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Lighthouse and Sumus merger effective today

The merger of Sumus Group into Lighthouse becomes effective today, resulting in the de-listing of Sumus shares.

New Lighthouse shares were admitted to the Aim market of the London Stock Exchange at 8.00 am this morning.

The consideration of new Lighthouse shares and/or cash will be paid out by Lighthouse to Sumus shareholders no later than May 20.

In their roles as joint chief executives, former Sumus chief executive Allan Rosengren and incumbent Lighthouse chief Malcolm Streatfield will take responsibility for moving funds under advice and administration and the group’s Sipp business, City Trustees and for group operations and integration, respectively.

Former Sumus finance director Peter Smith will take on this position for the newly enlarged group.

Lighthouse board has declared the special interim dividend of 0.5 pence a share, which intends to be paid out on May 9.

Group chairman David Hickey says: “We are pleased to formalise the new board of the merged entity. We have a strong and cohesive team and I am confident that, with the merged team, we will be able to realise the considerable potential of the group.”

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