Last checked at 26 Nov 2014 07:34
Notice on Decision of the Share Repurchase
On 26 November 2014, Samsung Electronics' the Board of Directors approved repurchase of our common and preferred stocks.
1. Reason for repurchasing shares
To increase shareholder value through securing share price stability
2. Details of matters relating to repurchase
Kind of stock to be repurchased | 1. Common stock 2. Preferred stock |
Estimated Total number of shares to be repurchased | 1. Common stock: 1,650,000 (165,000 Daily purchase limit) (Represents 0.1% of the total number of issued shares excluding treasury shares) 2. Preferred Stock: 250,000 (25,000 Daily purchase limit) (Represents 0.1% of the total number of issued shares excluding treasury shares) |
Estimated Total purchase price for repurchase of shares | KRW 2.2 trillion - Common stock: KRW 1,963.5 billion ( KRW 1,190,000 per share) - Preferred stock: KRW 229.8 billion (KRW 919,000 per share) * Estimated total purchase price noted here is based on the market closing price of 25 November 2014. The actual total purchase price may differ from the current estimate. |
Method of acquisition | Open market purchase program through intermediaries - Samsung Securities Co., Ltd. - Korea Investment & Securities, Co., Ltd. - Kyobo Securities Co., Ltd. - Mirae Asset Securities Co., Ltd. - Hana Daetoo Securities Co., Ltd. |
Period of Purchase | From 27 November 2014 to 26 February 2015 |
Other material information | The current ownership of treasury shares: 1. Common Share: 16,336,686 (11.1% of the total issued shares) 2. Preferred Share: 2,979,693 (13.0% of the total issued shares) |
5. Attendance of Independent Director at the BoD meeting: 4 (80%)
6. Attendance of Audit Committee members at the BoD meeting: Yes (100%)