Merger between Samsung Electronics and SEHF Korea

Merger between Samsung Electronics and SEHF Korea

On September 13, 2012, the BOD of Samsung Electronics announced its decision to seek a merger between Samsung Electronics and SEHF Korea, the company's subsidiary. The purpose is to enhance manufacturing competitiveness of Samsung Electronics' handset business by securing technological competence in components including camera modules and touch screen panels, thereby raising shareholder value. 

□ Details of the Merger

1. Method of merger:

SEHF Korea will be merged into Samsung Electronics at a merger ratio of 1:0

2. Major Schedule:

 - Contract signing date: September 26, 2012

- Date of merger notification:October 10, 2012

- Book closing period to determine shareholders entitled to exercise the right to dissent:

 October 10~25, 2012

- Samsung Electronics BOD Meeting to approve the merger: October 26, 2012

※ Since the merger will be pursued in the form of a small-scale merger, the BOD approval

 will substitute a Shareholder's Meeting as stipulated in Article 527-3 of the Commercial

 Law. If a shareholder owning more than 20% of the surviving entity's outstanding share

 sends a written notice of dissent within two weeks after the date of the merger notification,

the merger cannot proceed as a small-scale merger and will immediately loses its effect.  

- Date of merger: December 1, 2012

Book Closing/Record Date for Merger with SEHF Korea

As noted above, the details of the book closing for determining the list of shareholders entitled to exercise the right to dissent is as follows:

- Record date: October 9, 2012

- Book closing period: October 10~25, 2012