Falkland Islands Company
Falkland Islands Company or FIC is a diversified goods and services company owned by Falkland Islands Holdings.
|Private limited company|
|Headquarters||Stanley, Falkland Islands|
|Total assets||£21,373,000 (2014)|
|Total equity||£4,882,000 (2014)|
Number of employees
|Parent||Falkland Islands Holdings|
Retail & Distribution
- Home Living
- The Electric Store
- British Home Stores (BHS)
- West Store Supermarket, featuring supplies from Waitrose
- West Store at Mount Pleasant
- SAtCO (South Atlantic Construction company) is a joint venture company with Trant Engineering, established in June 2012 and provides construction solutions for large scale building, civil and engineering projects across the Falklands.
- FIC owns 40 residential and commercial properties for let, as well as 400 acres of land.
- Caribbean Alliance Insurance Company agent, provides a range of insurance services, including motor, buildings, public liability and contract risk for buildings under construction.
- Lloyd's Agents for the Falkland Islands dealing with cargo surveys and other reporting.
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 Falkland Islands Holdings. At this point the Falkland Islands Company became a full subsidiary of Falkland Islands Holdings