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 26th March 2024, the company acquired 74,626 ordinary shares at a volume-weighted average price of 20.9950 pence per share. Following the purchase and cancellation, the company will have 430,300,839 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. The figure of 421,178,571 may be used by shareholders as the denominator for calculating their interest in the company under the FCA's Disclosure Guidance and Transparency Rules.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 22,044,588 ordinary shares for cancellation at a cost of £5,157,277.46, excluding stamp duty and dealing expenses. The detailed information of the individual trades made by Peel Hunt as part of the Programme is provided in accordance with the Market Abuse Regulation.
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, can be reached at 0207 7747 2000. Camarco can be contacted at 020 3757 4980.
This update provides insight into Pharos Energy PLC's recent activity in its share buyback programme, offering transparency and clarity to shareholders and the market.