Falk IS. Hldgs Share Discussion Threads

[dunnie] 22/12/2004 10:54

FIH, fairly priced comments the Investors Chronicle, although it's land bank could be exploited if they find oil or gold, this could boost housebuilding activity.

[keithfagan] 17/12/2004 13:44

With the sharprice now being closely linked to its 2 main subsidiary companies, plus if the above is correct, the possibility of a raising of more cash through new issues, the price will be rocky for a while. Once FGML and FOGL start to perfom so will this.

[djmozy] 16/12/2004 20:37

Hey there guys

Don't know if any of you got the financial times today but there is a write up on Falkland Island Holdings. In summary, it is regarding FKL looking for more acquisitions in the UK ferry business following its takeover of Portsmouth Harbour Ferry. David Hudd, chairman of FKL says this "will tranform the business. We will be looking at other ferry opportunities and we have a few ideas". There is also mention of its holding in FOGL and FGML stating "We are a long term investor in these companies.

Hopefully this will bring some more interest into the Falkland stocks.

Harel

[keithfagan] 15/12/2004 12:57

grg. I agree that the IOW situation may be of interest to them. I would like to find out what facilities PHFC have at their docks area as (previously pointed out) the Shoreham site used by FKL now seems a little inadequate to suit their future needs.

[grgkecer] 15/12/2004 11:41

KeithFagan

It is true that FKL has not previously paid interim dividends, and does not appear to be doing so now; but what then is the explanation of the £18,000 "dividends"?

I was not suggesting that FKL or any of its associates would be looking for oil in IoW, but that they might well be interested in running ferry services to it, and servicing any developing oil industry there - if NOP does find oil, there is a question as to how they will get it out from the island, for example.

[keithfagan] 15/12/2004 10:56

I have never had an interim dividend in the past 8 years, only annual ones. Also on FOGL they have declared that FOGL is only for oil exploration in the Falklands so (if that was what was intimated by grgkecer) they may not look at IOW as potential in that area.

[grgkecer] 15/12/2004 09:50

" Group intends to pursue a progressive dividend policy":

The profit and loss account shows a sum of £18000 "dividends", but there seems to be no interim dividend declared.

[grgkecer] 15/12/2004 09:37

Perhaps there are too many whales eating the squid - whaling and sealing were once Falklands activities.

As for PHFC, its main benefit is diversification outside the Falklands, with more to come, it seems:

"This is an exciting development for the group and we are looking forward to
working with the PHFC team. It is a company that shares many of the
characteristics and values of our businesses in the Falklands and the Board of
FIH will be looking for further opportunities to expand in this sector."

The IoW is quite a lot like the Falklands, especially with NOP drilling for oil.

[britishbear] 15/12/2004 09:33

and they pay a divi although cannot remember off hand what the yield is at the current share price

[keithfagan] 15/12/2004 09:31

British. I understand that there is some concern over the squid stocks that no one can explain but it may be a short term thing. Yes I agree that the company hopes to make a lot of its money out of Oil and Minerals and we have at least 8 months before any concrete information is available as to the promise in those areas.

PHFC was a good example of an effective, aggressive, takeover with the board having patience and tenacity to achieve their aim. A lot of lesser people would have bitten the bullet over the vehement blocks put in the way by the PHFC board.

I can see them diversifying in other areas as well over the coming year. The strong share price gives them a very effective buying tool especially as there are so few issued.

Not often I am over optimistic but the company does give me the strong impression it knows where it is going and has the knowledge and drive to get there.

[britishbear] 15/12/2004 09:22

KF, the worry of course is that the fish harvests are way down and look to be in long term trouble - this is where, historically, they have made their money. Squid rocks.

However, I think the Ferry buy was a very good move - cash generative and a good use of funds.

