The suggestions include setting up a holding company and listing the operating company on the Nasdaq. Now, Samsung will not only have to firefight battery related issues in its smartphone, but also in the board room.

In a fresh signs of trouble for Samsung Electronics Co Ltd, a minority investor has stated that it supports Elliott Management’s restructuring proposal for the South Korean technology giant, in order to boost shareholder’s value.

“We are supportive of restructuring and a higher dividend payout to unlock the value in the business (of Samsung) as long-term shareholders,” said Andrew Gillan, head of Asia (other than Japan) at Henderson Global Investors.

On Wednesday, Elliott had sent a letter to Samsung, the world’s top phone manufacturer, which spells out restructuring changes at the company, which included setting up a holding company and listing the shares of its operating company on the Nasdaq stock exchange.

“We are aligned with Elliott and all other minority shareholders in wishing to unlock the value in the company but have not had any specific contact with Elliott,” said Gillan in the email.

According to Thomson Reuters Data, Henderson owns only 0.12% of Samsung Electronics.

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