FAR Limited has previously advised that Woodside Energy (Senegal) B.V. exercised its pre-emptive right to acquire FAR’s interest in the Senegal RSSD Project. On 19 January 2021 the FAR group executed a Sale and Purchase Agreement with Woodside in relation to the sale.

The agreement with Woodside is on the same terms and conditions as the previously announced sale to ONGC Videsh Vankoreft Pte Ltd, details of which are detailed in FAR’s Notice of Meeting dated 18 November 2020.

 FAR shareholders are due to consider authorising the agreement with Woodside at a shareholders’ meeting to be held on 18 February 2021.

FAR will provide shareholders with further information in advance of that meeting to enable them to consider the Woodside sale in the context of the Remus proposal (should Remus provide the Company with a binding proposal prior to the shareholder’s meeting). At this time the Remus proposal is non-binding and conditional on the Woodside sale not occurring.