Okay I managed to resolve it. For anyone who might find it useful, here goes:
In the lightword theme folder (wp-content\themes\lightword\) open functions.php and search for the lightword_simple_date() function.
Change line from:
echo "<div class=\"simple_date\">".__('Posted on','lightword')." ".get_the_time(__('F j, Y','lightword'))."</div>";
to:
echo "<div class=\"simple_date\">".__('Posted on','lightword')." ".get_the_time(__('F jS, Y - H:i','lightword'))."</div>";
Hope this helps somebody.
