28 Apr 2016 10:42
Notice Regarding Confirmation of Next Phase of Share Buyback and Cancellation Plan
On 28 April 2016, the Board of Directors of Samsung Electronics Co., Ltd. confirmed the next stage of theCompany's announced plan for the limited buyback and cancellation of its common and preferred stock, whichwas first disclosed on October 29, 2015.
□ 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: 1,300,000 (130,000 Daily purchase limit) 2. Preferred stock: 320,000 (32,000 Daily purchase limit) |
Estimated Total Purchase Price for Repurchase of Shares | KRW 2.0 trillion - Common stock: KRW 1,690,000 million ( KRW 1,300,000 per share) - Preferred stock: KRW 343,680 million (KRW 1,074,000 per share) * Estimated total purchase price noted above is based on the market closing price of 27 April 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 April 2016 to 28 July 2016 |
Other Information | - All repurchased shares will be cancelled - Current ownership of treasury shares: 1. Common Share: 17,981,686 (12.6% of the total issued shares) 2. Preferred Share: 3,229,693 (15.3% of the total issued shares) |
□ Attendance of Independent Directors at the BoD meeting: 5 (100%)
Samsung El.gdr (SMSN)