Quilter's wholly owned subsidiary Intrinsic completed the acquisition of the entire issued and to be issued ordinary share capital of Lighthouse, a financial advisory company. Lighthouse Shareholders will receive 33p ($0.40) in cash for each Lighthouse share. The acquisition values the entire share capital of Lighthouse at c. £46m ($56m) and represents a premium of c. 24.5% to the closing price of 26.5p ($0.31) per share on 2 April 2019 (being the last business day prior to this announcement). "At Quilter, our focus is on delivering good client outcomes and that always starts with advice. We are delighted to have agreed a recommended cash offer for Lighthouse and look forward to their advisers joining the Quilter family. As the advice market consolidates, the strategic acquisition of Lighthouse will help secure Quilter's position as the place to go for trusted financial advice in the UK," Paul Feeney, Quilter Chief Executive Officer.