Clarification re Capital Reorganisation

RNS Number : 1343M

Falkland Islands Holdings PLC

20 August 2013

 



Falkland Islands Holdings plc

("FIH" or "the Company")

Clarification re: Capital Reorganisation

Further to the announcement made earlier today regarding the capital reorganisation, the Company clarifies that the capital reorganisation, consisting of a consolidation, purchase of fractional entitlements by the Company, and sub-division, will result in the consolidation of every one hundred existing ordinary shares of 10 pence in the capital of the Company (the "Existing Ordinary Shares") into a consolidated share of £10 in the Capital of the Company (the "Consolidated Shares"), the repurchase from Small Shareholders (being those with less than 100 Existing Ordinary Shares) of fractional entitlements created by this consolidation (the "Fractional Entitlements") (except if the shareholder has elected otherwise) and the subsequent sub-division of the consolidated shares into new ordinary shares of 10 pence in the capital of the Company (the "New Ordinary Shares").

The price payable by the Company for the Fractional Entitlements is to be calculated on the basis of a Consolidated Share having a value equal to one hundred times the value equal to 105 per cent. of the average mid-market price of an Ordinary Share for the five business days ending on the 20 of August 2013, and the shares so repurchased will be held in treasury by the Company. Application has been made for the admission of 12,431,623 New Ordinary Shares to trading on AIM, which is expected to take place on 21 August 2013.

Falkland Islands Holdings plc

   David Hudd, Chairman                                                  Tel: [phone]

   John Foster, Managing Director                                 Tel: [phone]

WH Ireland Ltd. - NOMAD and Broker to FIH

   Adrian Hadden / Nick Field                                         Tel: [phone]

   FTI Consulting

   Billy Clegg / Edward Westropp / Georgina Goodhew Tel: [phone]

 

END

 

 

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