Pharos
Energy plc
("Pharos"
or the "Company" or, together with its subsidiaries, the
"Group")
Transaction in Own
Shares
Pharos Energy plc, announces that on
21 November 2024, in accordance with the terms of the extension of
its share buyback programme announced on 6 December 2023 (the
"Programme"), it purchased the following number of ordinary shares
of £0.05 each in the Company ("Ordinary Shares") through Peel Hunt
LLP ("Peel Hunt"). The shares purchased will be
cancelled.
|
Date of
purchases
|
21 November
2024
|
|
|
|
|
Aggregate
number of Ordinary Shares purchased
|
16,077
|
|
Highest
price paid per share (pence per share):
|
22.6000
|
|
Lowest
price paid per share (pence per share):
|
22.6000
|
|
Volume
weighted average price paid per share (pence per share):
|
22.6000
|
Following the purchase and
cancellation, the Company will have 424,885,621 Ordinary Shares of
£0.05 each in issue, of which 9,122,268 Ordinary Shares are held in
treasury. Therefore, the figure of 415,763,353 may be used by
shareholders as the denominator for calculating whether they are
required to notify their interest in, or a change to their interest
in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Since initiation of the earlier
phase of the Company's share buyback programme announced on 20 July
2022, the Company has purchased a total of 29,337,288 Ordinary
Shares for cancellation at a cost (excluding stamp duty and dealing
expenses) of £6,921,638.68.
In accordance with Article 5(1)(b)
of the UK version of Regulation (EU) No. 596/2014 (the "Market
Abuse Regulation") which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, the tables below contain
detailed information of the individual trades made by Peel Hunt as
part of the Programme.
Individual transactions on
LSE:
|
Number of shares
purchased
|
Transaction price (pence per
share)
|
Time of
transaction
|
Execution
venue
|
|
16,077
|
22.6000
|
15:53:35
|
XLON
|
For further
information, please contact:
Pharos Energy plc
Tel: 0207 7747 2000
Katherine Roe, Chief Executive
Officer
Sue Rivett, Chief Financial
Officer
Camarco
Tel: 020 3757 4980
Billy Clegg |Georgia Edmonds |Violet
Wilson |Kirsty Duff
Notes to editors
Pharos Energy plc is an
independent oil and gas exploration and production company with a
focus on sustainable growth and returns to stakeholders, which is
listed on the London Stock Exchange. Pharos has production,
development and/or exploration interests in Egypt and Vietnam. In
Egypt, Pharos holds a 45% working interest share in the El Fayum
Concession in the Western Desert, with IPR Lake Qarun, part of the
international integrated energy business IPR Energy Group,
holding the remaining 55% working interest. The El Fayum Concession
produces oil from 10 fields and is located 80 km southwest of
Cairo. It is operated by Petrosilah, a 50/50 joint stock company
between the contractor parties (being IPR Lake Qarun and Pharos)
and the Egyptian General Petroleum Corporation (EGPC).
Pharos also holds a 45% working interest share in the North Beni
Suef (NBS) Concession in Egypt, which is located immediately south
of the El Fayum Concession. The first development lease on the NBS
Concession was awarded in September 2023 and production started in
December 2023. IPR Lake Qarun operates and holds the
remaining 55% working interest in the NBS Concession. In Vietnam,
Pharos has a 30.5% working interest in Block 16-1 which contains
97% of the Te Giac Trang (TGT) field and is operated by
the Hoang Long Joint Operating Company. Pharos' unitised
interest in the TGT field is 29.7%. Pharos also has a 25% working
interest in the Ca Ngu Vang (CNV) field located in Block 9-2, which
is operated by the Hoan Vu Joint Operating Company. Blocks
16-1 and 9-2 are located in the shallow water Cuu Long Basin,
offshore southern Vietnam. Pharos also holds a 70% interest in, and
is designated operator of, Blocks 125 & 126, located in the
moderate to deep water Phu Khanh Basin, north east of
the Cuu Long Basin, offshore central Vietnam.