Disposal of The Portsmouth Harbour Ferry Company

FIH group plc, the AIM quoted international specialist services group with businesses in the Falkland Islands and the UK, is pleased to announce that it has completed on a contract with TC Gosport Bidco Limited ("Gosport Bidco") for the sale of the entire issued share capital of PHFC, including its subsidiaries, for £11.62 million. The ultimate UK parent company of Gosport Bidco is TC UK Topco Limited, the indirect majority owner of Uber Boat by Thames Clippers, which is the principal trading name of Collins River Enterprises Limited.

PHFC and its subsidiaries generated a profit before tax of £0.53 million for the year ended 31 March 2025 (after the allocation of head office and plc costs) and as at 30 September 2025, had net assets of £2.79 million. The net book value of the investment in PHFC in the company accounts of FIH at 30 September 2025 was £7.59 million.

Stuart Munro Chief Executive, FIH group plc, said:

"I am delighted to announce the sale of PHFC. This is a positive transaction for the Group, delivering cash of circa £11.6 million and achieving a 53% increase on the net book value of our investment in the business, before transaction costs and corporation tax on the profit on disposal.

I would also like to take this opportunity to thank the staff and management team at PHFC for their hard work and dedication during the time that the business has been part of the Group and to wish them every success for the future under new ownership. We're confident we have found a new owner with deep industry experience, who will continue to put the customer and team at the heart of decision-making.

The proceeds from the sale are likely to be predominantly utilised for a combination of re-investment within the remaining companies in the Group and a return to shareholders."