30 Apr 2019 09:05
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on April 30, 2019 announced that its Board of Directors has authorized the following transaction with an affiliated company.
Investment in a Venture Fund
- Investment in the New Technology Investment Fund of Samsung Venture Investment Corporation's (SVIC 45), an affiliated company of Samsung Electronics
□ Major Transaction Terms
Transaction Date | - |
Transaction Value | KRW 198 billion (or 99% of the KRW 200 billion total) |
Purpose of Transaction | To strengthen competitiveness of existing businesses and discover new growth drivers |
Terms and Conditions | * The establishment of the new venture fund is scheduled for May 2019 but is subject to change. * The total fund consists of KRW 198 billion from SEC and KRW 2 billion from SVIC. |
Other Information:
ž Number of Independent Directors present at the Board meeting: 6 (100%)
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.
Samsung El.gdr (SMSN)