Tak Lee issues £10.4m legal action against Shaftesbury

By David Parsley2019-06-11T07:14:00

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.

This content is only available to registered users

You must be logged in to continue

Would you like to read more?

Try Property Week For Free to finish this article.

Unlimited access to Property Week
Breaking news, comment and analysis from industry experts as it happens
Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue