Samsung's retail investors seek extra shareholder meeting over buybacks, bonuses

SEOUL, Aug 4 : South Korean retail shareholder platform ACT said on Tuesday it had launched a campaign to call an extraordinary shareholders' meeting at Samsung Electronics, urging the chipmaker to buy back about $32 billion worth of shares and set limits on performance bonuses. ACT said it would begin collecting electronic signatures from shareholders at 5 p.m. local time and seek support from the National Pension Service and domestic and overseas asset managers to meet the 3 per cent ownership threshold required to call the meeting. The move comes after Samsung shares lost over one third of their value since hitting record-highs in June, despite the artificial intelligence boom. The falls were driven by a sharp wave of deleveraging and renewed skepticism regarding the durability of AI in