Statement re press coverage ahead of AGM on 8.2.19

Shaftesbury PLC (the "Company")

Statement regarding press coverage ahead of the AGM on 8 February 2019

The Board of Shaftesbury has today seen press coverage indicating that Mr Samuel Tak Lee (who has a beneficial interest of approximately 26% in the issued share capital of the Company) intends to vote against resolutions dealing with directors' remuneration and the re-appointment of the Chief Executive, Finance Director and Chairman at the AGM tomorrow. It also repeats his views on the Company's share placing in December 2017. 

The Company has fully addressed Mr Lee's questions about the December 2017 placing in extensive previous correspondence. The Board acted entirely properly in undertaking the placing, which was conducted in accordance with authorities provided by shareholders to the Directors at the 2017 AGM and in compliance with all legal requirements. 

The Board confirms that it has received no direct communication from Mr Lee in relation to his voting intentions at the forthcoming AGM other than the statement circulated to shareholders on 29 January 2019. That statement indicated his intention to vote against three resolutions which, if passed, would give the Directors the authority to allot shares, and to enable them, in certain circumstances, to do so on a non pre-emptive basis.

The Board has always adopted, and will continue to adopt, the highest standards of corporate governance and takes its fiduciary duty to act in the best interests of all shareholders very seriously. 

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.

7 February 2019

For further information:

Shaftesbury PLC LEI: 213800N7LHKFNTDKAT98

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