REG - Pharos Energy PLC - Directors/PDMR Shareholdings

Pharos EnergyAnnouncement

28/02/2025 07:30

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RNS Number : 7792Y  Pharos Energy PLC  28 February 2025

 

Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

DIRECTORS/PDMR SHAREHOLDINGS

Share Purchases by Directors

 

The Company was notified on 27 February 2025 that, on the same day, Katherine
Roe, the Chief Executive Officer and Sue Rivett, the Chief Financial Officer,
purchased Pharos Energy plc ordinary shares of £0.05 each ("Shares") at a
purchase price of £0.24372 per Share. The Shares were purchased on the open
market pursuant to trading plans entered into by the Directors on 26 September
2024 and 19 April 2022 respectively.

 

 Director                                Number of Shares purchased  Total number of Shares held following purchase  % of Company's Issued Capital (excluding treasury shares)
 Katherine Roe, Chief Executive Officer  6,042                       36,712                                          0.009%
 Sue Rivett, Chief Financial Officer     4,001                       1,149,990                                       0.278%

 

For further information, please contact:

Pharos Energy plc
 
Tel: 0207 603 1515

Tony Hunter, Company Secretary

Notes to editors

Pharos Energy plc is an independent energy 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 currently 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 currently 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. Following the announcement by Pharos in December 2024 of
approval a five year extension to the terms of the petroleum contracts for
Blocks 16-1 and 9-2, together with associated changes to fiscal terms and
participating interests, Pharos will hold a revised working interest in Block
16-1 (TGT) of 25.33% with effect from 8 December 2026 and a revised working
interest in Block 9-2 (CNV) of 20% with effect from 16 December 2027. 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.

 

 1    Details of the person discharging managerial responsibilities

 a)   Name                                                         KATHERINE ROE
 2    Reason for the notification
 a)   Position/status                                              Chief Executive Officer

 b)   Initial notification /Amendment                              Initial notification
 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 a)   Name                                                         PHAROS ENERGY PLC

 b)   LEI                                                          549300DDKLXYLLO4N524

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  ORDINARY SHARES OF £0.05 EACH

      Identification code

                                                                   GB00B572ZV91
 b)   Nature of the transaction                                    Acquisition of Shares

 c)   Price(s) and volume(s)                                       Price(s)   Volume(s)

                                                            £0.24372   6,042

 d)   Aggregated information

      -       Aggregated volume                                    6,042

      -       Price                                                £1,472.56

 e)   Date of the transaction                                      27/02/25

 f)   Place of the transaction                                     X-LON

d)

 

Aggregated information

 

-       Aggregated volume

 

-       Price

 

 

 

6,042

 

£1,472.56

e)

 

Date of the transaction

 

27/02/25

f)

 

Place of the transaction

 

X-LON

 

 1    Details of the person discharging managerial responsibilities

 a)   Name                                                         SUE RIVETT
 2    Reason for the notification
 a)   Position/status                                              Chief Financial Officer

 b)   Initial notification /Amendment                              Initial notification
 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 a)   Name                                                         PHAROS ENERGY PLC

 b)   LEI                                                          549300DDKLXYLLO4N524

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  ORDINARY SHARES OF £0.05 EACH

      Identification code

                                                                   GB00B572ZV91
 b)   Nature of the transaction                                    Acquisition of Shares

 c)   Price(s) and volume(s)                                       Price(s)   Volume(s)

                                                            £0.24372   4,001

 d)   Aggregated information

      -       Aggregated volume                                    4,001

      -       Price                                                £975.12

 e)   Date of the transaction                                      27/02/25

 f)   Place of the transaction                                     X-LON

d)

 

Aggregated information

 

-       Aggregated volume

 

-       Price

 

 

 

 

4,001

 

£975.12

e)

 

Date of the transaction

 

27/02/25

f)

 

Place of the transaction

X-LON

 

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