Tycoon intends to sue Shaftesbury

Samuel Tak Lee  who owns 26 per cent of Shaftesbury, which controls strips of prime London properties, including China Town, Carnaby Street, Covent Garden and Langham Estate a 1.3m Sq ft of property near Oxford Street, argues that Shaftesbury’s non-pre-emptive placing was carried out “with a view to diluting his ownership interest and making any future takeover bid by him more difficult.”

He sent  the FTSE 250 company a letter informing them on a potential £10m lawsuit over the placing which occurred in December 2017. Among his concerns were the board’s failure to provide him with any prior notice of the capital raising despite Mr Lee owning Shaftesbury’s largest shareholding block”.