FINN(COM) DAILY RECORD: WEDNESDAY, 13 OCTOBER 2004
Compiled by J. Brock (FINN)
FOGL RAISE NEARLY £7MILLION IN SUBSCRIPTION ALLOCATION
By J. Brock (FINN)
As at 1500 on Tuesday, 12 October 2004, the closing date, Falkland Islands Oil and Gas Limited (FOGL) has received 1294 applications for a total of 17,451,175 Ordinary Shares, representing £6,980,470.00.
Said John Armstrong, Executive Chairman of FOGL, “We are delighted with the level of support for our fundraising that has been given by both the retail public and institutions and now look forward to reporting the results of the 2D seismic survey expected in early 2005.”
According to the announcement the Offer is oversubscribed and the applications will not be settled in full. They will, however, be subject to scaling back in accordance with the allocations policy.
On 30 September 2004, FOGL announced the launch of an Offer Subscription to raise up to £2,000,000.00 through the issue of 5,000,000 Ordinary Shares at .002p each, at 40p per share.
The Allocation Policy states that in accordance with the terms in the Company’s prospectus, dated 30 September 2004, the basis of allocation of new shares under the Offer has been determined by the Company in its absolute discretion. The minimum subscription under the Offer was 2,500 shares (£1,000) and all valid applications will receive at least this amount.
The policy statement continues that applicants will receive 12.415% of the amount they have applied for in excess of 2,500 shares.
FOGL anticipates that the share certificates will be sent out, and excess application monies application monies be returned by 28 October 2004.
FIBS NEWS DIRECT: 13 OCTOBER 2004
GOVERNOR’S WEDDING:
Finishing touches are being put together for Governor Howard Pearce and Caroline Thomee’s wedding next week. They are very much looking forward to next Thursday. I asked them how the preparations are going for the big day.
HP: Well, they are pretty busy so it is a bit difficult to find time for the day job just at the moment, but I think they are going pretty well. But inevitably there are a lot of last minute things to do.
CG: Carolina, you’ve got some interesting news about your dress and your wedding rings.
CT: Because we are very fond of the Islands and we want to contribute to it and I was looking for materials from the Islands so we could make the dress, so it ended up being a dress from Falklands wool. And, the rings, we’ve been given a piece of Falklands gold to put into our rings.
CG: What’s actually going to happen on the day?
HP: We are both going to get very exhausted. The wedding service itself will be happening at the Cathedral at 1215 and will last for about 45 minutes or an hour, I guess. We’d love to invite everybody in the Falklands to that but the Cathedral seating is rather limited. So it is likely that all of the seats in the Cathedral will be filled by people who have an invitation. But we have arranged for the wedding service to be broadcast outside the cathedral. We are hoping that there will be loud speakers so other people can be outside, weather permitting of course, to know what’s going on inside. And, we are also hoping to broadcast in the Parish Halls. So, for those people who would like to come and hear what’s going on, there will be the opportunity to do so. We’ve also got some high technology arranged, which Caroline could tell you about because she’s been involved in organising that.
CT: Cable & Wireless has been kind enough to arrange a website and to place three web-cams in the Cathedral so that our friends both in the UK and in Holland and Europe can follow the wedding online.
CG: And, after the actual ceremony, itself, then what will happen?
HP: We are going to have a small party with some of the elder people in the community. Caroline, perhaps you would like to say something about that.
CT: We have invited the people from Acorns and people that live in Sheltered Housing and that go to Bingo to celebrate our wedding party at 1445 - just before we go to the Town Hall. We’d like to share a bit of wedding cake with them.
HP: And then we are going to go on to the Town Hall at 1530 and there will be a party there from 1530 to 1730 for anybody in the Falklands who would like to come and join us. Anybody in the Community here who would like to come and help us celebrate our wedding, I hope that they will come to the Town Hall between those times. You don’t have to come for the whole time. And, we hope that those people who are working have sympathetic employers, who will enable them or give them half an hour or so to come and join us. That promises to be an exciting party. We are looking forward to seeing as many people as can come. I hope the Town Hall will survive it.
CT: I am very excited about the Infant/Junior School. They offered to decorate the Town Hall and I have heard, but I’m not sure, that it’s going to be a Dutch theme. So, I look forward to seeing that.
CG: Why did you choose the Thursday to get married? That’s quite an unusual day.
CT: It is unlikely but because we’ve got a lot of guests from overseas coming and most of them are on the LanChile flight, which flies in on the Saturday and flies out on Saturday. We had to look for a day in-between. We looked at the Air Bus flights and next week that will come in on a Monday and fly out on Saturday. So, felt people would like to rest before they fly home so Thursday would be the best day.
HP: And it also happens to be Trafalgar Day, for those interested in Naval History and there will be an opportunity for the Navy to play a role in our wedding. And, I should say that in addition to the Royal Navy, the Falkland Islands Defence Force will be playing a role, too. And, we have one or two other little surprises, which we hope that people will enjoy. We are also looking forward to welcoming quite a number of friends from overseas - some 32 at the latest count - are being intrepid enough to make the journey from Europe, in most cases. We’ve also got a couple coming from the United States to join us. That is very exciting. The both of us are really excited at the prospects of being married to each other and also to celebrating our wedding with so many people next week.
CT: Another surprise for us will be the wedding cake. I have asked several people to make each their own tier. We look forward to how that fits together.
HP: We hope there will be a piece for everybody.
CT: I hope it will be big enough with enough tiers.
CG: Caroline, are you going to have bridesmaids and attendants?
