London Stock Exchange
Advanced charts
Premium community
Data download

Lighthouse de-listing bid to Fail – Time for Board to Pull EGM and Quit

PUBLISHED: 25 Jul 2012 @ 11:50 | Comments (0) | More info about Tom Winnifrith

My pal John Lappin has produced a very good piece on the Lighthouse (LSE:LGT) EGM in which he reckons that more than 30% of shareholders will certainly vote NO. And I know a few more – this number does not include any private investors who we know are all voting no. So the delisting proposal will not get the 75% it needs. Frankly it might even be defeated.

I explained earlier in the week why shareholders must make the effort to vote, should vote no and should then demand the head of Chairman David Hickey. You can read that HERE.

That does not mean you should not bother to vote (in person or via proxy). Please do. If the board faces an outright defeat it must consider if it has the confidence of shareholders and can continue. My suggestion that Allan Rosengren be asked by the NEDS to return, slash PLC costs and double the dividend would have popular support. This is game on…the knobheads can be sent packing in a rare victory for shareholders against greedy boards whose interests are not aligned with those who own the business.

You can read John’s piece HERE

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @tomwinnifrith

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.