FAR's MD to be replaced
PERTH (miningweekly.com) - Africa-focused oil and gas developer FAR this week announced that MD Catherine Norman had been given notice of termination, effective immediately, with Norman also resigning as a director of the company.
“The time has now come for a fresh perspective to ensure the company explores every opportunity to realise value for shareholders,” said FAR independent chairperson Patrick O’Connor, who will oversee the business during a period of transition.
“The board will update shareholders shortly on its strategy that seeks to reflect the underlying asset value in the FAR share price,” he added.
A takeover offer from Samuel Terry Asset Management, which had offered FAR shareholders 45c a share for their interest in the company, closed earlier this month without the offer conditions being satisfied or waived.
FAR had argued that the offer was inadequate and opportunistic, and had materially undervalued the company’s shares.
Meanwhile, FAR earlier this month also announced plans to withdraw from Guinea Bissau, after efforts by FAR and operator Petronor to collaboratively farm-down proved unsuccessful.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















