The West End landlord Shaftesbury faces a fresh attack from its largest shareholder, the Hong Kong property developer Samuel Tak Lee, over what he claims was an attempt to dilute his holding.
Tak Lee, who now owns 26% of Shaftesbury’s shares, urged fellow shareholders to join him at the group’s annual general meeting on February 8 in voting against resolutions allowing the company’s board to issue new shares.
The exchange heightens tensions in the relationship between the FTSE 250 group and its largest shareholder, who publicly complained last year about a December 2017 share placing that raised £265m.
