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MARKETS

FAR offers windfall to long suffering shareholders

FAR Limited is to relist on the Australian Securities Exchange tomorrow after being suspended since September and will return A$80 million to long-suffering shareholders from proceeds of its sale of near-production Sangomar oil project to partner Woodside.

Helen Clark
FAR CEO Kath Norman

FAR CEO Kath Norman

In total FAR picks up US$128 million in cash, and a further $55 million in cash linked to oil prices, once production begins in 2023.  The cash per share works out at 80c each after shareholders voted...

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