LONDON (Alliance News) - Real estate investment trust Shaftesbury PLC said on Thursday it has noted press reports about shareholder Samuel Tak Lee, who will vote at the annual general meeting on Friday against the appointment of several senior executives.
In particular, press reports have said that Lee plans to vote against resolutions concerning directors' renumeration and the re-appointment of Chair Jonathan Nicholls, Chief Executive Brian Bickell and Finance Director Chris Ward.
Shaftesbury confirmed it has received no direct communication from Lee, who holds a 26% stake in the company, aside from a statement on his voting intentions at the end of January.
Back then, Lee said he planned on voting against resolutions to grant the board authority to allot shares, and to allow it in some circumstances to do so on a non-preemptive basis.
Lee also did so in Shaftesbury 2018 AGM. In that meeting, 70% of shareholders backed the resolutions.
Lee has stated a placing carried out in 2017 by Shaftesbury was "motivated by a desire to dilute his interest". At the time, he held a 17% stake.
"The board continues to consider that all of the resolutions to be proposed at the AGM are in the best interests of the company and its shareholders as a whole and they unanimously recommend that shareholders vote in favour of them," Shaftesbury said in a statement.
Shares in Shaftesbury closed down 0.1% at 883.00 pence on Thursday.