Pharos Energy (GB:PHAR) has released an update.
Pharos Energy PLC has continued its share buyback program by purchasing 121,407 Ordinary Shares at 24.90 pence per share, which will consequently be cancelled, as part of its ongoing strategy for sustainable growth and returns to stakeholders. This latest buyback, conducted through Peel Hunt LLP, contributes to a total of 25,251,362 shares bought back for cancellation since July 2022, at a cost of nearly £5.91 million. Following the cancellation, Pharos Energy will have 417,971,797 Ordinary Shares in issue, with the aim to enhance shareholder value.
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