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RNS Number : 3314I Lighthouse Group PLC 24 July 2012 ? Press release 24 July 2012 Lighthouse Group plc ("Lighthouse", "the Company" or "the Group") Financial Adviser Awards: Large IFA of the Year Re. Proposed cancellation of trading on AIM Further to the announcement made by the Company on 9 July 2012 regarding the proposed cancellation of admission of Ordinary Shares to trading on AIM (the "Cancellation"), and in advance of the General Meeting to be held on 31 July 2012, the Board of Lighthouse would like to reiterate that Shareholders should be aware of the following matters. Since the announcement on 9 July 2012 there has been some speculation that it is the intention of some or all of the Group's management to take control of the Company. The Board confirms that there is no such intention. The Board has made its recommendation to Shareholders and is enabling Shareholders to decide on the proposed Cancellation on the basis of the information presented to them. The Board would like to emphasise the reasons behind the proposed Cancellation and the Directors' recommendation to vote in favour of the Resolution: ? The conventional attractions of being admitted to trading on AIM (such as raising funds and using quoted shares as currency) have not applied to the Company for some time and are not likely to in the short or medium term ? The Board believes that the perceived value of the Group imposed on it by its stock market listing does not reflect the true value of Lighthouse, and distorts the relative value of the Group compared to unquoted comparators ? There is currently considerable negative sentiment in the financial services industry in general, and for IFA groups in particular, and the Board does not expect this to improve for some time Following careful consideration, the Directors have therefore concluded that it is no longer in the best interests of the Company or its Shareholders to maintain the Company's admission to trading on AIM and the Board considers that the costs and commercial disadvantages of remaining listed on AIM far outweigh any potential benefits. The Board is not currently aware of any Shareholders who cannot hold shares in an unquoted company. Following the proposed Cancellation, it is the Board's intention to set up a matched bargain arrangement with a regulated stockbroker or other specialist to enable Shareholders to trade the Ordinary Shares. A number of specialist entities have already approached the Company in this regard. Once finalised, details of this facility will be published. The Cancellation is not expected to reduce the Company's high standards of corporate governance, as the Board has undertaken to continue to: (a) hold regular Shareholder meetings; (b) maintain non-executive representation on the Boar
Shares in Lighthouse Group, the financial advice and wealth management group, plunged on Monday after the company proposed to cancel its listing on AIM. The group must receive approval from shareholders representing at least three-quarters of the company's shares for the cancellation to be approved. The firm will officially propose the cancellation at a general meeting on July 31st. If a cancellation is approved, it is expected it will take effect on August 8th.
Shares in Lighthouse Group (LGT) slumped by 1.75p to 3.125p as the independent financial advisory firm requested shareholder approval for the cancellation of admission of its shares from AIM. "For some time the conventional advantages of being listed on AIM have not applied to the company" commented chairman David Hickey. A shareholder vote will be completed at a general meeting at the end of July, with 75% or more of the votes needed in favour for the cancellation to take place.
Anyone have any thoughts? Check out the link for the full RNS http://www.lighthousegroup.plc.uk/News/Article.aspx?ID=240¶m=Proposed+Cancellation+of+Trading+on+AIM RNS Number : 1687H Lighthouse Group PLC 09 July 2012 Financial Adviser Awards: Large IFA of the Year Proposed cancellation of trading on AIM The Company today announces that it intends to seek Shareholder approval for the cancellation of admission of its Ordinary Shares to trading on AIM (the "Cancellation"). Under the AIM Rules, it is a requirement that any cancellation of admission to trading on AIM must be approved by not less than 75 per cent. of votes cast by shareholders voting in a general meeting. Accordingly, the Company is today sending to Shareholders a circular and notice of general meeting convening the General Meeting at which a special resolution will be proposed to approve the Cancellation (the "Circular"). The Circular will be available shortly on the Company's website at www.lighthousegroup.plc.uk. ........Background to the Cancellation Lighthouse was incorporated and admitted to trading on AIM in late 2000. At the time, a number of IFA businesses had their shares publicly traded, and the initial fund raising for Lighthouse was considerably assisted by an AIM quotation. It was generally believed that trading and development prospects for the IFA sector were sound, and consequently the investment community was supportive, especially of the many new IFA businesses being formed and floated. In the immediate aftermath of that period, some groups prospered for a time and during 2001 the aggregate market value of quoted IFA groups exceeded £250 million. However in subsequent years a number of high profile IFA groups, including the majority of those quoted, ran into regulatory and trading difficulties, and became insolvent. Today Lighthouse constitutes the only IFA group still quoted on AIM and its current market capitalisation is approximately £6 million. Recommendation to Shareholders The Directors consider the Resolution to be in the best interests of the Company and Shareholders as a whole and consider that it is most likely to promote the success of the Company. The Directors therefore unanimously recommend Shareholders to vote in favour of the Resolution at the General Meeting, as they intend to do in respect of their own beneficial holdings of, in aggregate, 9,083,835 Ordinary Shares representing approximately 7.1 per cent. of the issued share capital of the Company at the date of this document. http://www.lighthousegroup.plc.uk/News/Article.aspx?ID=240¶m=Proposed+Cancellation+of+Trading+on+AIM
Lighthouse Financial Advice has signed a three year exclusive contract to provide financial planning advice to members of British Airways Clubs. This adds another major organisation to LFA's affinity partners, consisting of major employee organisations. Lighthouse will offer its affinity partners a full range of financial advice services including investing for income and growth, retirement planning, pensions advice, tax planning including inheritance tax, life assurance and family protection as well as advice on saving for future family events such as university fees. The agreement begins July 1st.
