24th Jan 2017 11:47
Notice Regarding Approval of Share Buyback and Cancellation Plan
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") announced today that the total amount of share repurchase for 2017 is 9.3 trillion won. Shares will be repurchased over three to four phases. All repurchased shares will be cancelled. Today, its Board of Directors has approved the first phase of the share repurchase program.
□ Details of Repurchase (1st phase)
Type of Shares to be Repurchased | 1. Common stock 2. Preferred stock |
Estimated Total Number of Shares to be Repurchased | 1. Common stock: 1,020,000 (102,000 Daily purchase limit) 2. Preferred stock: 255,000 (25,500 Daily purchase limit) |
Estimated Total Purchase Price for Repurchase of Shares | KRW 2.3 trillion - Common stock: KRW 1,941,060 million (KRW 1,903,000 per share) - Preferred stock: KRW 384,540 million (KRW 1,508,000 per share) * Estimated total purchase price noted above is based on the market closing price of 23 January 2017. The actual total purchase price may differ from the current estimate. |
Acquisition Method | Open market purchase through intermediaries - Samsung Securities Co., Ltd. - Kyobo Securities Co., Ltd. - Korea Investment & Securities Co., Ltd. - Mirae Asset Daewoo Co., Ltd. - Hana Financial Investment Co., Ltd. |
Purchase Period | From 25 January 2017 to 24 April 2017 |
Other Information | - All repurchased shares will be cancelled - Current ownership of treasury shares: 1. Common Shares: 17,981,686 (12.8% of the total issued shares) 2. Preferred Shares: 3,229,693 (15.7% of the total issued shares) |
□ Attendance of Independent Directors at the BoD meeting: 5 (100%)
Related Shares:
Samsung El.gdr