Activist fund Life Asset Management announced it would welcome a decision by Samsung Electronics to buy back and cancel both common and preferred shares. The fund issued this statement on October 6th. It responds to Samsung's reported internal concerns. Samsung worried the fund's original September proposal, which focused on preferred shares, could discriminate against common shareholders.
The fund clarified its proposal aims to maximize realistically achievable share buybacks and cancellations by Samsung. This public stance maintains pressure on Samsung's board. The board is expected to discuss further shareholder returns later in October. Samsung's current 15 trillion won buyback program is nearly complete.