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Pharos Energy ( (GB:PHAR) ) just unveiled an update.
Pharos Energy plc announced the purchase and cancellation of 90,020 ordinary shares as part of its ongoing share buyback program. This transaction, executed through Peel Hunt LLP, is part of a strategy to optimize the company’s capital structure. Since the onset of the buyback program, Pharos has repurchased over 30 million shares, demonstrating its commitment to enhancing shareholder value. The cancellation of shares affects the total shares in circulation, influencing shareholder calculations under the FCA’s Disclosure Guidance and Transparency Rules.
More about Pharos Energy
Pharos Energy plc is an independent energy company focused on sustainable growth and returns to stakeholders, listed on the London Stock Exchange. The company has production, development, and exploration interests in Egypt and Vietnam. In Egypt, it holds a 45% working interest in the El Fayum and North Beni Suef concessions. In Vietnam, it has interests in Blocks 16-1 and 9-2, located in the Cuu Long Basin, and also operates Blocks 125 & 126 in the Phu Khanh Basin.
YTD Price Performance: 6.67%
Average Trading Volume: 200
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $124.8M
For a thorough assessment of PHAR stock, go to TipRanks’ Stock Analysis page.
