SERICA ENERGY PLC - Recommended acquisition of Pharos Energy

Serica Energy PLC provided an investor update on its proposed acquisition of Faros Energy, highlighting a value accretive transaction that strengthens production, reserves, cash generation, and long term growth. The acquisition supports the company's growth strategy by expanding its international presence in Vietnam and Egypt while maintaining its core focus on the UK North Sea. Management reaffirmed its commitment to shareholder returns, a strong balance sheet, disciplined capital allocation, and sustainable revenue growth, with the transaction expected to enhance company performance and create long term value from day one.