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Ex-Lighthouse boss Rosengren supports rebel shareholders
by Jun Merrett on Aug 16, 2012 at 07:54
Former Lighthouse Group chief executive Allan Rosengren has committed to a return to the IFA group as director if shareholders' call for chairman David Hickey to go is successful.
Lighthouse Group has received a request from shareholders to remove chairman David Hickey as director of the company to be replaced by Rosengren (pictured)
Rosengren, who owns 15% of the group's shares said he was supportive of the resolutions.
'I was asked if I would act in the capacity of a director and of course I would. It is time the company was back on the front foot and seeking to grow profitably again. That is one key reason,' he said.
'Shareholders do deserve to have a say in how the business is run going forwards...it is unfinished business. The company can do so much more than it has been doing, so I'd like to see it fulfill its potential.'
Rosengren said he could not say whether he would replace Hickey as chairman of the group, arguing that while the shareholders could call for the appointment of the director, it was up to the board to determine who fills the chairman role.
Rock Holdings Limited and Southern Rock Insurance Company, who together own 5% of the group's shares, have requested to hold a general meeting to propose a resolution to remove Hickey (pictured) as a director.
Lighthouse will send a circular notice to shareholders no later than 3 September and has advised shareholders not to take any action in connection with the meeting until they have read the circular.
A note from Lighthouse said: 'The requisition has been received from Rock Holdings Limited and Southern Rock Insurance Company, who together own approximately 5%. of the company's issued share capital, and proposes the following ordinary resolutions:
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