A older man smoking a cigarette while pointing his finger at something.
The man is pointing to the lighter he dropped.
The man could be pointing at anything around in his surroundings that are not included in the sentence, the lighter just happens to be part of this surrounding and cannot by implied.
exists e2 e1 s1 x1 x2 x3 x4 x5.(a_topic(x1) & while(e1,e2) & Theme(e2,x4) & Actor(e2,x2) & v_point(e2) & at(x4,x5) & n_thing(x5) & n_finger(x4) & of(x4,x1) & n_male(x1) & Theme(e1,x3) & Actor(e1,x2) & v_smoke(e1) & n_cigarette(x3) & (x1 = x2) & n_man(x1) & r_more(s1) & a_older(s1) & Theme(s1,x1))
exists e1 e2 x1 x2 x3.(n_male(x2) & n_lighter(x2) & n_man(x1) & to(e1,x2) & Theme(e2,x3) & Actor(e2,x2) & v_drop(e2) & (x2 = x3) & Actor(e1,x1) & v_point(e1))