CT: No. In fact, that’s not a traditional Dutch thing to do. But I have got my best friend coming over. She will attend me but not as a proper English Bridesmaid.
CG: And what about you, sir, do you have a best man coming down?
HP: I do, indeed. An old friend of mine, who has, in fact, already visited the Falklands twice since I’ve been here - an old friend called Robert Napier, who will be known to some people in the Islands already. As a Scotsman, he will be appropriately attired for the day.
CG: And finally, the honeymoon, where are you planning on going?
HP: We are going to keep the details a secret for the moment. We are not going away immediately because we have quite a number of friends coming from overseas and we’d like to stay in Stanley and in the Islands while they are still here to spend some time with them. But a little bit later in the year we have it in mind to disappear for a few days to a remote corner of the Falkland Islands. I don’t think we are going to be any more specific than that at this stage.
COURT NEWS:
Charges relating to two fishing vessels, Isba Quinto and Jaquelene have been adjourned in Court this morning. Mr. Hugh Ferguson, for the Defence, said that he received instructions from one company involved, Quark Fishing Limited, but nothing from the other, Friemar AS. He requested a month’s adjournment because they changed the crew and Captains aboard the two vessels and there would be an effort in tracking them down. The case has been adjourned until 10th November.
Mr. James Alexander, from Mount Pleasant, pleaded not guilty to being drunk in charge of a vehicle in Court this morning. The charge relates to an incident on the 12th of October, when he gave a lower reading of 87 micrograms of alcohol per 100ml of breath. The case was adjourned until the 27th of October.
DIPLOMATIC NEWS:
Sir Robin Christopher will be retiring as British Ambassador to Argentina today on his 60th birthday. He spent the last 4 years in post along with his wife, Lady Merrill and two daughters. In an interview with the Buenos Aires Herald, Sir Robin, who’s returning back to the UK, tomorrow, says he will be returning to London, where he hopes to become involved with some valued non-government organisation and, perhaps, aiding the British Wine Industry in Argentina.
Another predominant political figure celebrating her birthday today is former British Prime Minister, Margaret Thatcher, born in 1925.
MILITARY NEWS:
A war ship, which served here in 1982 is visiting its affiliated city for the final time. HMS GLASGOW is being decommissioned at the start of next year and will sail from Glasgow to Portsmouth on Monday to start that process. Commanding Officer, Mike Wayneough told the BBC he was sure the stay in Glasgow would be emotional, given its 28-year service. The Type 42 Destroyer was launched in 1976.
LOOKOUT LODGE:
It’s been more than a week now since Leif’s sandwich orders moved to Lookout Lodge. Two Sisters Ltd., who run the Lodge, have also taken over the delivery service. Sian Ferguson asked John Birmingham from the Company, what inspired him to take over that part of the business.
JB: As people will be aware, we took over the running of Lookout lodge last March and we had a very quiet winter along with other businesses - very, very quiet. When Leif decided after so many years due to wanting to sell her business, and I think it’s wide-spread public knowledge that the Chandlary are taking over the business except for the sandwiches and the salads. So, we decided that we would create a preparation room and we have taken over the making of salads and sandwiches. At the end of the month, or whenever the Chandlary extension is finished, we will then move all of her stuff and stock to the Chandlary. But they will not be preparing the salads. The salads will be prepared up at Look Out Lodge. They will also be available for delivery.
SF: Are you experiencing any difficulties at all?
JB: As you see, I am smiling. There have been a few hick-ups. Unfortunately, because of the lay-out of the lodge, I never wanted to do retailing from the Lodge anyway. And, it very soon became apparent that we couldn’t. We are not set up for over the counter scales.
SF: Has this affected the residents in any way?
JB: No. We don’t have any long-term residents at the moment. I, along with other people selling accommodation, are hoping we are going to pick up as spring is here.
SF: Have you received any comments from the public?
JB: My experience in life is that you very rarely receive comments to your face but whatever negatives that are flowing around haven’t come to me yet. Perhaps there aren’t any. I think people will appreciate the delivery service, and going back to the hot food, which I have just mentioned, we can’t really deal with. I think the demand is satisfied by Jackson’s bakery, which is still in the centre of town. That’s what we suffer from being on the outskirts of Stanley, which is why Lookout Lodge just wants to prepare the food, really.
COMMITTEE NEWS:
Keen stamp collectors will be pleased to hear that a chance has arisen to put their stamp on postage. The Falkland Islands Stamp Advisory Committee say they’ve got a vacancy for a lay member. The Committee usually meets two or three times a year and the new person will be expected to serve for three years. The majority of the Committee’s work involves planning future stamp issues and considering subject and layouts for postage stamps for the Falklands. If you are interested, you should put your name and address to the Government Secretary at the Secretariat before close of business on the 29th of October. The Postmaster is happy to provide further information regarding duties.
HARBOUR, SHIPPING AND FISHING NEWS:
The Arpon came in yesterday for licensing and St. Brandon arrived back from Punta Arenas at 1930 yesterday and is now discharging cargo at FIPASS. The trawler, Diego Garcia arrived in this morning to tranship in Berkley Sound and trawler, Ventura came in to Port William for cargo inspection and to unload crewmembers as she has finished fishing for the season. The Valliant has now returned to Montevideo and is fishing. There are 26 vessels in the zone. The surimi ship is still catching very well, as are the Ray vessels. Toothfish remains unchanged. Average finfish and Hoki catches are 13 tonnes, although some Hoki vessels are catching nearly 30 tonnes a day.
(100X Transcription Service)
