According to the announcements on Friday 30 May, WDS have paid the the USD $11.5mm Contingent Payment to FAR and the amount that WDS claim under the Indemnity payable to the Senegal Government has been assessed as USD $6.03mm. I also note that the resolution for approval of the 8cps Capital return was passed by shareholders. FAR needs to retain sufficient funds to make the Indemnity payment, if it must, which still leaves it with sufficient funds to make the Capital Return and it seems that FAR intends to proceed with the Capital Return on 12 June.
FAR Price at posting:
46.0¢ Sentiment: Hold Disclosure: Held
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