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Board Changes

Source: www.gulfoilandgas.com 8/27/2018, Location: Not categorized

The Board of FAR Limited advises that Ben Clube, previously an Executive Director, has resigned from the Board of FAR Limited. Following a review of the board composition, the Board of FAR has decided that the independence of the board is best served by the Managing Director being the only executive on the board. The board now comprises 3 non-executive directors and the Managing Director. There is no immediate intention to appoint other directors however the Directors intend to monitor the skills requirements as developments unfold and may subsequently appoint further directors.

Ben will also shortly be leaving the company. In his various executive capacities, he has made a significant and important contribution to the commercial development of the company and displayed outstanding skill and dedication. We thank him for his contribution to FARís success and we wish him well in the future. In accordance with his contract and the applicable regulations he will receive 12 monthsí salary as a termination payment

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