Falkland Islands Holdings
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Formerly called
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Falkland island holdings (1997-2016) FOSSILDRIVE PLC (1997) |
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| Public limited company | |
| Traded as | : |
| Industry | Conglomerate holding Company |
| Founded | 1997 |
| Headquarters | Bishops Stortford, England |
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Area served
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UK and Falkland Islands |
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Key people
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| Revenue | £38.56 Million (2015) |
| £3.93 Million (2015) | |
| £3.14 Million (2015) | |
| Total assets | £57.67 Million (2015) |
| Total equity | £36.69 Million (2015) |
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Number of employees
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357 (2015) |
| Subsidiaries | |
| Website | fihplc |
FIH group plc (: ) or FIH (formerly Falkland Islands Holdings plc) is a British conglomerate which plays a key role in the economy of the Falkland Islands through the Falkland Islands Company. Its other main businesses are the Portsmouth Harbour Ferry Company, which operates the Gosport Ferry in the south of England, and a London-based art storage and transport company called Momart.
In 1997, Anglo United, which had an unsustainable amount of debt, underwent a capital reconstruction and distributes shares in Falkland Islands Holdings plc to its shareholders. Anglo United shareholders received 1 share in FIH for every 300 shares of AU.
in January 1998 - FIH was first listed on the , with £2m of debt the issue price of 100p. The Company was capitalised at £6 million. In January 2003 FIH share listing moved to the AIM market.
In February 2004 Falkland Gold and Minerals Limited (FGML) was established with financing to carry out an aero magnetic survey of the Falklands to exploit its exploration licence covering the whole of the Island. In June 2004 Falkland Oil and Gas Limited (FOGL) was established with financing to carry out a 2D seismic survey over its 33,000 km2 offshore licence to the South and East of the Falklands. In October 2004 FOGL raised £12m and its shares were admitted to AIM, capitalising the Company at £32m. In December 2004 FGML raised £10m and shares admitted to AIM, FOGL was granted an exploration licence over a further 50,000 km2 to the South and East of the Islands. and FIH acquired Portsmouth Harbour Ferry Company for £7.5m.
In June 2005 FOGL raised £10 million through an Institutional placing. FIH subscribes £2m increasing its share holding to 18.3%. In February 2006, FIH sold 1.8m shares in (FOGL), realising £2.4m and reducing its holding back to 16.3%. In December 2006, FOGL raised an £8m convertible loan to fund its ongoing exploration programme.
In January 2007 FIH sold 100% of its holding in FGML for 6p per share to RAB Capital and in October 2007 FOGL announced a farm-in deal with BHP Billiton to fund drilling programme in South Atlantic.
In March 2008 FIH acquired 100% of Momart, a UK market leader in the handling and storage of fine art and antiquities, for £10.27m.
In November 2009 FIH sold 3 million shares in FOGL after the placing earlier in the month generating proceeds of £3.6 million and a profit of £3.0 million at a price of 119 pence per share. This reduced FIH's holding to 12.0 million shares (8.2%).
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