31 Jan 2018 07:25
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") today announced that its Board of Directors has authorized the following related-party transaction with an affiliated company.
Trademark License Agreement
- Grant trademark license to Samsung Medicine
□ Major Transaction Terms
Transaction Item | License fee for use of trademark |
Transaction Date | January 31, 2013 |
Transaction Period | January 31, 2013-January 31, 2018 |
Transaction Value | KRW 5,604 million (total transaction value: KRW 5,604 million) |
Contract Type | Negotiated Contract |
Terms and Conditions | * On a cumulative basis, the license fee was below KRW 5 billion at the end of 2016, but exceeded KRW 5 billion after adding the fee for 2017. Accordingly, the payment shall be made upon the approval of the Board of Directors. * The transaction date is the date when the trade license agreement with Samsung Medicine was made. * The transaction value is the cumulative amount of the license fee during the transaction period (five years). * The license fee is set at 0.5% of Samsung Medicine's revenue (not including revenue from licensor or revenue from consignment sales) each year during the transaction period |
Other Information:
ž Number of Independent Directors Present at the BOD 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 a financial affiliate of the party required to make the disclosure.
Samsung El.gdr (SMSN)