Pharos Energy PLC has announced the purchase and cancellation of 68,928 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 21.9000 pence. Following the purchase and cancellation, the company will have 431,735,305 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 £4,870,643.39.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 20,610,122 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 Market Abuse Regulation.
Jann Brown, Chief Executive Officer, and Sue Rivett, Chief Financial Officer, are available for further information. The company's contact details and those of its communications agency, Camarco, have been provided for any inquiries. This update marks a significant development in Pharos Energy PLC's ongoing share buyback programme, demonstrating the company's commitment to enhancing shareholder value and optimizing its capital structure.