Mark Kay, who owns about 12% of the company's shares, starts legal proceedings, claiming he is owed more than £5m in bonuses.

ROK Property Solutions’ biggest shareholder, Mark Kay, has started legal proceedings against the company, claiming that he is owed more than £5m in bonuses.

Rok received a writ from Kay’s lawyers, City firm Herbert Smith, on Friday night. Kay still owns about 12% of the quoted company’s shares but resigned as a director of the company in September last year.

In a statement to the stock exchange, Rok said: “The company disputes Mr Kay’s claim and the board will vigorously contest these legal proceedings.”

Kay is suing for £5.025m of bonuses, which he claims he is owed for 2002 and 2003.