Hello LKM board,
I know you have been searching for an amicable solution to the issues that face LKM and the board currently. It is quite obvious that you are at an impasse and that this path is not possible.
Time has run out.
The shareholder-led action that I warned you about is now fully underway. I have joined forces with large shareholders in the United States and Asia to initiate the shareholder requisition. In less than 36 hours, we have already collected 85%+ of the required shares to move forward. This WILL happen with or without the support of the board. It will be happening extremely soon.
As former co-CEO and board member, I will personally participate in this action publicly. This will generate significant media and regulator interest and scrutiny in the United States, China and Hong Kong. I can no longer stay silent and allow you all to continue acting against shareholders, employees and partners.
Make no mistake, we will get the remaining shares quickly and we have the votes necessary to enact the changes that we demand, including the removal of all current board members loyal to both Vincent and Henry. We will install an effective board that properly represents shareholder and company interests.
You still have the opportunity to take the proper actions without this action. You have a fiduciary responsibility to act accordingly. I suggest you convene a board meeting immediately, vote and make the necessary disclosures this week.