On February 1, 2024, City of London Investment Management Company Limited, ANDA Asset Management Co., Ltd, Whitebox Advisors LLC, and other long-term shareholders are announced that they have sent a letter to Samsung C&T Corporation, stating that proposed 2 shareholder proposals regarding 1) increased dividend distribution, 2) share repurchase program, at the 2024 annual meeting of shareholders of the Company. In addition, City of London Investment Management Company stated that in order to realize Company?s value for all shareholders, it believes that the board must adopt a transparent, shareholder-friendly capital allocation framework that systematically considers the returns on different uses of capital, including growth investments and share repurchases. Further, City of London Investment Management stated that it will issue a presentation detailing its vision to improve shareholder returns and enhance corporate governance at the Company.