29 Apr 2020 07:46
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on April 29, 2020 announced that its Board of Directors has authorized the following related-party transaction with an affiliated company.
Real Estate Lease Agreement
□ Major Transaction Terms
Owner of Property | Samsung Electronics Co., Ltd. |
Lessee | Samsung SDI Co., Ltd. |
Lease Period | May 1, 2020-April 30, 2022 |
Transaction Amount | KRW 7,428 million/year |
Purpose of Transaction | Lease of office space and research lab |
Terms and Conditions | - Deposit: KRW 7,879 million - Annual rental payment: KRW 7,286 million - Transaction Amount is the sum of annual rental payment and deposit*interest rate of 1.8% (as per related act) |
Other Information:
Number of Independent Directors present at the BOD meeting: 6 (100%) 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.
Samsung El.gdr (SMSN)