StockMarketWire.com - London West End focused property investor Shaftesbury said it had been served with legal proceedings from companies controlled by Samuel Tak Lee regarding a share placing it conducted in 2017.

The proceedings sought to challenge both the rationale for the placing and the way in which the shares were allocated, the company said.

The claimants were seeking damages for their alleged losses in the region of £10.4m.

'The board considers the claims to have no merit and intends to defend the allegations robustly,' Shaftesbury said.



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