After a period of mainly trade-sells, at last it is good to see an investor who has purchased 100,000 shares. This will almost immediately yield 2.7% dividend due to be paid in June with hopefully a further dividend towards the end of the year. Maybe over 3% in total? Coupled with that, there should be capital growth, soon. The Company is sound, undervalued and top of its class with the latest Large IFA Award.
The latest award is very good news. I have tried to put a graphic, here, but this site will not let me. But THREE YEARS RUNNING cannot be anything but excellent news. Investors need to be aware of the www.Lighthousegroup.plc.uk website and articles written by Andy Gadd. Andy has worked in the financial services industry since 1985. Before joining Lighthouse in May 2003 he was a Senior Investment Manager within the Managed Fund Team at Principal Investment Management, managing discretionary portfolios of managed funds for high net worth individuals. Andy is an individually Chartered Fellow of the Chartered Securities Institute (Chartered FCSI). He also holds the Diploma in Financial Planning of the Personal Finance Society (DipPFS) and the Investment Management Certificate of the Institute of Investment Management and Research (IMC) The Company continues to have NO BANK DEBT which is remarkable in these troubled financial and political times. The share price is surprisingly low and bears little relation to the true value of the company. Times are a-changing for all financial advisers and 2013 looms, now. Obviously, it is impossible to predict the effect of regulatory change and remuneration for advisers but, advice will still be in demand, investors and the general population will continue to require advice on protection, investment and pension products and all will have to become used to the new payment structure. It will seem like a premium, maybe. Everyone is used to paying premiums, anyway, so will there be a huge difference? Internal costs should reduce and up-front costs will rise slightly but overall, long-term investment results will certainly rise because of lower charging costs.
Lighthouse Group PLC Lighthouse Group wins Large IFA of the Year award RNS Number : 0937C Lighthouse Group PLC 26 April 2012  Press Release 26 April 2012 Lighthouse Group plc ('Lighthouse' or 'the Group') Lighthouse Group wins FT Business Large IFA of the Year Award for the third year running Lighthouse Group is delighted to announce that, at yesterday's annual Financial Adviser Life and Pensions Awards luncheon hosted by FT Business, the Group won the Large IFA of the Year Award 2012. This builds on the Group's success having won the same award in both 2010 and 2011.
I do not know what your average is here. However, I believe that at this price ones money is pretty safe. I suspect the headline loss recently declared will put a lot of people off. I this this as a nice opportunity to top up when I have finds available.
As other correspondents have said, the price/share is vastly too low at £0.0563 which, iff all shares were realised would yield about £7M whereas the price needs to be nearer 9p/share just to equate with value of cash in bank (with no debt). Further, this value will show nothing for the goodwill of the company and other assets. Why is the share price so very low? What is The Board doing about this state of affairs? The share price has been falling and falling for a period of years, now - yet the results do show steady improvement in difficult times When do we give up all hope of improvement?
