11:18 AM EDT, 08/28/2026 (MT Newswires) -- Pharos Energy's (PHAR.L) shareholders approved the increased recommended cash takeover offer of Israel-based oil and gas explorer Ratio Petroleum Energy. The London-listed oil and gas exploration and production company said Friday that 98.46% of its shareholders voted in favor of the scheme of arrangement linked to the offer, including the amendment to Pharos' articles of association. Ratio's increased offer is valued at 0.3375 pound sterling per share, including a dividend, from the previous bid of 0.28 pound per share. The offer was raised earlier in August.

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