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Far Limited (ASX:FAR)

ALERT: Price-sensitive ASX Announcement for FAR
Current share price for FAR : $0.280 -0.28 (-50%)+
Announcement
Release
16 Mar 2026 8:18AM
Price at Release
$0.560
Full Release
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Summary
FAR Limited announced a 2025 Contingent Payment arrangement and a Proposed Capital Return following a provisional payment agreement with Woodside Energy. This pertains to FAR Limited's previous 13.67% interest in the Sangomar Project in Senegal. The contingent payment from Woodside Energy is based on oil production and price, with the provisional 2025 payment expected to be US$23.7 million, aligning with FAR’s estimations based on the 2025 sales figures. This payment is subject to reconciliation, with a possible additional US$19.8 million contingent payment in the future. Upon receipt, FAR plans a capital return of 35 cents per share, totaling approximately A$32.3 million, pending shareholder approval at the AGM on 28 May 2026. The proposed capital return follows similar reductions conducted in prior years and will require a class ruling from the Australian Taxation Office to ensure it is not considered a dividend for tax purposes.
Key Points
  • FAR Limited's Contingent Payment from Woodside Energy relates to the Sangomar Project.
  • The 2025 provisional contingent payment is US$23.7 million.
  • FAR plans a capital return of 35 cents per share, amounting to approximately A$32.3 million.
  • Shareholder approval for the capital return will be sought on 28 May 2026.
  • The capital return will follow a similar process to previous years and seek confirmation from the Australian Taxation Office.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.