The Investor Group of local and foreign shareholders includes City of London Investment Management, Whitebox Advisors and other long-term investors.
The Group collectively owns more than 1% of Samsung C&T's outstanding common shares. Each member of the Group initially invested in Samsung C&T because of its exceptionally valuable portfolio of assets that include strategic stakes in key Samsung group affiliates and diverse business operations.
Over the years, each member has sought to engage privately with Samsung C&T’s Board of Directors (the “Board”) and representatives of the management team in a constructive manner to address its long-term share price underperformance and persistent discount to the value of its underlying assets. CLIM and Whitebox, in particular, have engaged with Samsung C&T since their respective initial investments in 2017. However, suggestions have repeatedly been disregarded, even in the face of growing shareholder concern.
CLIM is a UK headquartered asset management firm, established in 1991. CLIM is a long-term investor in global markets via closed-end funds and other securities using a value based approach exploiting anomalies between price and intrinsic value. CLIM has a strong focus on corporate governance and regularly engages with portfolio companies to enhance shareholder value.
Whitebox Advisors LLC is a multi-strategy alternative asset manager that seeks to generate optimal risk-adjusted returns for a diversified base of public institutions, private entities and qualified individuals. Founded in 1999, Whitebox invests across asset classes, geographies, and markets through the hedge fund vehicles and institutional accounts we advise. The firm maintains offices in Minneapolis, Austin, New York, London and Sydney.
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Effective Date: January 26, 2024
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