In 1997, Anglo United, which had an unsustainable amount of debt, underwent a capital reconstruction and distributed shares in Falkland Islands Holdings plc to its shareholders.

In December 2004 FGML raised £10m and shares admitted to AIM, FOGL was granted an exploration licence over a further 50,000 km2 to the South and East of the islands and FIH acquired Portsmouth Harbour Ferry Company for £7.5m.

In January 2007 FIH sold 100% of its holding in FGML for 6p per share to RAB Capital and in October 2007 FOGL announced a farm-in deal with BHP Billiton to fund drilling programme in South Atlantic.

In March 2008 FIH acquired 100% of Momart, a UK market leader in the handling and storage of fine art and antiquities, for £10.27m.

The proceeds from the share issue were used to develop the group's assets in the Falkland Islands in anticipation of the economic growth that the board believed would follow.

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[5] In January 2016 the company had a capital reorganisation involving a share consolidation (1,000 to 1) and split (1 to 1,000) decreasing the number of shareholders from 2,139 to 510.

[9] The announcement of a potential takeover by an Argentinian group gained press coverage due to the highly political nature of the islands.

In November 2021 the Board announced that John Foster would step down from his position as CEO after 17 years and be succeeded by Stuart Munro.