David Hickey, chairman of the Lighthouse Group, has robustly defended the company's proposal to de-list from the AIM stock market, saying critics of the move are "ill informed or ignorant".
Chairman David Hickey explained that the move aims to de-couple a misleading share price of 3.5p from the real value of the business. "Ten years ago the share price was over 75p; it is now 3.5p. During that period, turnover at Lighthouse increased from £4m to £60m. The share price clearly doesn't reflect the value of the business." Hickey said there were several reasons for the disparity between the perceived and real value of the company, including that negative press about the future of the industry has left few wanting to invest in IFAs. "Lighthouse is in good financial shape, b...
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