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15 Dec 2009 09:46
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BOD Authorization of Management Decisions
OnΒ December 15, 2009, the BOD of Samsung Electronics authorized the following management decisions.Β
1.Β Merger between Samsung ElectronicsΒ and Samsung Digital Imaging
OnΒ December 15, 2009, theΒ BODΒ of Samsung ElectronicsΒ announced it is seeking to merge with Samsung Digital Imaging Co., Ltd. as part of a move to become a global leader in the digital camera business.Β
The merger, expected to be signed on Jan. 22, 2010, will go into effect from April 1, 2010, once the transaction is approved at the shareholders meetingΒ of Samsung Digital Imaging.Β
Under the agreement, the Samsung Digital Imaging will be absorbed into Samsung Electronics, as a business unit responsible for digital cameras, camcorders, and optical devices.Β The merger ratio of the two companies is to be Samsung Electronics: Samsung Digital Imaging =Β 1:0.0577663.
The merger will benefitΒ Samsung Electronics by maximizing Samsung Digital Imaging's optical technology,Β andΒ applying the technology to other businesses such as camera phones, and printer businesses.Β
2.Β Book Closure/Record Date for Merger with Samsung Digital Imaging
OnΒ December 15, 2009, theΒ BODΒ of Samsung Electronics decided onΒ theΒ book closureΒ period andΒ theΒ record date forΒ the merger between Samsung Electronics and Samsung Digital Imaging. The book closure aims to determine theΒ list of shareholders entitled to exercise the right to dissent.Β
β« Details
Book closure period: BetweenΒ January 1Β andΒ January 31, 2010
Record date:Β DecemberΒ 31, 2009
3.Β Real estate sales to affiliate
OnΒ December 15, 2009, the BOD of Samsung Electronics authorized the sales of real estate to its affiliate, Samsung LifeΒ Insurance.
β«Β Details
- ContractΒ amount:Β KRW 504.8 billion
- Expected contract date:Β DecemberΒ 23, 2009
- BOD decision date:Β DecemberΒ 15, 2009
- Transaction property: 6,595 square meter of land and 83,639.81 square meter of building (26 above-ground floors and four underground floors)
Β (250 Taepyongno 2-ga, Chung-Gu,Β Seoul,Β Korea)
- Purpose of transaction: Sales of property not directly related to manufacturing and sales.
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