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Whitebox Advisors Sends Letter to the Board of Directors of LG Corporation
December 14, 2020 GMT
Whitebox Advisors LLC today sent the below letter to LG Corporation’s Board of Directors.
Koo, Kwang Mo
Dear Members of the Board of Directors,
As you are aware, Whitebox Advisors LLC (together with its affiliates, “Whitebox” or “we”) owns a significant stake in LG Corporation (“LG” or the “Company”). We are a long-term shareholder that has repeatedly sought to engage with the Board of Directors (the “Board”) and representatives of the management team in a constructive, private manner over the past two years. It is extremely disappointing that our feedback and viewpoints have been repeatedly dismissed or ignored.
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Whitebox Advisors LLC: Whitebox Advisors Sends Letter to the Board of Directors of LG Corporation
Asserts LG s Recently-Announced Proposed Spin-Off Would Fail to Create Value for Long-Suffering Minority Shareholders
Believes the Board Should Focus on Narrowing LG s Staggering Trading Price Discount, Which is Currently 69% Relative to Net Asset Value
Encourages the Board to Abandon Anti-Shareholder Maneuvers in Favor of Improving LG s Corporate Governance and Implementing the Company s Long-Delayed Capital Management Plan
Whitebox Advisors LLC today sent the below letter to LG Corporation s Board of Directors.
14 December 2020
Koo, Kwang Mo
Dear Members of the Board of Directors,
As you are aware, Whitebox Advisors LLC (together with its affiliates, Whitebox or we ) owns a significant stake in LG Corporation ( LG or the Company ). We are a long-term shareholder that has repeatedly sought to engage with the Board of Directors (the Board ) and representatives of the ma