South Korean retail shareholder platform ACT launched a campaign for an extraordinary shareholders' meeting at Samsung Electronics. ACT seeks to gather the required 3% ownership threshold to compel a meeting to vote on shareholder return policies.
The main proposals include a share buyback program of approximately $32 billion (45.5 trillion won). They also include new rules requiring shareholder approval for upper limits on performance-based bonuses.
Samsung's shares have fallen by over a third since their peak in June. This decline prompts investors to demand more aggressive measures to enhance shareholder value.
The activist campaign also focuses on a recent deal. This deal allocates 10.5% of the chip division's operating profit for employee bonuses. ACT argues the move requires broader shareholder consent.
Samsung has not yet publicly commented on the campaign.