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Lighthouse directors increase ownership through EBT allocations

Lighthouse Group directors David Hickey and Malcolm Streatfield have increased their stakes in the group through employee benefit trust allocations.

Hickey increased his stake from 0.34 per cent to 4.04 per cent and Streatfield went from 0.22 per cent ownership to 1.68 per cent.

They made a combined cash payment of £237,000 as part of the company’s employee benefit trust allocations.

Lighthouse executive chairman David Hickey says: “Cash payments in excess of £200,000 by directors represent a very substantial commitment to Lighthouse.”

There has been speculation that today’s pre-Budget report might propose the removal of the tax advantages of employee benefit trusts.

Lighthouse denies the move was timed to pre-empt any changes.

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