Still a lot resting on gold and oil - if they both strike FKL will multibag for sure. Interesting to compare the book value with current price. Selling after a year would give the £15m at current prices - a massive boost to NAV

[keithfagan] 15/12/2004 09:18

Interim results look good despite the investment in PHFC and other fingers in pies. Sound Management, sound business, sound investment imo:

LONDON (AFX) - Falkland Islands Holdings PLC six months to September 30 2004
Sales - 5.41 mln stg vs 4.90 mln
Pretax profit - 294,000 stg vs 300,000
Operating profit - 319,000 stg vs 304,000
EPS - 3.0 pence vs 3.2

[shirishg] 13/12/2004 15:48

Post removed by ADVFN

[keithfagan] 13/12/2004 15:41

Looks like this is it until after Christmas now.

[tofftrader] 12/12/2004 17:10

Agree teacup, I'm expecting mid 50's by the end of the week.

[teacup] 12/12/2004 09:22

Take a look at FGML listed on AIM on weds. Placing was at 40p (currently 42p-44p) A late rush on Friday saw the stock rise 2p but there is a lot more to come next week particularly with the article in the Sunday Times today. I expect the shares to be trading 50p+ by the end of next week. Thanks also to Dunnie for some excellent posts on RAB Capital and FGML, Good luck.

[currypasty] 12/12/2004 09:02

'We know we'll find gold in the Falklands'... Sunday Telegraph
(Filed: 12/12/2004)


David Hudd, the head of Falkland Island Holdings, tells Edward Simpkins about his firm's drive to modernise



"We're like a mini Jardine Matheson," says David Hudd, the chairman of Falkland Island Holdings (FIH), in a reference to the famous Hong Kong-based conglomerate. The similarities are indeed striking.

Both were founded on British islands on distant part of the globe in the first half of the 19th century and both have interests ranging from hotels, retailing and property to dealing in cars. But there the similarities end.

The difference in scale between the two companies is so vast as to be comical: when Hudd said "mini", he meant "micro". Jardine Matheson turned over £4.7bn last year and employs 105,000 people. Its counterpart in the South Atlantic employs 120 people and has a turnover of just £11.5m.

But Hudd hopes the disparity may be about to narrow a little. With the islands' traditional mainstay of squid fishing mysteriously in decline (scientists are trying to find out why), Hudd has engineered something of an oil and gold prospecting boom.

Last week saw the flotation on Aim of Falkland Gold and Minerals, of which Hudd is deputy chairman, and in which FIH owns a 14 per cent stake. The public offering of shares in the company raised £10m to pay for a drilling programme to determine whether there are economic deposits of the precious metal on the islands.

Meanwhile, in September Hudd oversaw, also as deputy chairman, the flotation of Falkland Oil and Gas – which raised £7m to pay for a seismic survey of the 33,700 sq km of offshore oil and gas fields the company holds to the south and east of the islands. FIH owns 28 per cent of the oil explorer.

"I became chairman of Falkland Island Holdings in 2002 and the first thing I decided was that I wanted to make sure we participated fully in any oil and minerals discovered there," Hudd says. "It would have just been too ironic that we had been there since 1851 and not been a part of it if anything is found."

The prospect of mineral riches beneath the windswept outcrop has already done wonders for FIH's share price. Shares in the company started the year at 186p but by November had soared as high as 722p and currently trade at about 670p, making FIH one of the best performing stocks on Aim.

Hudd has also raised the company's profile by making a hostile £10m bid for another historic anomaly of a company: Ports‐mouth Harbour Ferry Company. The Ports‐mouth ferry company is owned by some 300 local families, mainly descendants of the original shareholders dating back to 1883.

Not many responses to hostile bids cite "sentimental value" and "family connections" in a defence document. But FIH's approach, at £47.30 a share, proved hard to resist on economic grounds and the ferry company's management conceded defeat last week.

Apart from that diversification, FIH is focused purely on the Falkland Islands.

Soon after joining the company, Hudd visited the islands and met a geologist, Derek Reeves, who was originally sent to the Falklands to search for diamonds on the theory that the islands were part of South Africa several billion years ago. South Africa is one of the world's richest mining regions. Sampling of gravel in streams on the islands did reveal indicator minerals for diamonds but also came up with plentiful grains of gold.

