Lighthouse Group

2959 days ago

Lighthouse gets a bid - goody goody lets bank gains

Lighthouse Group (LGT) on Friday noted an offer approach announcement from fellow AIM-listed financial services group AFH Financial and responded that it “believes that the indicative offer from AFH fundamentally undervalues the group and its prospects, especially in the context of the group's net cash position of £7.9 million as at 31 December 2015”.

2986 days ago

Lighthouse: good results, confident outlook, last chance to buy

IFA network, The Lighthouse Group (LGT) has announced results for 2015 and that it “is well positioned to deliver future growth”. We are ahead on this share tip but there is more to come.

3128 days ago

Buy Lighthouse at a 9.5p offer

Investment Case: Shares in UK financial adviser Lighthouse Group plc (LGT) are only now returning to levels of 2011 with its industry having faced a period of unprecedented change in recent years from the likes of the Retail Distribution Review. However, resulting challenges look to now be giving way to opportunities – and though the share price has already risen strongly this year, to a current 9.5p offer, there looks decent growth and income upside still to come.

3960 days ago

Lighthouse Group – Long Term Value play? ( Guess who I met on a train)

I noticed this morning that AIM Listed Lighthouse Group (LGT) had put out a rather dull announcement. As such it was on my radar and as I sat down on the train from Bristol to London who should wander in but ex Lighthouse boss Allan Rosengren. I learned that Rosengren is Swedish not Norwegian as I had assumed and that he had bought a few more shares in Lighthouse taking his holding to 15%. So should we all follow him?

4258 days ago

Lighthouse – Chairman goes. Hooray. More changes still needed

The summer campaign to stop the chairman of AIM listed IFA Group Lighthouse (LGT) from taking the company private and then to have him booted out and replaced by former CEO Allan Rosengren has almost been won. Rather than face a second humiliation in two months at a forthcoming EGM called to boot him out, Hickey has resigned. That is a start. But not enough.

There is a new chairman from the existing board. Rosengren has not been called back yet. The whole board signed up to the appalling de-listing proposal

4273 days ago

Lighthouse Group – Almost There: chairman’s days numbered?

AIM Listed IFA group Lighthouse (LGT) is to be forced to hold a General Meeting to vote on proposals to boot out Chairman David Hickey and bring back ex CEO Allan Rosengren. This follows Hickey’s failed attempt to get Lighthouse delisted – a move I opposed bitterly.

Hickey has been a disaster for shareholders. With a small holding himself he is grossly overpaid and has allowed PLC costs to escalate badly rather than increasing the dividend as he should have done and could have done given that Lighthouse has stacks of cash and is profitable and cash generative. Rosengren will restore the balance.

At the GM for the delisting 46 million shares were cast Hickey’s way and 53 million against. 29 million shares did not vote. So do not assume that this is a shoe-in

4288 days ago

Lighthouse – We Win. Time for Board to Walk – Bring back Rosengren

The prize shits who sit on the board of AIM listed IFA group Lighthouse (LGT) have been defeated. They wanted it to go private so they could stick their noses in the trough even more. Lighthouse needed 75% of the vote to get the de-listing approved. In fact the shareholders voted 54% to 46% against the delisting.

This site led the way in pointing out that the idea was a crap one and also that it was bound to be defeated. I spoke to Allan Rosengren the ex CEO who owned 14.6% of Lighthouse regularly and knew he was voting no. But the board ploughed on wasting more shareholders cash even though they were bound to lose and knew it. That alone should be a resignation matter for chairman David Hickey.

This whole affair is humiliating for the board which now has ZERO mandate to continue in office and which has done sod all to create shareholder value. In fact it has destroyed it.

I now publically call on chairman David Hickey to resign with immediate effect

4295 days ago

Lighthouse Group – Increasingly Desperate Directors Suck Big Time. Still Say No.

Using the services of their 3 PR firms and 2 brokers, no doubt, the wretched directors of AIM listed Lighthouse Group (LGT) has issued another statement imploring shareholders to support plans for a de-listing. Remember they need 75% support. I reckon that they are worried and fear defeat. If the proposal is rejected as it should be, an honourable board would step aside. This s not an honourable board but their hand could be forced.

Today’s statement contains nothing much new. The company says it will arrange for a matched bargain share dealing facility post AIM. That is no good. All that facilitates is directors offering to buy stock for peanuts