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The latest announcement is out from Pharos Energy ( (GB:PHAR) ).
Pharos Energy plc has announced the purchase and cancellation of 112,908 ordinary shares as part of its ongoing share buyback programme. This initiative, which began in July 2022, aims to optimize the company’s capital structure and potentially enhance shareholder value. The total number of shares purchased under this programme has reached over 30 million, costing the company approximately £7.1 million. This strategic move underscores Pharos Energy’s commitment to efficient capital management and reflects its focus on delivering sustainable returns to its stakeholders.
More about Pharos Energy
Pharos Energy plc is an independent energy company focused on sustainable growth and returns to stakeholders, and is listed on the London Stock Exchange. The company has production, development, and exploration interests primarily in Egypt and Vietnam. In Egypt, Pharos holds a 45% working interest in both the El Fayum and North Beni Suef concessions. In Vietnam, it has a significant presence in the Te Giac Trang and Ca Ngu Vang fields, with plans to adjust its working interests in the coming years.
YTD Price Performance: 6.67%
Average Trading Volume: 200
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $131.7M
See more data about PHAR stock on TipRanks’ Stock Analysis page.
