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Pharos Energy ( (GB:PHAR) ) has provided an update.
Pharos Energy plc announced the purchase and cancellation of 119,635 ordinary shares as part of its ongoing share buyback programme. This move is part of a broader strategy to optimize its capital structure and potentially enhance shareholder value. The company’s share buyback initiative, started in July 2022, has seen the purchase of over 30 million shares amounting to over £7 million, reflecting its commitment to return value to shareholders and maintain robust financial health.
More about Pharos Energy
Pharos Energy plc is an independent energy company listed on the London Stock Exchange, focusing on sustainable growth and stakeholder returns. The company has production, development, and exploration interests in Egypt and Vietnam. In Egypt, Pharos holds working interest shares in the El Fayum and North Beni Suef Concessions, producing oil from multiple fields. In Vietnam, it holds interests in the Te Giac Trang and Ca Ngu Vang fields and is involved in offshore exploration in the Phu Khanh Basin.
YTD Price Performance: 10.49%
Average Trading Volume: 200
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $137.8M
For detailed information about PHAR stock, go to TipRanks’ Stock Analysis page.