Because of the strong price of gold (recently at a 17-year high) and oil, Hudd says he pushed to raise enough money – at first through private placings and now through public offerings – to see both the oil and gold companies through to the next stage of ‐exploration.

"We went to see RAB Capital [the fund manager that has specialised in financing early-stage resources exploration companies]," says Hudd. "They put in £1m, we put in £1m and we borrowed £1m to fly a magnetic survey of the islands."

Despite some "Argentinian intransigence" – the country allows only scheduled flights to the islands to pass through its airspace – a light plane was able to fly there from Brazil in January and carry out the survey.

"We've identified 23 magnetic anomalies which now need to be drilled," says Reeves, the operations manager of Falkland Gold. "We know we'll find gold and quartz veins but we don't know how wide they are."

He already has two drill rigs en route to the South Atlantic and is planning to put 1,200 holes into promising locations early next year. The resulting samples should be analysed by July, at which point the company will have a reasonable idea of whether there are large gold deposits on the islands.

One of FIH's subsidiaries, the Falkland Islands Company, was awarded a Royal Charter in 1852, giving it the rights to much of the land mass of the islands. For more than a century the company produced wool from flocks of sheep reared there.

The company still has the charter but it has sold most of the land to the government, retaining plots suitable for housing or commercial development should the islands' economy suddenly take off on the back of a major oil strike.

At the moment the company's interests extend to the islands' only hotel and the Falklands' biggest shop. It also provides insurance services to islanders and travel tickets to visitors. It runs the port, sells Land Rovers and arranges shipping to and from the UK.

The power the company wields is a sensitive issue among the 2,500 islanders and Hudd won't say how much the shop contributes to turn‐over.

"We're obviously a powerful company down there," Hudd says, "but we no longer have the right to appoint someone to the legislative council." And he adds that not all of the company's income is derived from the islanders.

"We sell a lot of stuffed penguins to passing cruise ships."

[keithfagan] 10/12/2004 09:03

Well it moved a little faster than I expected but they now control over 51% so we should expect an announcement as to their intentions in the New Year.

RNS Number:2531G
Falkland Islands Holdings PLC
10 December 2004


Falkland Islands Holdings plc

Recommended Offer for
The Portsmouth Harbour Ferry Company PLC
Unconditional in all respects

For immediate release 10 December 2004

The Board of Falkland Islands Holdings plc ("FIH") is pleased to announce that
the Offer by Dawnay, Day Corporate Finance Limited on behalf of FIH for the
whole of the issued share capital of The Portsmouth Harbour Ferry Company PLC
("PHFC") is hereby declared unconditional in all respects.

Prior to the announcement of the Offer, FIH held 61,149 PHFC Shares (26.59% of
its issued share capital). During the Offer period FIH has acquired 58,260 PHFC
Shares (25.33% of its issued share capital). As at close of business on 9
December 2004 FIH held 119,409 PHFC Shares (representing 51.91% of its issued
share capital).

As at 3.00pm on 9 December 2004 valid acceptances of the Offer had been received
(and not withdrawn) in respect of 14,774 PHFC Shares (6.42% of PHFC's issued
share capital). As stated above FIH already holds 51.91% of PHFC's issued share
capital. Thus the total percentage of acceptances received (and not withdrawn)
and PHFC Shares held is currently 58.34% of PHFC's issued share capital.

The Offer, as revised, enables accepting PHFC Shareholders to elect to receive
alternative forms of consideration:

The Share Offer 7 New FIH Shares for every PHFC Share
The Part Cash Alternative #25 in cash and #10 in Loan Notes
The Full Cash Alternative #35 in cash

Acceptances and applications to receive New FIH Shares have been received in
respect of 7,421 PHFC Shares. Accordingly 51,947 New FIH Shares will be issued
and application will be made to The London Stock Exchange for the admission of
51,947 New FIH Shares to trading on AIM and dealings are expected to commence in
New FIH Shares on 15 December 2004. Following the issue of the afore mentioned
shares FIH has 8,760,008 shares in issue.

The Share Offer will remain open for acceptance until further notice. A minimum
of 14 days notice will be given before it closes.

