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Lighthouse Quilter deal gets court approval

A court has given final signoff to Quilter’s acquisition of Lighthouse.

In a stockmarket update yesterday, the companies revealed that the court had sanctioned the deal arrangement, under which the entire share capital of Lighthouse is being purchased by Intrinsic.

Lighthouse shares are due to stop trading from 12 June, and Lighthouse’s AIM shares will be cancelled on 13 June.

The arrangement had already been agreed by a majority of Lighthouse shareholders.

Where will the Quilter-Lighthouse tie-up take its advisers?

The announcement adds that because the court has sanctioned the deal, share options under Lighthouse’s long-term incentive plan can now be exercised by management.

Further stock exchange records show that Lighthouse chief executive Malcolm Streatfield, finance director Peter Smith, and compliance and risk director Ken Paterson have all exercised their options.

Streatfield is left with a 5.6 per cent stake in the company, Smith a 3.1 per cent stake, and Paterson a 0.8 per cent stake.

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