Leading UK boiler manufacturer, Worcester Bosch, has launched a new initiative to support installers and homeowners for work undertaken in the home. The ‘Safe in your Home Installer Commitment’ is a pledge for installers to sign-up for, enabling them to receive a pack of digital and physical tools to help
As the technology grows, you can easily find a lot of different applications to communicate with the people outside you. Some of them are meant to help you sending text to your friends. Some others are meant for the video calling needs. Meanwhile, the others are meant to help you
Technology reaches a tipping point in this time of crisis, explains Roy Danon, CEO and Co-Founder of Buildots, which is revolutionising construction management through the use of artificial intelligence The Covid-19 pandemic has brought remote-working into sharp focus – and demonstrated clearly how when it comes to construction management, the
The new Sewers Code for Adoption guidance is the most significant change to below ground drainage practice in a generation, providing groundwork contractors and specialists with an opportunity to turn to a wider range of drainage products and systems, according to Polypipe Building Products. The Sewers Code for Adoption guidance
The British Safety Council has announced the individuals, teams, initiatives and organisations who have won awards as part of the 2020 International Safety Awards Scheme (ISAs). These awards recognise and celebrate outstanding achievements around the world amongst those who have made exceptional efforts to ensure peoples’ health, safety and wellbeing.
Leading independent construction, property and management consultancy, Rider Levett Bucknall UK has announced a restructure of its healthcare sector headed up by Partner, Stewart Binns as National Lead. Taking the role alongside his existing position as head of Project Management in Yorkshire and Humber, Binns will lead the sector that
Construction has started on the £3.9m renovation of King Edward VI School in Lichfield, with works being led by Midlands contractor G F Tomlinson for Staffordshire County Council under the Staffordshire Construction framework. This is the second contract secured by G F Tomlinson through the Staffordshire Construction framework for Staffordshire
Specialist supplier AEI Cables has welcomed the move by the Government to ensure sprinkler systems are mandatory in all new high-rise blocks over 11 metres tall when they come into force. The government announced an amendment to the statutory guidance to building safety regulations, known as Approved Document B, reducing
Mike Brown heads Bellharbour as Director of Property Management. Mike has worked in the Property Management sector for 33 years and in residential management for the last 22, specialising in managing luxury residential buildings and large mixed-use estates. He brings extensive experience both as a managing agent and on the client
UK property manager Capco has come in for a 26 per cent stake in London-focused property firm Shaftesbury for £436m. Capco has bought the stake from a trust set up by Hong Kong tycoon Samuel Tak Lee for 540p per share, representing a discount of 13.9 per cent to the
Leading UK boiler manufacturer, Worcester Bosch, has launched a new initiative to support installers and homeowners for work undertaken in the home. The ‘Safe in your Home Installer Commitment’ is a pledge for installers to sign-up for, enabling them to receive a pack of digital and physical tools to help them undertake work in customers’ homes safely and securely. The Commitment intends to do two things: Give installers clarity on the correct social distancing and hygiene guidelines they need to be following when entering customers’ homes Give customers reassurance that any visiting installer who signs up to the commitment will have the knowledge and tools to take the right precautionary measures Every installer who signs up to the Safe in your Home Installer Commitment receives a digital pack of assets, with the first 5,000 also being sent a physical package of free goods. This consists of: Digital stamp for use on social pages and website, a clear indicator to show they have signed up to the initiative An email checklist for customers and installer to fill out pre-visit Guidance documents for installers and homeowners, an essential reminder of the precautions to follow Email footers, to work as a signature in customer comms Removable van vinyl of the Installer Commitment logo [First 5,000 only] ‘Installer at work’ sign, showing the precautionary measures being taken [First 5,000 only], to be displayed in company vehicles during call outs The new tools have been designed by Worcester Bosch to help installers, who carry out work in people’s homes, demonstrate that safety is the main focus for any boiler installation and home heating maintenance, particularly during these uncertain times. Victoria Billings, Director of Marketing at Worcester Bosch said; “As the UK Government starts to ease its lockdown measures, industries like ours are beginning to return to work. With this comes a constant need to adapt to the ever-changing climate. “We feel it is important to support installers at this time, enabling them to reassure customers about how they are safe working in their homes. This initiative intends to do just that and ensure that homeowners and installers are reassured and clear regarding safety considerations for an at-home visit, with a variety of digital and physical reminders putting safety front and centre of every visit.” Installers can pledge to be a part of the commitment here.
