Pharos Energy (GB:PHAR) has released an update.
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Pharos Energy has announced the purchase and cancellation of 69,066 ordinary shares as part of its ongoing share buyback program, which began in July 2022. The company has bought back a total of 28.9 million shares, costing approximately £6.8 million, thereby reducing the number of shares in circulation and potentially increasing shareholder value. Investors might view these buybacks as a positive sign of financial health and confidence in the company’s future prospects.
For further insights into GB:PHAR stock, check out TipRanks’ Stock Analysis page.