This is way too cheap with a valuation of less than 8m. They have 11m in cash and at 21% increase in EBITDA to 1.6m and recurring revenues upto 30% This will come good soon I hope
RNS Number : 1092Z Lighthouse Group PLC 12 March 2012 Financial Adviser Awards: Large IFA of the Year 2011 and 2010 Preliminary Results Lighthouse Group plc (AIM: LGT) today announces its preliminary results for the year ended 31 December 2011. Summary Average annualised revenue per adviser up 11 per cent. • Like-for-like recurring revenues up a further 5 per cent. to 30 per cent. of Group revenues • 21 per cent. increase in EBITDA* to £1.6 million (2010: £1.3 million) • Net cash balances of £11 million • Final dividend of 0.27p per share to be paid in June (2010: 0.24p) • Non-recurring charge of £3.4 million in respect of historic trading of Sumus sub-group and network re-organisations * Earnings before interest, tax, depreciation, and amortisation and non-recurring operating expenses Commenting on the results, David Hickey, Executive Chairman of Lighthouse Group plc, said: "Trading again progressed well during the period, with EBITDA rising for the sixth consecutive results announcement. The proportion of recurring revenues now exceeds 30 per cent. of the Group's total and continues to rise; average revenue per adviser rose noticeably; and the Group's operations continue to generate significant cash. http://www.lighthousegroup.plc.uk/News/Article.aspx?ID=236¶m=Preliminary+Results "The non-recurring operating expense charge of £3.4 million comprised principally the Falcon closure charge of £2.9 million announced in September 2011 at the time of the Interim Results. Subsequently the second Sumus regulated entity, FSAS, has also been effectively wound down, and the Group now operates principally through one regulated entity only. "The Group balance sheet remains strong with substantial cash deposits. As the industry approaches the introduction of the Retail Distribution Review, it is increasingly evident that operational scale and financial strength are becoming key differentiators in the industry."
RNS http://www.lighthousegroup.plc.uk/News/Article.aspx?ID=231¶m=Interim+Results Lighthouse Group plc (AIM: LGT) today announces its interim results for the six months ended 30 June 2011. Summary Average annualised revenue per adviser up 8% 50% increase in EBITDA* Like-for-like recurring revenues up a further 5% to 28% Net cash balances of £11.8 million, up £0.6 million from 31 December 2010 after tax and dividend payments Interim dividend of 0.13p per share to be paid in October Non-recurring charge of £2.9 million in respect of Falcon historic trading and network re-organisation Financial position Cash balances amounted to £13.6 million at the period end, compared to £12.3 million at the end of the corresponding previous period. Net cash balances after adjusting for the five year trading facility rose from £11.2 million at the end of December 2010 to £11.8 million by 30 June 2011. The facility, which is repayable in instalments, is expected to be retired fully from surplus operating cash flows, in line with expectations, by mid-2012. The Group has no bank debt. Dividends Group trading in the first half of 2011 was in line with expectations and the Group's underlying cash generation has remained strong. Accordingly your Board has decided to increase the interim dividend for 2011 to 0.13p (2010: 0.12p) to reflect that progress, as well as continuing confidence in the Group's prospects. The interim dividend is expected to be paid on 27 October 2011 to shareholders on the register at 7 October 2011.
Dividends up 20% http://www.lighthousegroup.plc.uk/News/Article.aspx?ID=4126176¶m=Preliminary+Results Highlights ● Revenue up 4% to £63.1 million ● Recurring revenues increased by 7% to £17.6 million and now comprise 28% of Group revenues ● EBITDA up 22% to £1.32 million before non-recurring operating expenses of £164,000 ● Net cash balances up 27% to £11.2 million ● Profit on sale of Pensions Division of £1.24 million ● Basic earnings per share of 1.14p ● Total dividends for the year up 20% to 0.36p per share on annualised basis ● Further affinity relationships established ● RDR preparations continuing Commenting on the results, David Hickey, Executive Chairman of Lighthouse Group plc, said: "The Board is pleased with the Group's strong performance during the year. In particular, we have improved profitability and added to our already significant cash resources. During the period we have also focused on improving the quality of earnings by further increasing recurring revenues. "We are pursuing both organic growth through developing our affinity relationships, as well as continuing to assess acquisition opportunities. The Board is satisfied that the Group remains operationally well positioned and financially robust." Commenting on the results, David Hickey, Executive Chairman of Lighthouse Group plc, said: "The Board is pleased with the Group's strong performance during the year. In particular, we have improved profitability and added to our already significant cash resources. During the period we have also focused on improving the quality of earnings by further increasing recurring revenues............................... .Check it out.... Also today .... BRIEF-Lighthouse wins advice contract for union LONDON, April 4 (Reuters) - Lighthouse Group PLC: * Lighthouse wins three year contract with prospect ((London
Nice little rise today, does anyone know when in October DIV is payable?
