- Lighthouse outlined the full terms and conditions of its 33p-a-share sale in cash to Intrinsic and confirmed shareholders were expected to vote on the deal by no later than 8 May.

The acquisition was expected to be effected by means of a Court-sanctioned scheme of arrangement between Lighthouse and Lighthouse Scheme Shareholders, the company said.

To become effective, the scheme required among other things, that the majority in number of the Lighthouse Scheme Shareholders, representing not less than 75% in value of the Lighthouse Scheme Shares, vote in favour of the acquisition at both the court meeting and the resolution at the general meeting by no later than 10.00 am on 8 May 2019, in the case of the court meeting, and by no later than 10.15 am on 8 May 2019, in the case of the general meeting.

The update comes after the boards of Quilter, Intrinsic and Lighthouse had announced on 3 April 2019, that they had reached agreement on the terms of a recommended cash offer for the company.

At 8:15am: [LON:LGT] Lighthouse Group PLC share price was +0.5p at 33p

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