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Pharos Energy ( (GB:PHAR) ) has provided an announcement.
Pharos Energy plc announced the cancellation of 9,122,268 ordinary shares previously held in treasury, resulting in no ordinary shares remaining in treasury. This action aligns with the provisions of section 729 of the Companies Act 2006 and impacts the total number of voting rights, now standing at 415,623,935. The cancellation reflects Pharos Energy’s strategic financial management, potentially enhancing shareholder value and transparency in line with UK Listing Rules.
The most recent analyst rating on (GB:PHAR) stock is a Hold with a £24.00 price target. To see the full list of analyst forecasts on Pharos Energy stock, see the GB:PHAR Stock Forecast page.
Spark’s Take on GB:PHAR Stock
According to Spark, TipRanks’ AI Analyst, GB:PHAR is a Outperform.
Pharos Energy’s strong valuation metrics and positive technical indicators drive its score, despite challenges in financial performance. The absence of earnings call data and recent positive corporate developments suggest potential for future growth.
To see Spark’s full report on GB:PHAR stock, click here.
More about Pharos Energy
Pharos Energy plc is an independent energy company focused on delivering sustainable growth and returns to stakeholders, with a portfolio of stable production, development, and exploration assets in Vietnam and Egypt. Led by an experienced team, Pharos is a cash generative business with a robust balance sheet and an established platform to deliver both organic growth and inorganic opportunities. Pharos is listed on the Main Market of the London Stock Exchange.
Average Trading Volume: 607,312
Technical Sentiment Signal: Buy
Current Market Cap: £89.37M
Learn more about PHAR stock on TipRanks’ Stock Analysis page.