Great results out today. Divi in October. The potential of this looks very good imo. DYOR.
RNS Number : 5727K Lighthouse Group PLC 21 April 2010 Press Release 21 April 2010 Lighthouse Group plc ('Lighthouse' or 'the Company') Lighthouse wins 'Large IFA of the Year' at the Financial Adviser Awards 2010 Lighthouse Group (AIM:LGT), the national financial advisory group, is pleased to announce that it has won the Large IFA of the Year Award 2010 at the Financial Adviser Awards, announced today at a presentation in Savile Row, London. This prestigious award is based upon a written submission of a case study and is judged by experts in the field of Life and Pensions. The case study was submitted by Lighthouse+, the Company's division which provides specialist advice on the complex area of pension reviews and planning to individuals and financial advisers. David Hickey, Chairman of Lighthouse Group, commented: "The Board is delighted to have been recognised in the industry as the leading large IFA. The award follows a period of very positive growth for Lighthouse, building on the Company's recent final results, as well as our increasingly strong relationships with affinity groups. We are extremely pleased to have this acknowledgement of our successes at these awards, an honour which reaffirms Lighthouse's leading position within the industry." Lighthouse Group plc www.lighthousegroup.plc.uk About Lighthouse Group plc Lighthouse Group is one of the largest independent financial adviser groups in the UK, with over £6 billion of funds under advice. The Group is cash generative, profitable and dividend paying. Lighthouse Group provides support to in excess of 800 IFAs across the UK who, in turn, provide financial planning advice to both private and corporate clients via its operating divisions.
LONDON (Dow Jones)--Financial advice and wealth management group Lighthouse Group PLC (LGT.LN) Monday swung into a pretax profit for the full year and said it was looking at acquisition opportunities, as well as developing its affinity relationships. Affinity business involves relationships with various professions, trade unions, and other associations. Lighthouse added that "very few" of the acquisitions it has looked at over 2009 and so far this year have been acceptable, either in terms of risk or valuation. For the year ended Dec. 31, Lighthouse posted a pretax profit of GBP93,000 after a pretax loss of GBP8.5 million in 2008. Revenue increased to GBP60.7 million from GBP54.4 million while cash balances rose 9% to GBP13.4 million. Company Web site: www.lighthousegroup.plc.uk -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires March 22, 2010 03:24 ET (07:24 GMT)
2 lovely buys, and a bit of info below 16-Mar-10 13:24:15 9.00 784,000Buy* 8.509.00 £70.56k 16-Mar-10 13:23:17 9.00 1,000,000Buy* 8.509.00 £90.00 RNS Number : 5241I Lighthouse Group PLC 15 March 2010 Press Release Lighthouse Group plc Notice of Preliminary Results Lighthouse Group plc (AIM: LGT) will announce its Preliminary Results for the year ended 31 December 2009, on Monday, 22 March 2010. An analyst briefing will be held at the offices of Abchurch Communications, 16th Floor, 125 Old Broad Street, London, EC2N 1AR, at 9.30am on Monday, 22 March 2010. www.lighthousegroup.plc.uk About Lighthouse Group plc Lighthouse Group is the largest autonomous provider of independent financial advice, wealth management and distribution of retail financial products in the UK, with in excess of £6 billion of funds under advice. The Group is cash generative, profitable and dividend paying. Lighthouse Group provides support to approximately 900 IFAs across the UK who, in turn, provide fully independent financial planning advice to both private and corporate clients via its operating divisions. Based in major operational centres across Britain, the Group has grown through both organic growth and key strategic acquisitions since being admitted to AIM in October 2000. RNS - 3rd March 2010 http://www.lighthousegroup.plc.uk/News/Article.aspx? ID=3314896¶m=LighthouseTemple+appointment+by+the+Royal+Mint http://www.lighthousegroup.plc.uk/Files/FeatArts/110310-MillionairePortfolios.pdf
Investor Relations LighthouseGroup is the UK's largest autonomous Independent Financial Advice and Wealth Management Group. AIM listed in 2000 Lighthouse presents an integrated financial services company for investors. Lighthouse has an untarnished reputation with the Financial Services Authority (FSA), significant scale in terms of distribution through IFAs and a diversified model. Unlike many IFA companies both past and present Lighthouse offers financial stability - operating without bank debt, a vast potential for growth and a strong management team. All of which have enabled Lighthouse to succeed. "We believe that Lighthouse is the leading listed IFA in terms of financial stability, management strength and potential growth…" Investment analysts Daniel Stewart & Company The information in this section has been disclosed pursuant to Rule 26 of the AIM Rules for companies. This information was last updated on 2/19/2010.
