Lighthouse is to offer shares to a vast majority of its advisers. The IFA is to make cash payments totalling £150,000 and issue options of over 1.2 million shares at an exercise price of 1p each. This amounts to around 3.4 per cent of the issued ordinary share capital of Lighthouse Group.
The options have an aggregate value of around £320,000 and can be exercised to 50 per cent on or after 30 September 2004, with the balance available on or after 31 December 2004. All options must be exercised by 31 December 2013.