Petroleum Africa
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Wednesday, May 12, 2021
FAR Limited announced that ASX has advised it will not reinstate trading of FAR shares at this time. In October 2020, ASX advised that trading of FAR shares would resume when FAR released a “clean” audit report (free from a disclaimer of opinion with respect to going concern).
On 30 April 2021 FAR released unqualified audited financial accounts for the year ended 31 December 2020, in which the auditor stated they believe that the audit evidence obtained is sufficient and appropriate to provide a basis for their opinion. On this basis FAR applied to ASX for a reinstatement of trading of its shares on Friday 30 April.
ASX has now advised that the sale of FAR’s interest in the Senegal RSSD Joint Venture will need to be completed before reinstatement of trading of its shares can be considered.
FAR is disappointed that this is the case, however, FAR has no say in the matter.
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