Lighthouse Group paid former executive chairman David Hickey £260,000 upon his resignation from the firm following its failed attempt to delist from the Aim market.
Lighthouse proposed to delist from the market in July last year but failed after 53 per cent of shareholders voted against the proposal. It required 75 per cent of votes in order to push the motion through.
Hickey then resigned the following month.
A statement in the firm’s accounts says the proposed delisting cost Lighthouse £314,000 including a £259,000 payment to Hickey.
It says: “The costs include £259,000 paid in respect of the former executive chairman of the group in order to meet the group’s contractual obligations in relation to his departure from the board.”