Pharos Energy Advances Share Buyback Initiative

Pharos Energy (GB:PHAR) has released an update.

Pharos Energy PLC has actively continued its share buyback program, purchasing 81,356 of its own ordinary shares at a volume weighted average price of 25.7000 pence per share, which will be cancelled to manage share capital. Following this transaction, Pharos Energy’s total number of shares in issue stands at 425,047,588, with the treasury holding 9,122,268 shares. This move is part of a larger initiative that has seen the company buy back over 27 million shares since July 2022, aiming to boost shareholder value.

For further insights into GB:PHAR stock, check out TipRanks’ Stock Analysis page.