The whole thing is prima-facie weird. FAR, being a part owner would have known better than anyone if a price for 35% of SNE was a bargain or not.A dollar amount scribbled hastily onto the back of a used post-it note would be sufficient for FAR to decide if the PE was worth pursuing.
To dispute the technical compliance of the notice through arbitration may eventually prove to have legal merit and that may eventually prove to be be in holders best interests. I am assuming PE was impractical for FAR back in 2016.
Ann: First phase of FEED commences on SNE development Senegal, page-160
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