Feb 17 (Reuters) - FAR Ltd FAR.AX :
* RECEIVED A CONDITIONAL NON-BINDING INDICATIVE PROPOSAL FROM PJSC LUKOIL TO ACQUIRE 100% OF SHARES OF FAR AT A2.2C CASH PER SHARE
* LUKOIL PROPOSAL VALUES FAR AT A$220 MILLION
* FAR HAS NOT RECEIVED A BINDING OFFER FROM REMUS
* LUKOIL HAS STATED THAT IT DOES NOT BELIEVE IT REQUIRES FIRB APPROVAL FOR TRANSACTION
* HAS DETERMINED TO POSTPONE SHAREHOLDERS MEETING CURRENTLY SCHEDULED FOR 18 FEBRUARY 2021
* IN DEFAULT WITH RESPECT TO ITS FEBRUARY 2021 CASH CALL OF US$24 MILLION
* LUKOIL STATED IT IS OPEN TO PROVIDING REASONABLE FINANCING SUPPORT TO ALLOW CO TO COME OUT OF DEFAULT IN RELATION TO ITS RSSD PROJECT
* LUKOIL HAS ADVISED THAT IT HAS FUNDS WHICH ARE READILY AVAILABLE FOR DEPLOYMENT IF ITS OFFER PROCEEDS