The Part Cash Alternative and the Full Cash Alternative will close at 1pm on 6
January 2005.

As stated in the Offer Document, FIH intends to apply the provisions of Sections
428-430F (inclusive) of the Companies Act 1985 ("the Act") to acquire
compulsorily any remaining PHFC Shares if FIH acquires 90 per cent. or more of
the PHFC Shares to which the Offer relates. In those circumstances any remaining
PHFC Shareholders will be offered the choice of consideration equivalent to the
Share Offer, the Part Cash Alternative and the Full Cash Alternative as required
by Section 430 of the Act.

Enquiries

Falkland Islands Holdings plc
David Hudd, Chairman Tel: [phone]

Dawnay, Day Corporate Finance Ltd
David Floyd, Director Tel: [phone]

College Hill Associates Ltd
Ben Brewerton Tel: [phone]

[keithfagan] 09/12/2004 08:34

This is a done deal now. The PHFC board has caved in and the % owned by FKL has increased dramatically over the last 3 days.

I still reckon this is to do with improved harbour facilities over the current FKL Shoreham base but, unless I can find out what PHFC have at Portsmouth in the way of docks I can't confirm my theory.


(Adds acceptance level for FIH offer)
LONDON (AFX) - Portsmouth Harbour Ferry Co PLC, which is subject to a bid
from Falkland Islands Holdings PLC (FIH), said it rejected an offer from a third
party.
"The board does not now consider that there is any merit in giving further
consideration to the proposal," the company said in a letter to shareholders.
The company also said the deadline for acceptance of the FIH offer has been
extended to Dec 23 from Dec 10.
Portsmouth Harbour said it unanimously recommends that shareholders accept
either the full cash or part cash offer of 35 stg a share from FIH by the
extended deadline.
As of 3 pm today, FIH said the total percentage of acceptances received for
its offer was 43.2 pct.
[e-mail]
jc
0

[dunnie] 09/12/2004 06:10

Falkland Gold is mentioned in the Express & Independent.
Independent says, Given investors appetite for the sector it is expected to have a good maiden session.
Express says,Traders are expecting a strong market debut today from Falkland Gold & Minerals after a heavily oversubscribed placing.
This triggered support for major Falkland investor,RAB Capital,which ended the day 1.5p richer at 47p.

[grgkecer] 08/12/2004 18:46

It looks as though PHFC is in the bag - perhaps in the new year we'll find out why.

[keithfagan] 08/12/2004 15:10

RNS Number:1692G
Falkland Islands Holdings PLC
08 December 2004


Falkland Islands Holdings plc

Falkland Gold and Minerals Limited
and
Falkland Oil and Gas Limited

For immediate release
8 December 2004

On 25 November 2004, Falkland Gold and Minerals Limited ("FGML") announced an
offer for subscription ("Offer") to raise up to #2,000,000 through the issue of
up to 5,000,000 Ordinary Shares of 0.002p each at 40p per share ("Ordinary
Shares"). This followed an institutional placing which raised #8 million.

FGML today announced that, as at 3.00 pm on 7 December 2004, the closing time
and date of the Offer, it had received 1,543 applications for a total amount of
#5,662,890, representing 14,157,225 Ordinary Shares.

As a result, the Offer is oversubscribed and applications will not all be able
to be settled in full. The Offer is therefore subject to scaling back.

In accordance with the terms of the Offer set out in FGML's admission document
dated 24 November 2004, the basis of allocation of new shares under the Offer
has been determined by FGML in its absolute discretion.

Falkland Islands Holdings plc ("FIH") now holds 14.38% of FGML's issued share
capital.

