The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
...and now we know why.
Well, I suppose you managed it. Rather splendid the way the SP has remained at a premium of about 60p over the subscription price and little or no immediate profit taking.
Another business that is clearly betting on a favourable outcome is FALKLAND ISLAND HOLDINGS (FKL). It has raised £8m, most of which will be spent on the Falklands where the company owns a number of sites on the outskirts of Stanley which are suitable for the development of a warehouse park for rental to oilfield services companies. Anticipating an influx of oil men, it is also planning to invest in housing, offices, retail operations and its Land Rover dealership, and it has signed a joint venture with Southampton-based Trant Construction Limited. So despite the sound and fury of the political debate, the oil business of the Falkland Islands is proceeding apace. In the next few weeks it could take a major leap forward. Results from Border & Southern’s Stebbing well and FOGL’s Loligo, along with news of a partner for Rockhopper and the Falklands will be in the news for other reasons that have nothing to do with the anniversary of the war.
why is the spread always so big on this share ?????
Also tipped by Telegraph Questor as a less risky alternative to the expensive drilling operations.
Nice steady climb to 375.00 so far :-) GLA
Chairman David Hudd said: "We are excited by the opportunity to develop the group's existing assets in the Falkland Islands in anticipation of the growth in the economy, which the board believes will follow from recent hydrocarbon discoveries. Given the company's history in the Falkland Islands and our leading position, we are confident that further investment now, will generate attractive returns. "We are delighted to have a supportive keystone investor in Blackfish Capital and we believe that further investment now in the Falkland Islands is in the best interest of our shareholders to enable the Company to participate in what we believe could be an explosive period of growth."
The proceeds will be used to exploit what it believes are "significant opportunities" that exist following recent hydrocarbon discoveries, as well as developing and expanding its existign business interests on the Falkland Islands. Falklands emphasised that Blackfish Capital Management is supportive of providing further project related equity and debt-finance either directly or via its extended client network.
Falkland Islands Holdings, the AIM quoted international services group, has raised eight million pounds following a subscription for shares by Blackfish Capital, an investment fund. In addition, the company is making an open offer under which the company's existing shareholder can buy one open offer share for every 15 ordinary shares they own, with the aim of raising a further £2.0m. The open shares will sold at 320p each, the same price as which Black Capital subscribed. All of the company's directors are participating and excess application will be accommodated to maximise participation in the offer.
Placing at 320p to raise £10mil(8mil raised at 320p, 2mil open offer). Over 3mil new shares. Check todays rns. 300p coming?
The share price rose 0.7% to 357.50p by 12:58
"In the Falkland Islands, the Sea Lion discovery in the North Falkland Basin has confirmed the existence of commercially exploitable hydrocarbons. To the south, the Darwin well recently drilled by Borders & Southern Petroleum has proved the existence of a working hydrocarbon system and supports the prospectivity of the South Falkland Basin. Both outcomes make further exploration work certain."
"For the current year, trading has been satisfactory and in line with our expectations. Whilst we do not expect the rate of growth achieved across the group in the year ended March 2012 to be repeated in the coming year, in the medium term we are confident of further growth at Momart, steady progression at PHFC and in the Falklands our assets and businesses are well placed to take advantage of the transformational change which seems increasingly likely
Momart, the group's art handling and logistics business, continued the recovery seen in the first half and produced a much improved performance for the year. Helped by the strength of the commercial art market, total revenue increased by 13.5% to £15.0m (2011: £13.2m) and underlying operating profit rose by £0.43m (81%) to £0.96m (2011: £0.53m). Chairman David Hudd said: "Our market leading businesses continued to prove resilient and delivered good results in difficult economic conditions.
Divisionally, Falkland Island Company had a satisfactory year with a small decline in profits from £1.61m to £1.52m on revenues 0.4% higher at £14.98m, continuing record levels seen the previous year. Portsmouth Harbour Ferry Company (PHFC) delivered another robust performance with revenues rising by 11.5%, reflecting the increase in fares and mild winter weather, which more than offset the substantial increase in operating costs following the June 2011 installation of the new pontoon at Gosport.
The company believes that weakened consumer demand in the UK, the full utilisation of capacity, and increases to costs will all have an impact on the company's growth this year. However, the company was keen to emphasise that the medium term outlook remains positive and its financial position continues to be strong, with bank borrowings reduced to £3.0m at March 31st, while cash balances were £2.8m.
Falkland Islands, an international services group, offset news of a rise in both revenue and profits with warnings of a slowdown in growth. Underlying pre-tax profits for the year rose 18.7% from £2.73m to £3.24m, slightly higher than expectations of £3.0m, despite higher financing costs this time round. Revenues were up 7.1% from £31.84m to £34.11m, ahead of expectations of £32.0m. Diluted earnings per share increased from 20.6p to 26
must be an old story as they now fly typhoons! a great story none the less
Great week with more good news to come in May and June.... Bit of light relief needed now... Conversation overheard on the VHF Guard (emergency) frequency 121.5 MHz Argentine Air Defence Site: 'Unknown aircraft you are in Argentine airspace. Identify yourself.' Aircraft: 'This is a British aircraft. I am in Falklands airspace.' Argentine Air Defence Site: 'You are in Argentine airspace. If you do not depart our airspace we will launch interceptor aircraft!' Aircraft: 'This is a Royal Air Force Tornado fighter. Send them up, I'll wait!' Argentine Air Defence Site: ( .... total silence) Don't you just love the RAF?
"FOGL is expected to commence drilling in June with any success promising a substantial increase in the value of FIH's shareholding," Hudd said. The announcement pushed the company's shares up 2.5% in early trading on Wednesday
The strength of the global art market has also helped lift its MOMART division, which handles and stores fine art and antiquities. "In the UK, both the group's businesses are performing well with the recovery in profits at Momart being particularly encouraging," said Chairman David Hudd. The firm also has a 4.4% shareholding in Falkland Oil and Gas Ltd, which the firm said had shifted its attention to the Southern basin.
This is up slightly from 9.5p per share in 2010. The firm said its Falkland Islands Company arm, which covers retailing, property, insurance, hotels, shipping and fishing agency services on the islands, had experienced good trading, with local demand boosted by oil exploration.
Shares in Falkland Islands Holdings were up on Wednesday after the firm said trading for the year was ahead of market expectations. The AIM-traded group which, amongst other things, operates a ferry service across the mouth of Portsmouth harbour, expects its total dividend payment to be at least 10p per share.