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Pharos Energy ( (GB:PHAR) ) has shared an update.
Pharos Energy plc announced the purchase and cancellation of 110,674 ordinary shares as part of its share buyback program, a continuation from the program initiated in July 2022. This transaction underscores the company’s efforts to manage its capital structure and deliver value to stakeholders, as it has bought back over 30 million shares since the program’s initiation, reflecting a strategic focus on shareholder returns.
More about Pharos Energy
Pharos Energy plc is an independent energy company listed on the London Stock Exchange, focusing on sustainable growth and returns. It has production, development, and exploration interests in Egypt and Vietnam. In Egypt, the company holds significant interests in the El Fayum and North Beni Suef concessions, while in Vietnam, it has interests in the Te Giac Trang and Ca Ngu Vang fields, as well as Blocks 125 & 126.
YTD Price Performance: 11.67%
Average Trading Volume: 200
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $137.2M
See more insights into PHAR stock on TipRanks’ Stock Analysis page.
