Fih Share Discussion Threads

[weatherman] 28/2/2017 09:22

Last night's after hours notices are interesting. Argos fund now has 9%, Janser has 4% and another fund Martial Six reports 3%. All seem to be buying above the market price, either trying to block a takeover, or force a higher price. Fidelity has nearly 9%.

[bokorbilly] 27/2/2017 16:30

Yes, I would imagine that they have spoken to some private shareholders about a blocking minority (25%)

[whackford] 27/2/2017 16:15

Argos Argonaut steadily accumulating. Now 9% +.

[eburne1960] 23/2/2017 03:49

The director being Edmund Rowland....

[weatherman] 22/2/2017 15:47

It looks like Argus fund has increased its holding, as has a director.

[whackford] 21/2/2017 09:46

I think it means a bid of 300p is unlikely to succeed, hence do not sell.

Also, the volume of shares changing hands around 300p is very small, another reason not to sell.

No idea who Martin Janser is.

[weatherman] 21/2/2017 09:29

Who is Martin Janser ? He seems to be buying above the market price.

Is this him?
hxxp://www.bonafide-ltd.com/wer-wir-sind/
Experience in portfolio management and real estate. Does this indicate a possible counter bid?

[whackford] 17/2/2017 07:41

Agreed weatherman. Watch this space.

[weatherman] 16/2/2017 18:49

I see Staunton are buying, raising the overall control of stock. The other big shareholders could match their stake, but they will have to act together. The management doesn't seem to have prior commitments from the other shareholders to accept the deal, which suggests a low bid will be rejected.

[the vogon] 16/2/2017 14:02

Yes, they can't possibly be considering accepting having done that.

I'm holding tight

[bokorbilly] 16/2/2017 12:21

Keep faith with fidelity. Argos argonaut have also just increased their stake.

[the vogon] 16/2/2017 12:11

With 22.7% of the equity it seems very unlikely that there will be a counter bid so hopefully enough investors will not accept and force them to increase their offer. Wonder what Fidelity will decide?

[ntv] 16/2/2017 11:41

i know a guy working on the back up generators (bank of six i think from memory and these are not the ones you buy from B&Q !!) plans so the power station supply is being totally revamped. so lots of people going to going and living in the falklands. ports will be busy, accommodation and stores. not sure how big total project is but will try and find see whether a figure has been banded about. I know design phase was decent money.

[the vogon] 16/2/2017 10:24

i know there is lots going on in the falkland islands at the mo
new power projects etc
will try to find out more details if anyone interested
i am not a share holder and didn't realise this group still existed

That would be very helpful NTV ( and very kind!)

[bokorbilly] 15/2/2017 15:23

I second that. Hold on!

[whackford] 15/2/2017 10:28

I would advise all shareholders to hang on for a better price - its early days yet.

[ntv] 15/2/2017 09:20

i know there is lots going on in the falkland islands at the mo
new power projects etc
will try to find out more details if anyone interested
i am not a share holder and didn't realise this group still existed

[whackford] 15/2/2017 08:28

Agree with all above. Understated value in books for Falklands land (300 acres facing into Stanley Harbour) which has "great expectations" including potential new port.

[bokorbilly] 15/2/2017 08:19

Hi all. Some very interesting goings on here, and I agree with weatherman and saints98. I think people should
hold on and see how things develop over the next few days and weeks. A lot of the major shareholders appear very angry indeed, especially as the real book value is 344p per share ( using fair value of property in the Falklands instead of cost-depreciation).

[weatherman] 14/2/2017 19:41

19-Nov-15
WH Ireland
Buy
225.00p
-
450.00p
Reiteration
16-Feb-15
WH Ireland
Buy
282.50p
465.00p
465.00p
Reiteration

Feb 2017 - "The Independent FIH Directors, who have been so advised by WH Ireland, consider the terms of the Offer [300p cash] to be fair and reasonable."

No wonder private investors don't trust Broker notes.

[weatherman] 14/2/2017 19:09

It is interesting to note some major shareholders have increased their holdings. Are they looking for another bid, or a higher price? Some historical broker notes from 2015 suggested a target price of 450p.

[saints98] 14/2/2017 17:27

With you 100% weatherman. Audacious in the extreme. Given the thin board structure, all shareholders are in the hands of one individual on this given our Chairman is conflicted. I wonder if Jeremy Brade is 100% comfortable with this ...just how hard have they really been working to do deals these last 2 years? The cynic in me says Rowland had all this worked out a long while ago: cancel the divi, hit the share price as a consequence and grow the cash pile. Wait for outlook to improve as highlighted earlier (Argentine relations improve, oil price rallies), then make a bid 10% higher than the level at which he cancelled the divi originally (paid for by the cash saved from not paying out those dividends)Even the house brokers target is higher (320p). Only thing that gives me hope is we have rather curious shareholder list and the announcement suggests that others were made inside before the deal was announced and chose not to give irrevocables (i.e. A commitment of sorts to accept the bid). Hopefully more to come. Given long dated nature of these assets it will be a travesty if not (or a steal if you are a Mr E Rowland)

[weatherman] 14/2/2017 07:06

What a surprise - fatten up the calf, then make a killing. We were told that the loss of dividends was to make acquisitions, but that hasn't happened. Instead those dividends are now to go to the family firm. I'll walk away from this with a small profit, but the Falkland Islands may feel the pain over the longer term through the FIH local dominance. I wonder whether the UK government will let them have such control over the lives of the Falkland islanders?

[whackford] 10/2/2017 10:10

Precisely Eburne.

Rowlands on to a good thing. NAV must now be about 320p per share.

[eburne1960] 10/2/2017 09:44

Mixed feelings about the bid - on the one hand it's a decent price for an illiquid stock not paying a dividend any more, on the other, its come at a time when things could start happening again in the Falklands (thawing in Anglo-Argentine relations, Premier Oil refinancing, etc).