FINN(COM) DAILY RECORD: THURSDAY, 05 AUGUST 2004
Compiled by J. Brock (FINN)
FALKLAND ISLANDS HOLDINGS PLC ANNOUNCEMENT
Falkland Islands Holdings PLC
04 August 2004
Falkland Islands Holdings plc
AGM Statement
At today's Annual General Meeting of Falkland Islands Holdings plc, the Chairman
David Hudd will make the following statement:
'Since we issued our preliminary announcement on 23 June 2004, the trading
background in the Falklands has not changed. However, good performances from
Retailing and improved returns from Management Services have more than
compensated for losses in the Fishing Agency and Hotel operations. As a
consequence, the Group's trading results in the first quarter showed an
improvement over last year.
Following the announcement of the Group's results in June 2004, the Company's
balance sheet was strengthened by an institutional placing of approximately 5%
of the Company's share capital, producing net proceeds of £747,000.
The Group has investments in two joint ventures for, respectively, onshore
minerals exploration and offshore oil exploration. Whilst these investments
remain by their nature speculative, both ventures have made good progress in
securing funding, advancing their exploration plans and in crystallising value.
Falkland Minerals Limited (in which the Group has a 22.5% equity interest) and
Falklands Oil & Gas Limited (in which the Group has a 28.9% equity interest)
have recently been established by the participants in those joint ventures and
their admission to AIM is part of the strategic objectives of the board of each
company.
In Falkland Minerals Limited, the analysis and modelling of the onshore aero
magnetic survey for minerals is nearing completion and the initial results are
encouraging. The survey has identified over 20 possible drilling targets which
are being evaluated and a drilling programme is being designed and will commence
later this year.
In Falkland Oil & Gas Limited, work is proceeding on the design of a 2D seismic
survey of the offshore areas of interest which it is hoped to carry out in the
Austral Summer this year.
We have recently increased our shareholding in Portsmouth Harbour Ferry Company
PLC so that we now hold 26.4% of that company's issued share capital, after
having initially purchased 21.6% in May 2004. Our total outlay on this
investment is £932,000. As we expected, the funding application for a tram
system including a tunnel under the harbour, which would have provided an
alternative transport route, was rejected by Government'.
4 August 2004
Enquiries:
Falkland Islands Holdings
David Hudd, Chairman 07771 893 267
College Hill
Nick Elwes 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
AUSTRALIAN CUSTOMS:
The Australian Customs Website reports that the Maya V, caught poaching Patagonian Toothfish in the area of Heard and MacDonald Islands, is to be sold. Further to this, the buyer must prove that the ship will not be used to catch fish.
It is expected that the sale will take place on Saturday. The Catch, Patagonian Toothfish, was confiscated and sold for over $2Million.
FIBS NEWS DIRECT: 05 AUGUST 2004
VALMA MALCOLM REMEMBERED:
An obituary for the late Valma Malcolm has been written by Harold Bryley, stating that the Falklands has lost one of its most formidable champions in their resistance to Argentina’s sovereignty claim. He writes, “She was the driving force for many years the Falkland Islands Association’s Stanley Committee and also a Vice President of the Association, for which she was a superb fundraiser. The Association and her many friends will miss her greatly. She was a true Falkland Patriot and a courageous fighter for Islander’s rights to self-determination.” The article finishes by saying that it’s planned to return her body to the Islands on Saturday, ready for her funeral on Tuesday.
NINE RAISING MONEY FOR KEMH:
Nine walkers are mentally preparing themselves for Saturday’s challenge walk from San Carlos to Stanley. I spoke to Corporal Oswald Schmidt (OS) yesterday to find out when the walk was starting.
OS: Friday morning at about 0500 from San Carlos, then to MPA to do a lap of MPA and hit here about midnight, then walk on down to Stanley.
LH: Originally the plan was for you to spend the night at MPA and get up at 0300 and walk into town on the Sunday.
OS: That’s right. Then we thought we’d do it all in one day.
LH: How many of you are going on the walk?
OS: There will be nine of all together on the walk and it will be 80 miles from San Carlos to Stanley via Mount Pleasant. The event will promote teamwork, personal fitness and raise the profile of the British Army in the local community. We are doing it for the Children’s charity at the KEMH. We will be finishing at the War Memorial in Stanley.
LH: Around what time?
OS: We are looking at approximately lunchtime. Give or take a couple of hours either way.
LH: Where are all the guys from? Is it all guys, or are there a couple of girls in there as well?
OS: They are all guys. We did look for some females to compete but we couldn’t find any. We all work up at the Ammunition Sub-Depot. However, two of the blokes are from Port Squadron as well.
LH: Basically, you want to put a plea out to people that if they see you walking, to donate generously.
OS: That would be brilliant.
LH: Have you raised any money so far?
OS: We have. We put yellow tubs out all over the Islands. You will find them in the bars in Stanley and in Camp, we have them located in different areas. Feel free to pop your money in them. It’s got all the details of the event on the actual box. We will be marching around Stanley on the day with buckets.
RAMBLERS ASSOCIATION:
It’s once again time for the Ramblers to take to the hills. This Sunday will be a trip to Mount Harriet and then a walk over to Goat Ridge. Walkers are asked to meet in Deanos Car-park at 1000 before driving to Mount Harriet. If anyone wants more information, contact Greta an 21488.
SHIPPING, FISHING, AND HARBOUR NEWS:
HMS Leeds Castle is due to arrive in Stanley this afternoon for a port visit. The vessel was turned away from Punta Arenas yesterday after it was refused authorisation to visit. She’s due to stay in Stanley over the next few days. The Indomitable arrived alongside FIPASS this morning and is waiting to assist the Leeds Castle alongside. There are three vessels in for Licensing. The Zalgares is back in Berkley Sound and there are 28 vessels fishing in the zone, where Loligo catches have dropped slightly, with vessels averaging around 17.6 tonnes. The Tamar FI is alongside the East Jetty.
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