UK-based hedge fund Palliser Capital has submitted a series of shareholder proposals to LG Chem, urging the South Korean chemicals group to take steps to improve governance, increase transparency, and enhance shareholder returns, according to a report by ChosunBiz.
Palliser, which holds more than 1% of LG Chem’s shares on a long-term basis, filed the proposals ahead of the company’s annual general meeting in March. The move follows the fund’s disclosure of its key demands in October last year.
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