Last checked at 31 Oct 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 fourth and final phase of the share repurchase program we announced on January 24. All repurchased shares will be cancelled. As a part of the 9.3 trillion won share repurchase program, we have now completed the third phase. We invested approximately 7 trillion won in the first three phases, where we repurchased and cancelled 2.59 million and 648,000 common and preferred shares respectively. Details of the fourth phase of the repurchase program are set forth below:
□ Details of Repurchase (4th phase)
Type of Shares to be Repurchased | 1. Common stock 2. Preferred stock |
Estimated Total Number of Shares to be Repurchased | 1. Common stock: 712,000 (71,200 Daily purchase limit) 2. Preferred stock: 178,000 (17,800 Daily purchase limit) |
Estimated Total Purchase Price for Repurchase of Shares | KRW 2.3 trillion - Common stock: KRW 1,923,824 million (KRW 2,702,000 per share) - Preferred stock: KRW 380,030 million (KRW 2,135,000 per share) * Estimated total purchase price noted above is based on the market closing price of 30 October 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 1 November 2017 to 31 January 2018 |
Other Information | - All repurchased shares will be cancelled - Current ownership of treasury shares: 1. Common Shares: 8,990,843 (7.0% of the total issued shares) 2. Preferred Shares: 1,614,846 (8.8% of the total issued shares) |
□ Attendance of Independent Directors at the BoD meeting : 5 (100%)
* This public disclosure is in accordance with the Article 161 of Korean Financial Investment Services and Capital Market Act and the Article 171 of Enforcement Decree of the Financial Investment Services and Capital Market Act.