Tak Lee issues £10.4m legal action against Shaftesbury

Samuel Tak Lee

West End investor Shaftesbury has said it will ‘robustly’ defend a legal action it has been served by Samuel Tak Lee regarding a share placing it conducted in 2017.

The Hong Kong billionaire alleges the £265m fundraising in December 2017 was a plot to dilute shareholders and prevent him from mounting a takeover bid. Tak Lee’s action challenges both the rationale for the placing and the way in which the shares were allocated.

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