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