Act, a minority shareholder platform, has demanded that Samsung Electronics buy back and cancel at least 45.5 trillion won of its own shares. The argument is that the company's promised standard of returning 50% of free cash flow to shareholders should be executed through share buybacks rather than dividends, and Act plans to gather shareholder signatures and formally submit them to the board.
Act said on the 3rd that it would send a shareholder letter stating that Samsung Electronics should put the entire 45.5 trillion won into share buybacks and cancellation in line with the 50% free cash flow return standard. Act explained that it began collecting joint signatures from that morning, and that in an earlier platform vote it confirmed 100.0% approval on a share-count basis, totaling 132,836 shares.
Act believes Samsung Electronics' shareholder return policy is not enough to restore market trust. Act argued that "the 50% of free cash flow the company promised should be executed immediately through buybacks rather than dividends", and that "furthermore, the standard needs to be raised to 100% as at Micron and Kioxia".
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Act said that, in consultation with Samsung Electronics, mailing to the shareholder register as of the end of the second quarter has been confirmed. Over the coming week it will carry out further fundraising and electronic signatures, and plans to exercise shareholder rights, such as convening an extraordinary general meeting, over key issues including share buybacks and operating-profit-linked performance pay.
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It seems they are pushing this by gathering shareholders' signatures themselves
I am not sure whether it will work out either.
Looking it up, Act is that kind of place
In stocks, Act (ACT) refers to a platform where individual investors gather to change a company's decisions and reclaim their rights,a minority shareholder activism platform. It is a place where, after shareholder verification, people gather to make shareholder proposals to the company or to collect electronic proxies
▶ Original source: https://news.nate.com/view/20260803n16690?mid=n0304
