LG Display Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on February 18, 2022, reports on a resolution by the Board of Directors of LG Display Co., Ltd. (NYSE: LPL) dated February 17, 2022. The filing announces the convening of the 37th Annual General Meeting of Shareholders for the fiscal year ended December 31, 2021.
Financial Metrics
The filing text does not provide specific financial values for revenue, profit, cash flow, margins, debt, or liquidity. The document serves as a notice of the upcoming shareholder meeting where the Consolidated and Separate Financial Statements for fiscal year 2021 will be presented for approval.
Material Changes and Corporate Actions
The primary material event is the Board's approval to hold the Annual General Meeting on March 23, 2022. Key agenda items for shareholder approval include:
- Consolidated and Separate Financial Statements for the fiscal year ended December 31, 2021.
- Amendment to Articles of Incorporation.
- Appointment of Directors and Audit Committee Members.
- Remuneration limits for Directors in 2022.
Management Commentary and Governance
The Board approved the appointment and reappointment of five directors to serve three-year terms (with one serving a two-year term). The new and reappointed directors bring expertise in finance, law, economics, and display technology:
- Beom Jong Ha: Newly appointed Non-standing Director with extensive finance and accounting experience at LG Corp.
- Sung Hyun Kim: Newly appointed Inside Director and current CFO of LG Display.
- Chang Yang Lee: Reappointed Outside Director and Audit Committee Member; Professor of Economics and Public Policy at KAIST.
- Chung Hae Kang: Newly appointed Outside Director and Audit Committee Member; Professor of Law with expertise in Environmental and Financial Law.
- Byung Ho Lee: Newly appointed Audit Committee Member; Professor of Electrical and Computer Engineering at Seoul National University.
The filing notes that 3 out of 4 outside directors attended the Board meeting. No specific risks, contingencies, or unusual items were disclosed in this text.
Key Facts for Investor Verification
- Verify the date and venue of the Annual General Meeting: March 23, 2022, at the LG Display Paju Display Cluster.
- Confirm the specific details of the proposed Amendment to Articles of Incorporation, which are not detailed in this filing.
- Review the full Consolidated Financial Statements for fiscal year 2021 once released, as this filing only lists them as an agenda item.
- Monitor the voting results for the appointment of the new directors and the remuneration limits for 2022.