LONDON (Alliance News) - Falkland Island Holdings PLC on Thursday said it has sold more than half its stake in Falkland Oil & Gas PLC.
Falkland Islands Holdings said it has sold 7.825 million shares in Falkland Oil & Gas for a total of GBP2.3 million, translating to a price of 29.39 pence per share. Shares in Falkland Oil & Gas were up 1.1% to 27.55 pence on Thursday.
Falkland Island Holdings said it has made a GBP0.7 million profit on the sale and said it now owns 5 million shares in Falkland Oil & Gas, or around 1% of its issued share capital.
Shares in Falkland Island Holdings were untraded Thursday, having last traded at 289.98 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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