As the technology grows, you can easily find a lot of different applications to communicate with the people outside you. Some of them are meant to help you sending text to your friends. Some others are meant for the video calling needs. Meanwhile, the others are meant to help you doing the online conference with your colleagues. However, what if you can find all of those features in one business phone system? Is not that will be one of the most revolutionary thing that you can get on this modern time? If you are also thinking about the same thing, you can try Nextiva. It is not only an application. Nextiva is a communication system that offers you a lot of amazing features such as follows. The first one is the standard calling function with the improved features. Calling is not only about the sound if you are using Nextiva. Calling is also about having a nice and clear video display. You can do the standard call or the video call based on what you need. Of course you can also text another person out there with no limitation at all. As an addition, you will not need to worry about the toll fee once you use Nextiva. There is nothing like that if you and the other person that you want to call is on the same Nextiva network. The second one is the great mobility function. Some people will say that Nextiva is an application. The reason is because they can download and install it on their smartphone. Yet, the real form of Nextiva is the system that will connect all of its users through many different platforms. It does not matter if you want to contact your friends who are using Android devices through your laptop. You can easily do that since you can find Nextiva in Android, iOS, Mac, and Windows. The third one is the conferencing function. Almost all of the communication applications out there do not let you to have the conference video call or even conference call. Even if you are able to do that, those applications will limit the number of participants to a small number. For some people, that is enough. However, if you want to call your colleagues, you need something better. That is why Nextiva is the answer. You do not need any other application to do the conference call. You can do that with a lot of people around the world with Nextiva. The last but not least is the perfect collaboration feature. The collaboration feature lets you make groups inside the Nextiva. As an addition to that, the collaboration feature helps you to do more things in its simplest ways. That is why more and more people are using Nextiva nowadays. Considering the fact that technologies are developing at the fast pace, you can say that this communication system will be something big in the near future. So, if you can try this new communication system starting from now on, why should you wait much longer?
Technology reaches a tipping point in this time of crisis, explains Roy Danon, CEO and Co-Founder of Buildots, which is revolutionising construction management through the use of artificial intelligence The Covid-19 pandemic has brought remote-working into sharp focus – and demonstrated clearly how when it comes to construction management, the latest technology can not only make it possible for many to work from home, but simple and efficient as well. Until recently, the industry has lacked the technological solutions it has needed to evolve in the same way as, for example, publishing or finance. However, the unique use of wearable technology by the Buildots platform, combined with the need to keep as many people as possible working from home to beat the virus, is helping to kick-start a technological revolution that will produce measurable benefits long after the present difficult circumstances are a memory. The Buildots system works using 360-degree hardhat-mounted cameras that capture images of the construction site during routine site-walks. The same principle of AI-driven visual capture is well established in manufacturing environments, where a dedicated machine vision camera is deployed at fixed inspection points along a production line to continuously capture high-resolution imagery for defect detection, dimensional verification, and process monitoring. The same principle of AI-driven visual capture is well established in manufacturing environments, where a dedicated machine vision camera is deployed at fixed inspection points along a production line to continuously capture high-resolution imagery for defect detection, dimensional verification, and process monitoring. These are overlaid with the 3D model and analysed by artificial intelligence (AI) to provide continuously updated, accurate information about progress. Before the pandemic, this information was being used to improve efficiency and accuracy on site – but as we are entering the “new normal”, the need to maintain social distancing means that the fewer unnecessary site visits the better. By using Buildots, not all members of the management team need to be on site themselves, constantly checking on the build – they can let AI do it for them, in a far more efficient and thorough way than a single, hurried walk across site could possibly achieve. The information gathered by Buildots enables accurate predictions about when materials need to be delivered, cutting down delivery waiting time on site, as well as giving all the evidence to allow commercial teams to approve payments to subcontractors in minutes, helping avoid delays in a time of financial uncertainty. It can help planners to monitor construction from afar, and builds up a detailed profile of the building for maintenance use after hand-over. In the short term, using Buildots to limit the number of people visiting a site is a measure that will keep people safer; but in the longer term it is another, very welcome, step towards the 21st century concept of a connected jobsite, where wearable sensors, AI and big data all work together to revolutionise construction and turn it into a truly digitised environment. In fact, we are likely to look back on these days and see a tipping point in the use of technology. Just as business people the world over have found that the epidemic has helped them to understand that face-to-face meetings can be accomplished without jet lag and a massive carbon footprint, construction too will realise that technology is not just something new and tricky that takes too long to master and delivers little benefit – it can truly be a real game-changer for solving the pain points in the industry.
