Sale of Shares

RNS Number : 9494L

Falkland Islands Holdings PLC

01 May 2015

 

01 May 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 5 million shares in Falkland Oil & Gas ("FOGL") for £1.4 million, generating a profit of £0.4 million for the Group.  

With the sale of these 5 million shares, FIH has completed the realisation of its investment in FOGL. Over the last 10 years since FOGL's flotation, FIH has generated over £8 million in cash proceeds and £5 million in profits from its highly successful investment in FOGL. As with previous realisations these latest monies will be used to invest in and modernise the infrastructure of the Group's core businesses, to help deliver the board's vision of sustainable long term growth. 

Chairman Edmund Rowland said:

"We remain very excited about the prospects for further  discoveries and the subsequent development of oil in the Falkland's and this final sale of FOGL shares will help give the Group the funds necessary to fully realise it's long term growth potential , both in the Falkland's and in the UK."' 

- 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
Edward Westropp / Eleanor Purdon	Tel: [phone]

 

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