View more on these topics

Ex-Lighthouse chairman Hickey paid £260k after Aim delisting failure

David-Hickey-Lighthouse-300.jpg
David Hickey

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.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Richard Bishop 6th June 2013 at 4:52 pm

    Sad loss for the network, a good man IMO.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com