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Pharos Energy ( (GB:PHAR) ) just unveiled an announcement.
Pharos Energy plc has announced the purchase and cancellation of 113,596 ordinary shares as part of its extended share buyback program. This move is part of a broader strategy initiated in July 2022, where the company has repurchased over 30 million shares. The cancellation of shares aims to enhance shareholder value and reflects Pharos Energy’s commitment to returning capital to its stakeholders. This activity reduces the company’s total outstanding shares, impacting shareholder calculations under regulatory guidance.
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 operates in Egypt, where it has interests in the El Fayum and North Beni Suef concessions, and in Vietnam, with interests in Blocks 16-1, 9-2, and 125 & 126. The company is involved in production, development, and exploration activities, with significant interests in oil fields in these regions.
YTD Price Performance: 11.67%
Average Trading Volume: 200
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $137.2M
For an in-depth examination of PHAR stock, go to TipRanks’ Stock Analysis page.
