Retail investors demand an extraordinary meeting to approve a $31.79 billion share buyback and cap executive bonuses.
A South Korean retail shareholder group launched a campaign to convene an extraordinary shareholders’ meeting at Samsung Electronics, proposing a $32 billion share buyback. The move follows a 33% decline in Samsung shares since June, despite the AI-driven market rally, driven by deleveraging and doubts over AI spending sustainability.
The group, ACT, will collect electronic signatures to secure the 3% ownership threshold required for the meeting. It seeks support from the National Pension Service and asset managers. The proposed buyback amounts to 45.5 trillion won ($31.79 billion), with a second proposal aiming to limit performance bonuses tied to operating profit.
Retail investors argue the campaign addresses corporate governance, questioning ownership and shareholder rights. Samsung has not yet responded to the proposals.