FAR Limited has announced it has received the accompanying letter from Remus Horizons advising its intention to make a takeover offer for FAR shares at 2.1 cents per share.
The proposed takeover is conditional only on shareholders rejecting the sale of FAR’s interest in the RSSD Project and the FAR Directors confirming that there is no intention to dispose of this interest prior to the closing of the takeover offer.
FAR shareholders are due to consider approving this sale at a shareholders’ meeting which has been convened for tomorrow, 15 April 2021.
The FAR Board recognises that FAR shareholders are likely to want an opportunity to consider the implications of this prior to voting on the sale resolution.
Accordingly the FAR Board intends to address this development as the first item of business at the meeting, including whether shareholders would seek more time to consider its implications.