Last checked at 28 Jan 2016 09:54
Notice Regarding Approval of Share Buyback and Cancellation Plan
On 28 January 2016, the Board of Directors of Samsung Electronics Co., Ltd. approved a plan for the limited buyback and cancellation of our common and preferred stock.
□ Details of Repurchase
Type of Shares to be Repurchased | 1. Common stock 2. Preferred stock |
Estimated Total Number of Shares to be Repurchased | 1. Common stock: 2,100,000 (210,000 Daily purchase limit) 2. Preferred stock: 530,000 (53,000 Daily purchase limit) |
Estimated Total Purchase Price for Repurchase of Shares | KRW 3.0 trillion - Common stock: KRW 2,467,500 million ( KRW 1,175,000 per share) - Preferred stock: KRW 522,050 million (KRW 985,000 per share) * Estimated total purchase price noted above is based on the market closing price of 27 January 2016. The actual total purchase price may differ from the current estimate. |
Acquisition Method | Open market purchase through intermediaries - Samsung Securities Co., Ltd. - Korea Investment & Securities, Co., Ltd. - Kyobo Securities Co., Ltd. - Mirae Asset Securities Co., Ltd. - Hana Financial Investment Co., Ltd. |
Purchase Period | From 29 January 2016 to 28 April 2016 |
Other Information | - All repurchased shares will be cancelled after the buyback is completed - Current ownership of treasury shares: 1. Common Share: 17,981,686 (12.4% of the total issued shares) 2. Preferred Share: 3,229,693 (15.0% of the total issued shares) |
□ Attendance of Independent Directors at the BoD meeting: 4 (80%)