27th Oct 2016 10:45
Donation to an Affiliated Non-Profit Organization
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") announced today that its Board of Directors have authorized the following transaction with an affiliated non-profit organization.
Donation to a non-profit organization
- Donation of equipment, including medical devices and measuring instruments, for medical research to Samsung Life Public Welfare Foundation
□ Major Transaction Terms
Transaction Date | Ongoing during 2016 |
Transaction Value | KRW 14,093 million (The total donation amount in 2016 donations is KRW 109,793 million) |
Terms and Conditions | * The estimated value of the donations is based on appraised value. * The total assets of SEC as of the end of the previous business year is KRW 168,969,630 million, with the ratio of donation to total assets being 0.008%. |
Other Information:
ž Number of Independent Directors Present at the Board of Directors meeting: 5
ž Attendance of Audit Committee: Y
※ This disclosure is in accordance with the Korean Fair Trade Act, which mandates that a company must disclose financial and real estate transactions in the event the value of such a transaction is greater or equal to KRW 5 billion and the counterparty is an affiliate of the party required to make the disclosure.
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