The non-executive director acquired 700,000 shares at 3.2 cents per share on February 18, increasing his total holding in an indirect interest to almost 3.656 million.
This transaction comes after managing director Cath Norman acquired 640,000 ordinary shares on-market at 3.1 cents per share, increasing her direct interests to more than 23.67 million and indirect interests in excess of 1.645 million.
Five directors also demonstrated their support of the company in late January 2020 by participating in a share purchase plan, which raised 11.18 million.
This SPP adds to the $146 million raised late last year from institutional and sophisticated investors via a conditional equity placement of shares at 4.25 cents each.
Proceeds from the capital raisings form part of the planned financing package to fund FAR’s capex to first oil from the Sangomar Oil Field development, offshore Senegal.
FAR’s mission is to generate value that rewards shareholder investment and other key stakeholders through continued growth and exploration success.