• Ratio Petroleum has made a cash offer of £0.230683 per Pharos share. In addition, Pharos shareholders will receive a special dividend of £0.04 per share. • The Pharos board has unanimously recommended the transaction, and Ratio has secured irrevocable undertakings representing ~41.76% of the issued share capital. • The scheme of arrangement will be circulated to Pharos’ shareholders shortly, with the shareholder vote expected over the summer. • Additional conditions include regulatory approva ....