Sale of Shares

RNS Number : 8984H

Falkland Islands Holdings PLC

19 March 2015

 



19 March 2015

Falkland Islands Holdings plc

Sale of Shares

Falkland Islands Holdings plc ("FIH" or the "Group"), the international services group which owns essential services businesses focused on transport and logistics, announces that it has sold 7.825million shares in Falkland Oil & Gas ("FOGL" ) for £2.3million, generating a profit of £0.7million for the Group. Following the sale, FIH owns 5 million shares in FOGL; representing 1% of FOGL's issued share capital. The funds generated by the share sale will be available for the development of the Group's businesses.

Chairman Edmund Rowland said "In the past five years the Group has directly invested over £8m in the Falkland Islands and remains committed to the development of its Falklands business. We look forward to a successful exploration drilling programme in 2015 and to the development of oil production in the Islands in due course, which will transform the value of the Falkland Islands Company. This latest sale of shares in FOGL will augment the Group's cash resources for further investment in its future growth." 

- Ends -

Enquiries:

Falkland Islands Holdings plc	Tel [phone]
Edmund Rowland,  Chairman
WH Ireland Ltd. - NOMAD and Broker to FIH	Tel: [phone]
Adrian Hadden
FTI Consulting	Tel: [phone]
Edward Westropp / Georgina Goodhew

 

END

 

 

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