Last checked at 27 Oct 2016 11:04
Purchase of Equity Assets of Affiliated Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") announced today that its Board of Directors have authorized the following related-party transaction with an affiliated company.
Purchase of Equity Assets
- Purchase of shares of Cheil Worldwide owned by Samsung C&T through the transaction
□ Major Transaction Terms
Transaction Date | 10/27/2016 |
Transaction Items | 14,539,350 common shares |
Transaction Value | KRW 267,524 million (KRW 18,400 per share) |
Purpose of Transaction | To strengthen strategic ties with Cheil Worldwide |
Total number of shares owned after transaction | 29,038,075 (25.24%) |
Terms and Conditions | * The transaction date will be made through off-hours block trading. * The transaction date is the date of the contract closing. * The terms above are subject to change during the purchase process. |
Other Information:
ž Number of Independent Directors Present at the Board of Directors Meeting: 5
ž Attendance of Audit Committee: Y
※ This disclosure is in accordance with the Korean Fair Trade Act, which mandates that a company must disclose financial and real estate transactions in the event the value of such a transaction is greater or equal to KRW 5 billion and the counterparty is an affiliate of the party required to make the disclosure.