The new Sewers Code for Adoption guidance is the most significant change to below ground drainage practice in a generation, providing groundwork contractors and specialists with an opportunity to turn to a wider range of drainage products and systems, according to Polypipe Building Products. The Sewers Code for Adoption guidance includes a national standardised set of delivery procedures that all water companies in England are working to and a Design and Construction Guidance document that will affect the installation of sustainable drainage systems (SuDS) and below ground drainage systems on all sites. As of April, it provides contractors with greater flexibility to work with new materials, water management systems and the latest technology. According to Richard Eddy, Product Manager, Below Ground Drainage, Polypipe Building Products, groundwork specialists have an opportunity to increase their range of skills and services: “The main focus of the new Sewers Code for Adoption is aimed at increasing the use of hard and soft SuDS at the outset of a development, in response to the rising rainfall in the country, and the recognition that distributing surplus water directly into sewers is unsustainable. “By placing water management and the control of surface water runoff as an integral part of the design process the new Sewers Code for Adoption offers an opportunity for groundworkers to offer engineering expertise on the overall management of water on a development site from waste water generated by housing units to surface water from rainfall and natural sources.” Polypipe has an extensive product portfolio of below ground drainage pipes including the UK’s largest range of sewer pipes, fittings and chambers for commercial and residential projects. The pipes are available in diameters from 110mm up to 3,000mm and make installation faster due to the flexibility, strength and easy handling properties. Polypipe has also been a pioneer in the development of sustainable drainage systems, with geocellular systems such as Polystorm and Permavoid designed to provide housing developers with water storage and attenuation solutions to keep developments safe from localised flooding and to sustainably manage surface water runoff, without increasing the burden on natural water courses and rivers. Richard Eddy added: “The changes will be most significant to contractors based in the South East where a number of different requirements have been streamlined into one document and one standard set of agreed practices across the water companies. “As the manufacturer of the most extensive range of plastic-based below ground drainage pipes, fittings and chambers, as well as significant technical expertise in the design, development and delivery of high specification SuDS systems, Polypipe is best placed to advise contractors on how they can work with the growing range of drainage systems and materials now at their disposal. Our below ground drainage technical experts are available to offer consultation and guidance on any project.”
The British Safety Council has announced the individuals, teams, initiatives and organisations who have won awards as part of the 2020 International Safety Awards Scheme (ISAs). These awards recognise and celebrate outstanding achievements around the world amongst those who have made exceptional efforts to ensure peoples’ health, safety and wellbeing. The Young Health and Safety Champion of the Year awards recognises the exceptional contribution of individuals aged 16-24 in ensuring the health, safety and wellbeing of their colleagues and others. The winner this year is: Shewale Aniket Prabhakar, EHS engineer, PVVNL IDPS Additional RMU PKG, Ghaziabad, India (winner) The Wellbeing Initiative Award recognises organisations that can demonstrate a proactive and effective approach to improving employee wellbeing. This must be through a new or unique objective with a clear and measurable outcome, over and above the organisation’s routine work. The award is sponsored by Vitality Healthy Workplace, which provides a variety of services to help businesses to build a healthier, more engaged and productive workforce. The winner this year is: Ashgal ‘Health and Wellness Campaign’, India The Health and Safety Transformation Award recognises organisations that have changed or transformed any aspect of health, safety or wellbeing to a significant extent through the use of information. Applicants were required to describe the transformation, how it was used and its positive impact. The award is sponsored by Croner-i, one of the leading providers of information and guidance for businesses in fields such as health and safety, the environment and human resources. The winner this year is: Chr.Hansen New for 2020, the CEO Award recognises the leadership and strategic vision of a CEO who has made a vital contribution to the health and safety of their business and to wider society in 2019. The winner this year is: Matt Brabin, ISS, UK For the second year running the Team of Year Award recognises outstanding achievements resulting in a significant improvement to health, safety or wellbeing, from a collaboration of stakeholders. The winner this year is: ASHGHAL-DW002-P03 Roads and