28th Oct 2021 08:04
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") today announced that its Board of Directors has authorized the following related-party transaction with an affiliated company.
Participation in Rights Offering
- Participation in the new stock issuance of Samsung Heavy Industries (SHI)
□ Major Transaction Terms
Transaction items | 33,333,883 common shares of SHI |
Transaction Date | October 29, 2021 |
Transaction Value | KRW 171.003 billion (total invested capital of KRW 906.491 billion) |
Purpose of Transaction | To purchase new shares issued by SHI allotted to existing shareholders |
Terms and Conditions | * The transaction date is the subscription end date for existing shareholders. * The transaction value is based on the issue price per share in SHI's new capital issue disclosure on October 25, 2021. * The total invested capital is SEC's cumulative investment in SHI, including the transaction set forth herein. * The terms above are subject to changes in the process of SHI's capital increase process. |
Other Information:
ž Number of Independent Directors present at the Board of Directors meeting: 6
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.
Related Shares:
Samsung El.gdr