The largest shareholder of property developer Shaftesbury has escalated a dispute with the company’s board, pledging to vote against its directors at this week’s AGM. The largest shareholder of property developer Shaftesbury has escalated a dispute with the company’s board, pledging to vote against its directors at this week’s AGM. Mr Lee has already made public his intention to vote against resolutions which would allow the issuing of new shares, arguing that a previous fundraising damaged shareholder value. The board has caused significant damage to shareholder value Samuel Tak Lee “The board has caused significant damage to shareholder value” https://www.independent.ie/world-news/shaftesburys-biggest-shareholder-vows-to-vote-against-board-37792121.html “The board has caused significant damage to shareholder value” https://www.independent.ie/world-news/shaftesburys-biggest-shareholder-vows-to-vote-against-board-37792121.htmlMr Lee, a notable London landlord whose properties include the historic Langham Estate, has claimed the capital raising was not in the interests of the company. In doing so, the board has caused significant damage to shareholder value.”Mr Lee has urged fellow shareholders to join him in opposing the resolutions, but investor groups have already backed the board ahead of Friday’s meeting.

Source: Irish Independent February 07, 2019 10:45 UTC