Infrastructure in West Muaither (Al Manasser) Package 3 New for 2020, the James Tye Award honours the founder of the British Safety Council. James campaigned tirelessly to improve the health, safety and welfare of people at work. He founded the British Safety Council in 1957 and continued to support it until he died in 1996. The winner this year is: Transport Corporation of India Ltd. (TCIL) Sector winners Construction and property – Gas Call Services Ltd Education – ISS Education, Working in partnership with University of the West of Scotland Eco-Campus Healthcare – Sodexo Healthcare at Manchester University NHS Foundation Trust – Oxford Road Campus Hospitality – Arsenal Football Club Local government – FCC Environment – Wychavon Collections Contract Manufacturing – (joint winners) Advanced Proteins / Flexitallic UK Ltd – Cleckheaton Not for profit – Plymouth Community Homes Oil and gas – SP Armada Oil Exploration Pvt. Ltd.- Armada Sterling II Onshore – GardaWorld Security Services. Middle East & Africa Power and utility – ENKA İnşaat ve Sanayi A.Ş – Nizhnekamsk 495 MW Combined Cycle Power Plant Project Transport – Unipart Logistics Country/regional winners China – China Construction Engineering (Macau) Co. Ltd. – Macau LRT C385R (LRT Depot) India – SP Armada Oil Exploration Pvt. Ltd.- Armada Sterling II Jordan – Indo-Jordan Chemicals Co Ltd Kuwait – Kuwait National Petroleum Company – Head Office Pakistan – (joint winners) Engro Fertilizers Daharki Fatima Fertilizer Company Limited – Plant Site, Sadiqabad Qatar – Urbacon Trading & Contracting – Qatar Saudi Arabia – Sadara Chemical Company. Packaging Center – MdR Operations Sri Lanka – China State Construction Engineering Corporation Ltd-Construction of proposed ODEL Mall & Department Store – Colombo 07 Turkey – ENKA Insaat ve Sanayi – Nizhnekamsk 495 MW Combined Cycle Power Plant Project UAE – (joint winners) Dubai Multi Commodities Centre China State Construction Engineering Corporation (Middle East) (L.L.C), R 1013/2D Improvement of Al Shindagha Corridor Phase 2 D ProjectSouth America – Planta San Miguel, Cementos Progreso UK/Ireland – Unipart Logistics Africa – Indorama Eleme Petrochemicals Limited – Port Harcourt, Nigeria Southeast Asia (other) – Ed. Züblin AG, Singapore Branch Announcing the winners Mike Robinson, Chief Executive of the British Safety Council said: “My warmest congratulations to all of the individuals, teams and organisations that have won awards within our prestigious International Safety Awards scheme. “The winners have made huge efforts to protect and enhance the health, safety and wellbeing of everyone in their organisations. All the winners and those who were shortlisted went the extra mile by dedicating additional time, resources and commitment to ensuring that their work, teams and workplaces remained healthy and safe during the previous year.” He went on to say: “I would also like to say thank you to all of the organisations who took time to apply for these awards and to our panel of judges who volunteered to adjudicate them.” He concluded his remarks: “The British Safety Council’s vision is that no-one should be injured or made ill through their work, anywhere in the world. By publicising the achievements of the winners of these awards, we can encourage other employers everywhere to follow their lead and give workers’ health, safety and wellbeing the priority it rightly deserves.” Due to the ongoing coronavirus outbreak the British Safety Council took the difficult decision to cancel the 2020 International Safety Awards Gala Dinner. The winners will receive their trophies and certificates by courier at the earliest opportunity.
Leading independent construction, property and management consultancy, Rider Levett Bucknall UK has announced a restructure of its healthcare sector headed up by Partner, Stewart Binns as National Lead. Taking the role alongside his existing position as head of Project Management in Yorkshire and Humber, Binns will lead the sector that has been realigned into three key workstreams, with new leads appointed from within the business to manage each workstream: Capital programmes – James Costello Estate strategy and masterplanning – Adam Hurst Six Facet Surveys – Brook Smith The workstreams align with core healthcare sub-sectors Acute, Primary and Mental Health and are central to RLB’s national healthcare plan and strategy. Binns, who joined RLB in 2018 after heading up the health division at Turner and Townsend, commented, “Healthcare is a sector that has shown strong growth at RLB. It has therefore made sense to pause at this point and realign our structure and teams to ensure that we have the right expertise in the right place to be able to service our clients now and in the future.” “Healthcare continues to be one of our central areas of growth as a business,” continues Andrew Reynolds, Chief Executive of RLB UK. “If the last few months have shown us anything it is how crucial healthcare provision is to all our lives and ensuring that we have healthcare estates that are maintained, adapted and agile will continue to be of national importance. We believe our new structure will support the drive for best practice and to deliver the best outcomes within the sector.”