Falkland Oil and Gas Limited ("FOGL") announced on 7 December 2004 that it had
been awarded an offshore production licence for an additional 50,000 sq km by
the government of the Falkland Islands; the licence area is adjacent to its
existing licences where FOGL is in a Joint Venture with Hardman Resources.
FOGL already holds a 77.5% interest in licences covering 33,000 sq km to the
south and east of the Falkland Islands, with its joint venture partner Hardman
Resources holding the remaining 22.5%, and the Company now has 100% of the new
50,000 sq km licence area.
As a result , FOGL now has an interest in a total of 83,000 sq km.
Geophysical Services Incorporated ("GSI") has been contracted to undertake a 2D
seismic survey on FOGL's Joint Venture acreage and that survey will now be
extended to include the new area. This will enable the mobilisation and
demobilisation costs to be spread over both licence areas.
It is expected that the seismic survey over both the new and the Joint Venture
areas will amount to over 10,000kms of 2D seismic lines. The surveys will
investigate the 8 leads already identified in the 33,000 sq km Joint Venture
area as well as providing a 5,000 km reconnaissance grid of new seismic lines in
the new 50,000 sq km area. This new data will be used to high grade the 8 leads,
to investigate other parts of the Joint Venture licence area and to provide the
first ever seismic survey of the new 50,000 sq km area.
FIH holds 18.1 per cent. of FOGL's issued share capital



Enquiries
Falkland Islands Holdings plc
David Hudd, Chairman Tel: [phone]

Dawnay, Day Corporate Finance Ltd, Nominated adviser to FIH
David Floyd, Director Tel: [phone]

[keithfagan] 07/12/2004 13:35

If, as was announced, a 3rd party is in the ring then it will have to have a lot of money to buy the FKL portion of PHFC in any event of a takeover. 36.55% and rising. The rate of purchase has also increased so it won't be long now before it is all done and dusted.


Date of dealing ......06 December 2004............

Dealing in ............The Portsmouth Harbour Ferry Company PLC....(name of company)

(1) Class of securities (eg ordinary shares).............Ordinary Shares............................

(2) Amount bought Amount sold Price per unit

228 #35

228 #35

1148 #35

100 #35

752 #35

288 #35


(3) Resultant total of the same class owned or controlled
(and percentage of class).........84,057.................. (36.55%)

(4) Party making disclosure .....Dawnay Day Corporate Finance Ltd.....


(5) EITHER (a) Name of purchaser/vendor (Note 1) .........Falkland Islands
Holdings plc.(the offeror

[grgkecer] 07/12/2004 10:25

Falkland Oil and Gas Limited
07 December 2004




Falkland Oil & Gas Limited ('FOGL')
Awarded Licence for an Additional 50,000 sq km
Award Doubles the Size of FOGL's Acreage


Falkland Oil and Gas Limited ('FOGL') announces that it has been awarded an
offshore production licence for an additional 50,000 sq km by the government of
the Falkland Islands; the licence area is adjacent to its existing licences
where FOGL is in a Joint Venture with Hardman Resources.



FOGL already holds a 77.5% interest in licences covering 33,000 sq km to the
south and east of the Falkland Islands, with its joint venture partner Hardman
Resources holding the remaining 22.5%, and the Company now has 100% of the new
50,000 sq km licence area.



As a result , FOGL now has an interest in a total of 83,000 sq km.



Geophysical Services Incorporated ('GSI') has been contracted to undertake a 2D
seismic survey on FOGL's Joint Venture acreage and that survey will now be
extended to include the new area. This will enable the mobilisation and
demobilisation costs to be spread over both licence areas.



It is expected that the seismic survey over both the new and the Joint Venture
areas will amount to over 10,000kms of 2D seismic lines. The surveys will
investigate the 8 leads already identified in the 33,000 sq km Joint Venture
area as well as providing a 5,000 km reconnaissance grid of new seismic lines in
the new 50,000 sq km area. These new data will be used to high grade the 8
leads, to investigate other parts of the Joint Venture licence area and to
provide the first ever seismic survey of the new 50,000 sq km area.



John Armstrong, Executive Chairman of FOGL, said:



'We are very pleased to have secured the offshore production licence for this
additional acreage, which is intended to provide the company with opportunities
to the North East of and on trend with the leads in the company's Hardman Joint
Venture area.


'FOGL now has licences covering a vast area and has by far the largest acreage
of any company operating in the region. '



www.fogl.co.uk