Pharos Energy (PHAR)

Sector:

Energy Producers

Index:

FTSE Small Cap

15.06p
   
  • Change Today:
      0.060p
  • 52 Week High: 70.20
  • 52 Week Low: 10.40
  • Currency: UK Pounds
  • Shares Issued: 397.52m
  • Volume: 1,171,732
  • Market Cap: £59.87m
  • RiskGrade: 621

Soco International ends merger talks with Kuwait Energy

By Michele Maatouk

Date: Monday 05 Mar 2018

LONDON (ShareCast) - (ShareCast News) - Soco International said on Monday that merger talks with Kuwait Energy have ended.
The oil and gas exploration and production company, which announced back in January that it was evaluating a potential merger of equals, said it could not reach agreement with Kuwait Energy on the basis for an acceptable transaction.

"Soco's board remains committed to its strategy of shareholder value creation through sustainable cash returns to shareholders and growth of the business. The Soco team, which has a track record of delivering shareholder value through asset acquisition and monetisation, delivering large scale developments, and returning capital to shareholders, evaluates M&A opportunities with reference to strict strategic, financial and operational criteria and only pursues transactions if they are determined by Soco's board to be in the best interest of shareholders. Soco's board continues to evaluate opportunities in accordance with these criteria."

RBC Capital Markets said: "We think there may be a relief rally today following this announcement, as the deal was seen to be a challenging combination of geographies and the market had shown little appetite for Kuwait Energy's portfolio when it had sought a London listing previously.

"Soco has, however, to galvanise investor interest in its acquisition-led strategy as the stock tests historic lows."

At 0920 GMT, the shares were up 3.3% to 95p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Pharos Energy Market Data

Currency UK Pounds
Share Price 15.06p
Change Today 0.060p
% Change 0.40 %
52 Week High 70.20
52 Week Low 10.40
Volume 1,171,732
Shares Issued 397.52m
Market Cap £59.87m
RiskGrade 621

Pharos Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
44.13% above the market average44.13% above the market average44.13% above the market average44.13% above the market average44.13% above the market average
21.74% above the sector average21.74% above the sector average21.74% above the sector average21.74% above the sector average21.74% above the sector average
Price Trend
95.53% below the market average95.53% below the market average95.53% below the market average95.53% below the market average95.53% below the market average
76% below the sector average76% below the sector average76% below the sector average76% below the sector average76% below the sector average
Income Not Available
Growth
7.05% above the market average7.05% above the market average7.05% above the market average7.05% above the market average7.05% above the market average
57.38% below the sector average57.38% below the sector average57.38% below the sector average57.38% below the sector average57.38% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 2
Sell 0
Strong Sell 3
Total 6
sell
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Pharos Energy Dividends

  Latest Previous
  Final Final
Ex-Div 09-May-19 24-May-18
Paid 31-May-19 15-Jun-18
Amount 5.50p 5.25p

Trades for 26-May-2020

Time Volume / Share Price
16:35 22,607 @ 15.06p
16:29 58 @ 15.04p
16:29 2,862 @ 15.04p
16:29 282 @ 15.04p
16:29 863 @ 15.04p

Pharos Energy Key Personnel

CEO Ed Story
CFO Jann M Brown
Chair John Martin

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