Construction has started on the £3.9m renovation of King Edward VI School in Lichfield, with works being led by Midlands contractor G F Tomlinson for Staffordshire County Council under the Staffordshire Construction framework. This is the second contract secured by G F Tomlinson through the Staffordshire Construction framework for Staffordshire County Council, led by Entrust Property Services – the first being the £5.2m Poppyfields Primary School in Cannock, which was successfully completed last summer within a major housing development in the area. The project involves the design and build of an extension to an existing building and the construction of a new modular building to provide much needed replacement teaching and auxiliary spaces at King Edward VI School. Building on a winning partnership from the successful delivery of the Poppyfields Primary school, G F Tomlinson again appointed Arc Partnership to provide architectural and engineering services for the scheme. Phase one of works at the Lichfield co-educational comprehensive for pupils aged 11 to 18, involves the construction of a new three-storey extension on the site of a former swimming pool, which had been closed for over ten years and was demolished as part of preliminary site-wide enabling works by ENTRUST prior to commencement. The extension will provide replacement teaching and auxiliary spaces, as well as an administration area on the lower ground floor, which will be the location of the school’s new student services area. Completion for this phase is expected in spring 2021. Phase two involves the demolition of existing accommodation and obsolete prefabricated buildings, to be replaced with the construction of a brand new standalone modular structure, providing modern and enhanced science laboratory teaching facilities at the school. Ideal Modular, part of G F Tomlinson’s existing supply chain, has been appointed to deliver the modular element of this project. Works for phase two are expected to be completed in winter 2020. During the course of the construction works, G F Tomlinson is looking to engage with both staff and students of the school. The site management team will perform virtual live site tours for the school to report project progress and allow them to raise any queries they have. Once government guidelines allow it, the contractor also plans to carry out regular site tours and school assemblies, as well as communicating the project’s progress through meetings with the school. Regular newsletters will also be distributed to the school and local residents. Chris Flint, director of G F Tomlinson, said: “We are pleased to be able to commence construction works for our client Staffordshire County Council, particularly in the current climate. The works will maximise space and upgrade the existing buildings at King Edward VI School. These important renovations will optimise teaching spaces and improve the overall educational experience for students and staff. “It has been rewarding to engage with Entrust Property Services again and we look forward to working for them and Staffordshire County Council to deliver this project, whilst continuing to build strong relationships with Arc Partnership and our other local supply chain partners over the course of both phases.” County Councillor Philip White, cabinet member for learning and skills said: “These works are being completed to ensure the site can accommodate an increased demand for pupil places at the school, as a result of new housing in and around the city. Once finished, the work will enable the school to expand by 150 pupils. “We have been planning for this for a while, and construction is taking place over the course of a year to minimise disruption as much as possible. I’m sure pupils and teachers will enjoy using the brand-new accommodation in September 2021.” John Doherty, CEO of Entrust Support Services, said: “We are proud to see works commence at King Edward VI School following ENTRUST’s master planning of a multifaceted brief across a split campus. This is a complex project which we are proudly project managing with our preferred contractor and we look forward to working with G F Tomlinson, Staffordshire County Council and the school to complete it. Once finished, these new teaching spaces will benefit the school and its pupils well into the future.” Jane Rutherford, headteacher at King Edward School said “With additional students joining us each year, this project will provide all our students and staff with access to improved facilities. We are looking forward to seeing the project completed during the coming academic year”. Staffordshire County Council is leading the project, with project management from ENTRUST, G F Tomlinson acting as main contractors, and Arc partnership acting as architect and structural engineer.
Specialist supplier AEI Cables has welcomed the move by the Government to ensure sprinkler systems are mandatory in all new high-rise blocks over 11 metres tall when they come into force. The government announced an amendment to the statutory guidance to building safety regulations, known as Approved Document B, reducing the requirement for sprinkler systems from the current 30 metres to 11 metres. Stuart Dover, general manager of AEI Cables, said: “We believe sprinkler systems at this level will make a real difference to the safety of lives and property – as long as provision is made for the installation of approved cabling for these purposes. “We look forward to working with the industry to make sure this can work in practice.” The Fire Safety Bill, which was introduced to Parliament in April, will also empower fire and rescue services to take enforcement action and hold building owners to account if they do not comply with the law. The Institution of Fire Prevention Officers (IFPO) is supporting the call by AEI Cables to ensure that reliable continuous power is provided for sprinkler systems. The tried and tested generation of AEI Cables’ fire performance cabling ensure critical fire-safety circuits can continue to operate in the event of a fire from 30 minutes up to 120 minutes and often support systems which provide intelligence for the fire and rescue services. AEI Cables’ Firetec Enhanced cabling is the only cable to be independently approved and certified by LPCB to BS8519 (Annex B) Category 3 Control for firefighting systems including sprinkler pumps, fire suppression water mist systems, water spray systems, wet riser pumps, wet riser valve and equipment monitoring under the Code of Practice. All AEI Cables’ products are supplied with approvals from independent bodies including BASEC and LPCB. It also holds approvals from organisations including Lloyds, the MoD, Network Rail and LUL and works to international standards around the world.
