The Falkland Islands Company (FIC) was incorporated in 1851 and received its Royal Charter on 10 January 1852. Established with an authorised capital of £100,000 its purpose was to engage in agricultural and general trading activities including establishing a shipping link with the UK.
FIC purchased J M Dean & Sons for shares. J M Dean acted as agent for farmers, and operated the West Store in the capital Stanley. The company was also a Lloyds Agent and owned a hotel and other property assets in the Islands.
Regular shipping service commenced to Montevideo.
FIC continued to acquire farm property in the Falklands with the result that the total agricultural land holdings reaches 1.2m acres with some 300,000 sheep.
FIC shares listed on The London Stock Exchange.
FIC acquired by The Dundee Perth and London Shipping Company Limited which is itself purchased by Coalite Group PLC.
Argentina invades the Falkland Islands and occupies the islands for 74 days.
Falklands Conservation Zone established and offshore fishing becomes the most important source of revenue for the Government.
FIC's owners, Coalite acquired by Anglo United plc in a leveraged buy out.
FIC's agricultural land holdings sold to the Falkland Islands Government following the Shackleton report.
Anglo United which has an unsustainable amount of debt undergoes a capital reconstruction and distributes shares in Falkland Islands Holdings plc to its shareholders. For every 300 Anglo United shares shareholders receive 1 share in FIH.
January - FIH shares are listed on London Stock Exchange, with £2m of debt the issue price of 100p. The Company is capitalised at £6 million.
January - The FIH share listing is moved to the AIM market.
February - Falkland Gold and Minerals Limited (FGML) established with financing to carry out an aero magnetic survey of the Falklands to exploit its exploration licence covering the whole of the Island.
June - Falkland Oil and Gas Limited (FOGL) established with financing to carry out a 2D seismic survey over its 33,000 sq km offshore licence to the South and East of the Falklands.
October - FOGL raises £12m and shares admitted to AIM, capitalising the Company at £32m.
December - FGML raises £10m and shares admitted to AIM.
December - FOGL is granted an exploration licence over a further 50,000 sq km to the South and East of the Islands.
December - FIH acquires Portsmouth Harbour Ferry Company for £7.5m.
June - FOGL raises £10 million through an Institutional placing. FIH subscribes £2m increasing its share holding to 18.3%.
February - FIH sells 1.8m shares in (FOGL), realising £2.4m and reducing its holding back to 16.3%.
December - FOGL raises an £8m convertible loan to fund its ongoing exploration programme.
January - FIH sells 100% of its holding in FGML for 6p per share to RAB Capital.
October - FOGL announces farm in deal with BHP Billiton to fund drilling programme in South Atlantic.
March - FIH acquires 100% of Momart for £10.27m, a UK market leader in the handling and storage of fine art and antiquities.
November - FIH sold 3 million shares in FOGL after the placing earlier in the month generating proceeds of £3.6 million and a profit of £3.0 million at a price of 119 pence per share. This reduced FIH's holding to 12.0 million shares (8.2%).
January - FIH participated in the placing of new shares by FOGL by subscribing for 2 million new shares at a cost of £0.86 million (43 pence per share). FIH's holding in FOGL shares was increased to 14 million shares (4.4%).
July £10.0m equity capital raising
FIH raised £10.0 million gross from a share issue at 320p per share. £8.0 million was subscribed by Blackfish Capital and £2.0 million has been raised from an Open Offer to the existing shareholders. The proceeds from the share issue will be used to develop the Group's assets in the Falkland Islands in anticipation of the economic growth that the Board believe will follow.
July - FIH sold 1.2 million shares in FOGL for £1.01 million (86 pence per share), generating a profit of £0.77 million and reducing its holding to 12.8 million shares (4.0%).
March - FIH sold 7.825 million shares in FOGL for £1.6 million (29 pence per share), generating a profit of £0.7 million and reducing its holding to 5.0 million shares (0.9%).
April – FIH sold 5 million shares in FOGL for £1.4 million, generating a profit of £0.4 million for the Group. With the sale of these 5 million shares, FIH 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.
On 8 September the group changed its name to FIH group plc to more properly reflect the balance of the group’s activities which are now predominantly in Europe and the UK. Despite this change of name, the Group’s Falklands business, the Falklands Islands Company (“FIC”), remains a core part of the Group.