Far Ltd to give shareholders an AUS$80m bonus and exit from Guinea-Bissau
The Australian oil company, long mired in disputes over its interests in the Senegalese offshore, is accelerating its repositioning after finalising the sale of these interests to Woodside in July for US$126 million.
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▪ Far Ltd to give shareholders an AUS$80m bonus and exit from Guinea-Bissau
▪ The Australian oil company, long mired in disputes over its interests in the Senegalese offshore, is accelerating its repositioning after finalising the sale of these interests to Woodside in July for US$126 million.
▪ https://www.africabusinessplus.com/en/808940/far-ltd-to-give-shareholders-an-aus80m-bonus-and-exit-from-guinea-bissau/
Thanks to this cash inflow—another US$55 million is expected when the Senegalese Sangomar project comes on stream—Far Ltd can now pay its shareholders. These include Meridian Capital Ltd, which held more than 19% of the company’s capital on 3 September, Allan Gray (more than 12%) and Farjoy (more than 5%).
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