Mike Brown heads Bellharbour as Director of Property Management. Mike has worked in the Property Management sector for 33 years and in residential management for the last 22, specialising in managing luxury residential buildings and large mixed-use estates. He brings extensive experience both as a managing agent and on the client side, dealing with everything from small RMCs to large developers. Bellharbour was created out of an identified need to meet specific requirements to high-end developments within the property sector. By bringing together some of the UK’s elite property sector specialists, the company provides over 55 years of combined experience in management of the prime sector. The aim is to provide a truly high-end bespoke service to clients: Lower ratio of development staff to properties than our competitors Maintaining higher standards of presentation of your property More in-depth knowledge of prime developments Strong management training of any staff hired to work onsite An extensive suite of supporting services from the companies within the group Bellharbour expects to grow quickly, with a number of clients already on board even before launch, and some preparing to switch. The central location is ideal for attracting high-end developers in and around Canary Wharf, as well as for recruiting the best talent in the industry. About the Fexco Property Services group Bellharbour is a trading company of Crabtree PM Limited, and part of the Fexco Property Services group, founded in 2015 by the Irish multi-national company Fexco to provide nationally focused management and professional services to the built environment. The group currently consists of Bellharbour, Crabtree PM Limited, Remus Management and Ellis Sloane & Co. Backed by Fexco which has been investing in the UK since 1983 and involved in block management since 1999, successfully growing the largest residential management group in Australia; Prudential Investment Company of Australia Pty Limited (PICA) who currently have 280,000 homes under their management. Together the combined experience of the group amounts to the largest service provider in the UK.
UK property manager Capco has come in for a 26 per cent stake in London-focused property firm Shaftesbury for £436m. Capco has bought the stake from a trust set up by Hong Kong tycoon Samuel Tak Lee for 540p per share, representing a discount of 13.9 per cent to the closing Shaftesbury share price on 29 May. Ian Hawksworth, chief executive of Capco, said: “As long-term investors in the Covent Garden estate and the West End, the investment in Shaftesbury represents a unique opportunity to deploy our capital in an exceptional portfolio at an attractive entry price, which we believe will generate long-term value for Capco shareholders. “Capco’s world-class estate, strong balance sheet and significant financial flexibility ensure that the company is well positioned. Whilst we can expect continued market uncertainty in the near term, we are confident about the long-term fundamentals and prospects for the West End and prime central London.” Shaftesbury said it “looks forward to engaging with Capco as it would with any other shareholder in the company”. Capco said it believed the deal was attractively valued, “with an implied price of approximately £1,200 per square foot and a yield of 3.3 per cent based on Shaftesbury’s 2019 total dividend of 17.7p per share”. Capco said it was funding the investment through the £705m Covent Garden revolving credit facility, of which £255m remains available for drawdown. In the light of the deal, Capco said it has decided not to complete the return of £100m to shareholders through the share buyback programme announced earlier this year, under which £12m had been returned to shareholders prior to being suspended in March 2020. Tak Lee has repeatedly clashed with Shaftesbury’s management after feeling he was left in the dark over a 2017 share placing. Today Shaftesbury said Tak Lee has withdrawn legal proceedings against the company related to the 2017 fundraising. In January Tak Lee voted against resolutions to reappoint some of the company’s key management figures including chief executive Brian Bickell, finance director Chris Ward and chairman Jonathan Nicholls. Rothschild & Co is acting as lead financial adviser and sponsor to Capco on the transaction, BofA Securities is acting as financial adviser and Herbert Smith Freehills is acting as legal adviser. Capco shares rose 1.5 per cent to 166p and Shaftesbury shares fell 1.5 per cent to 617p.