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27 Apr 2017 07:00
Notice Regarding Approval of Share Repurchase and Cancellation Plan
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") announced today that its Board of Directors has authorized the second phase of the share repurchase program we announced on January 24. All repurchased shares will be cancelled. Details of the second phase of the repurchase program are set forth below:
□ Details of Repurchase (2nd phase)
Type of Shares to be Repurchased | 1. Common stock 2. Preferred stock |
Estimated Total Number of Shares to be Repurchased | 1. Common stock: 900,000 (90,000 Daily purchase limit) 2. Preferred stock: 225,000 (22,500 Daily purchase limit) |
Estimated Total Purchase Price for Repurchase of Shares | KRW 2.3 trillion - Common stock: KRW 1,926,000 million (KRW 2,140,000 per share) - Preferred stock: KRW 369,225 million (KRW 1,641,000 per share) * Estimated total purchase price noted above is based on the market closing price of 26 April 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 Securities Co., Ltd. - Shinhan Investment Corp. |
Purchase Period | From 28 April 2017 to 27 July 2017 |
Other Information | - All repurchased shares will be cancelled - Current ownership of treasury shares: 1. Common Shares: 17,981,686 (12.9% of the total issued shares) 2. Preferred Shares: 3,229,693 (15.9% of the total issued shares) |
□ Attendance of Independent Directors at the BoD meeting: 5 (100%)
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