the FCA's Disclosure Guidance and Transparency Rules.
This update reflects Pharos Energy PLC's ongoing commitment to managing its share capital and returning value to its shareholders through the execution of its share buyback programme.