Lighthouse Share Discussion Threads

[paulkent] 12/11/2002 16:01

big drop....no news...no trades!!...wonder whats cooking?..and wonder how everyone else seems to know except the public??

[the principal] 04/11/2002 13:37

ANNOUNCEMENT
FOR IMMEDIATE RELEASE
4th November 2002

AEGON UK INVESTS IN LIGHTHOUSE

UPDATE ON CANADA LIFE RECRUITMENT

RESULT OF EXTRAORDINARY GENERAL MEETING



AEGON UK

Lighthouse Group PLC ("Lighthouse") announces that it has entered into an agreement under which AEGON UK PLC ("AEGON UK") will subscribe for 1,928,049 new ordinary shares of 1p each in Lighthouse ("Ordinary Shares") which, when added to an existing holding of 320,000 Ordinary Shares, will represent approximately 9.2 per cent of Lighthouse's issued share capital (as enlarged by this and the recent Skandia subscription). The subscription by AEGON UK is at a price of 52p per share, payable on completion.

Lighthouse (including its subsidiary BWA) and AEGON UK, primarily through its subsidiary Scottish Equitable, have had a good relationship for many years and the Board of Lighthouse believes that this subscription will result in increased cooperation in the medium term, to the continued advantage of both parties.

The cash proceeds to be received by Lighthouse resulting from this share issue will amount to approximately £1 million. The funds raised will be used in connection with the continuing recruitment drive by Lighthouse, and for general working capital purposes. The new ordinary shares being issued to AEGON UK will rank pari passu with all other shares currently in issue and it is expected that these shares will be admitted to trading on AIM on 7th November 2002. After admission, the enlarged issued ordinary share capital of Lighthouse will amount to 24,431,046 Ordinary Shares.

CANADA LIFE

On 30th September 2002 Lighthouse announced that it had secured exclusive arrangements to recruit the entire Canada Life sales force, including 198 advisers. Lighthouse is pleased to announce that, as at 31st October 2002, legally binding contracts had been signed with 170 advisers. In addition, the FSA's agreement to block transfer the regulatory responsibility for these advisers to Lighthouse, means that the overwhelmingly majority are able to commence trading immediately. The Board of Lighthouse is very pleased with the satisfactory conclusion of these arrangements, welcomes the new members into the Lighthouse Group, and looks forward to a mutually beneficial commercial relationship.

EXTRAORDINARY GENERAL MEETING

Lighthouse announces that, at an Extraordinary General Meeting held earlier today, a special resolution to approve the increase in share capital required for the purpose of the subscriptions by Skandia and AEGON UK, was approved unanimously.


ENDS


NOTES FOR EDITORS

1. The Lighthouse Group PLC, a rapidly growing firm of independent financial advisers floated on AIM in autumn 2000. Lighthouse operates Lighthouse branded practices, advisers trading under the brand Berkeley Wodehouse Associates, and the BWA network.
2. In April 2002 Lighthouse merged with Berkeley Wodehouse Associates.
3. On 30th September 2002 Lighthouse announced significantly improved interim financial results.
4. Also on 30th September 2002, Lighthouse announced an exclusive agreement with Canada Life to recruit its entire sales force. Successful conclusion of this transaction has brought the total number of advisers in the Lighthouse Group to over 500.
5. AEGON UK is headquartered in Edinburgh and employs over 4500 people in the UK. It is a wholly owned subsidiary of AEGON nv, the international life insurance and financial services group which has its headquarters in The Hague, The Netherlands. AEGON UK currently consists of seven business units; AEGON Asset Management, AEGON Individual Protection, AEGON UK Distribution Holdings, AEGON UK Services, HS Administrative Services, Scottish Equitable and Scottish Equitable International.

For further information please contact:

DAVID HICKEY, CHAIRMAN, LIGHTHOUSE GROUP PLC 020 7065 5604
MALCOLM STREATFIELD, LIGHTHOUSE GROUP PLC 020 7065 5655
JILL CAMPION, KINGS COMMUNICATIONS 07801 480037

[marketear] 01/11/2002 18:59

Bankhall own about 4.5% and are offloading. The IFA`s are having a 20% rise in their recharged regulatory fees. I can see this going well if The Group as a whole take on aggressive growth and expand. News this week that the FSA are to adopt the AIFA menu system will keep the IFAs in the market.

[vizard] 29/10/2002 13:10

What makes you say that principal? And do you mean "Bankhall"?

[the principal] 16/10/2002 18:59

Wait for Banchalls to get rid of the 4.5% that they are attempting to do and then you will see some rises IMHO.

[vizard] 24/7/2002 13:56

More ramping than a wheelchair disco I suspect.

My comment above regarding trusting your instincts was not speculation.

[dubberboy] 23/7/2002 15:57

i think theres been some ramping by the company here, either that or wishful thinking

[vizard] 22/7/2002 21:31

I'd be questioning the integrity of the source of that particular tip. Your instincts and evaluation of the facts serve you well here I suggest.

[paulkent] 14/6/2002 15:10

Probably tipped because theres likely to be a bit of bidding war in financial services for distribution avenues in next twelve months and good large IFAs will be prime targets...altho this one is a bit little...

[ljhc] 06/6/2002 09:02

Same here - tipped but really don't understand why.

[g2m] 05/6/2002 15:48

its a shame their overheads aren't,, LOL

[hobiecat] 05/6/2002 09:05

their valuation is less than 1 x turnover.

[g2m] 01/6/2002 13:35

with all of the forthcoming legislation and changes in the IFA markets i'm trying to find a reason to follow the tip i've been given on this one, but i can't,,does anyone know a reason to buy