View more on these topics

Lighthouse attempts to reassure shareholders ahead of delisting vote

Allan Rosengren 480

Lighthouse has attempted to reassure shareholders that its management is not looking to take control of the group, ahead of a vote on its proposed de-listing from Aim.

Earlier this month, Lighthouse announced its intention to delist from Aim, citing a number of disadvantages it believed it was suffering due to its quoted structure.

The group intends to move to a public unquoted structure but requires the approval of 75 per cent of shareholders with a shareholder meeting set for July 31. A significant number of shareholders have raised their concerns about the delisting.

Addressing shareholder concerns about governance that have been expressed in the media, Lighthouse says the group will continue to hold regular shareholder meetings, maintain non-exec representation on the board and operate audit, remuneration and risk committees. Lighthouse also says it will look at the feasibility of restoring dividend payments, dependent on business performance.

Lighthouse Group chairman David Hickey says: “The plain truth is the lack of positive sentiment in the stock markets for IFA businesses.  For Lighthouse, at this time, there are no attractions to being on AIM, and too many disadvantages.”



News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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