Whitebox Advisors Sends Letter to Samsung C&T Corporation’s Board of Directors Regarding Immediate Opportunities to Enhance Shareholder Value
Retrieved on:
Wednesday, December 13, 2023
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We are a long-term shareholder that has repeatedly sought to engage with SCT’s Board of Directors (the “Board”) and representatives of the management team in a constructive, private manner since 2017.
Key Points:
- We are a long-term shareholder that has repeatedly sought to engage with SCT’s Board of Directors (the “Board”) and representatives of the management team in a constructive, private manner since 2017.
- SCT includes treasury share cancellation as part of its Shareholder Return Policy, but we would not characterise this as a shareholder return.
- The Company has destroyed shareholder value, with a track record of decision making that appears to ignore the interests of its minority shareholders.
- If the Board does not meaningfully engage with us on our recommendations to enhance shareholder value at SCT, we intend to share our views with our fellow shareholders in due course.