|Bid||812.00 x 0|
|Ask||0.00 x 0|
|Day's Range||813.50 - 823.00|
|52 Week Range||798.00 - 937.00|
|Beta (3Y Monthly)||0.46|
|PE Ratio (TTM)||27.93|
|Earnings Date||Nov 26, 2018 - Nov 30, 2018|
|Forward Dividend & Yield||0.17 (2.10%)|
|1y Target Est||956.54|
Shaftesbury’s largest shareholder, Hong Kong billionaire Samuel Tak Lee, has served the Chinatown landlord with a writ for £10 million following a long-running dispute. Property tycoon Lee, a 26% shareholder, has locked horns with the firm since December 2017 when it embarked on a £265 million fundraising to boost its portfolio. Lee, who owns the sprawling neighbouring Langham Estate, claimed his Shaftesbury stake had been diluted by the move.
Brian Bickell, the long-standing boss of Shaftesbury, on Friday cheered good trading at the West End property firm as he looked set to survive a rebel shareholder’s bid to oust him. The 65-year-old faced a tense annual meeting today, 24 hours after Hong Kong billionaire Samuel Tak Lee, the largest shareholder in Shaftesbury, said he would oppose the remuneration and reappointment of Shaftesbury’s chairman, chief executive and finance chief. Mike Fox, head of sustainable investments at Royal London Asset Management, a 1.5% shareholder, said his firm was voting to support management.
Sammy Tak Lee is one of those secretive billionaire “citizens of nowhere” who so annoy the British electorate that Theresa May chose to demonise them in one of her forays into populism. For years, he has been pestering the well-run owner of much of Covent Garden, Chinatown and Soho, Shaftesbury. Conservatively financed and managed for the long term, Shaftesbury has delivered consistently for its investors since the financial crisis.
West End landlord Shaftesbury’s largest shareholder, Hong Kong billionaire Samuel Tak Lee, reignited his feud with the property firm on Tuesday in an audacious bid to curb the board’s power. In a letter published by the Chinatown and Carnaby Street property owner, 26% shareholder Lee slammed directors for being “reluctant” to engage with him, and expressed concerns about delays at a new development. Brian Bickell, chief executive of Shaftesbury, hit back at Lee, saying he has not met the board despite numerous invitations.