RNS Number : 6384H Lighthouse Group PLC 25 February 2010 Press Release 25 February 2010 Lighthouse Group plc ('Lighthouse' or 'the Company') Second Interim Dividend Payment The Board of Lighthouse Group plc (AIM: LGT) has decided that it is in the interests of the shareholders to pay a second interim dividend of 0.2 pence per ordinary share in respect of the year ended 31 December 2009, instead of recommending a final dividend payment. The second interim dividend will be paid on 1 April 2010 to all shareholders on the register on 5 March 2010; the shares will be marked ex dividend on 3 March 2010.
RNS Number : 1997C Lighthouse Group PLC 09 November 2009 Press Release 9 November 2009 Lighthouse Group plc ("Lighthouse" or "the Group") Appointment of Director The Board of Lighthouse Group plc (AIM: LGT) announces the appointment of Mr Mark Stuart Ross to the Board as Group Risk Director with effect from 20 October 2009. Mr. Ross has been Company Secretary since March 2008, having joined the Group at the start of that year. Prior to joining Lighthouse, Mr Ross led the Ernst & Young South West Regulatory and Risk Practice. He has over fifteen years' compliance and risk management experience gained with regulators, in senior industry positions, and various consulting positions. These included acting as head of IMRO Compliance at AXA Sun Life, and Head of UK Compliance at 3i PLC. Mr Ross is a graduate of Bristol University and a Chartered Accountant. David Hickey, Chairman, commenting on the appointment said: "This new role reflects the need for strategic risk management to be embedded at the heart of regulated organisations. "Mark possesses considerable risk management, governance and regulatory expertise, and the Board joins me in welcoming him."
Are you in here? I expected to see an increase follwoing the results in Sptember but nothing so far, although i'm holding for the long term do you think its worth topping up?
Press Release 21 September 2009 Lighthouse Group plc ("Lighthouse" or "the Group") Interim Results Lighthouse Group plc (AIM: LGT) today announces interim results for the six months ended 30 June 2009. Highlights * Strong cash position * EBITDA increased to £526,000 (H1 2008: £513,000) * Revenue up 15 per cent to £29.3 million (H1 2008: £25.5 million) * Recurring income continuing to rise * Successful integration of Godfrey Pearson * Interim dividend of 0.2p per share to be paid in October Commenting on the results, David Hickey, Executive Chairman of Lighthouse Group plc, said: "The Group has performed well throughout a tough period, seeing increases in revenues, profits and EBITDA at the headline level. Having anticipated weaker IFA revenues for the period, the Board took a number of early cost reduction steps which have enabled the Group to continue to trade profitably. "Lighthouse's scale and its financial strength together augur well for both organic and acquisitive growth, the latter only where appropriate however. We are well placed to benefit from the changes potentially to be brought about by the Retail Distribution Review, and our positioning within the industry will continue to underpin our growth." - Ends -
With £12 million in the bank, I think these High Court Hears allow the company now to pay dividends IMHO RNS Number : 4284V Lighthouse Group PLC 09 July 2009 Press Release 9 July 2009 The following amendment has been made to the 'Issue & Cancellation of Bonues Shares' announcement released on 0700hrs on 9 July 2009 under RNS¿3737V. The title of the announcement should be 'Issue & Cancellation of Bonus Shares'. All other details remain unchanged. Lighthouse Group plc ('Lighthouse' or 'the Company') Issue and Cancellation of Bonus Shares Lighthouse Group plc (AIM: LGT), the UK's largest autonomous Independent Financial Advice and Wealth Management group, is pleased to announce the conclusion of the capital reorganisation authorised by the resolutions passed at the Company's AGM on 3 June 2009. The Company has now obtained the necessary Court approval to give effect to the elimination of its merger reserve and the increase in its distributable reserves. This was achieved by the capitalisation of the merger reserve, by means of a bonus issue of a total of 330,081,600 new ordinary shares of 1 pence each on 7 July 2009, and the subsequent cancellation of those shares approved by means of an order of the High Court of Justice granted on 8 July 2009. Following the Court order taking effect upon it being registered by the Registrar of Companies, the authorised share capital of the Company will remain 200,000,000 ordinary shares of 1