30 Nov 2020 08:51
Transaction with Affiliate Company
The Board of Directors of Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on November 30, 2020 authorized the following related-party transaction with an affiliated company.
Lease agreement
□ Major transaction terms
Owner of property | Samsung Display Co., Ltd. |
Lessee | Samsung Electronics Co., Ltd. |
Lease period | February 1, 2021-January 31, 2023 |
Transaction amount | KRW 31.94 billion/year |
Purpose of transaction | Lease of land, building, building facilities, and equipment |
Terms and conditions | 1. Deposit: N/A 2. Annual rental payment: KRW 31.94 billion - The annual rental payment is an average of the values calculated by multiple appraisal and assessment institutions considering asset price, expected profit, etc. |
Other Information:
ž Number of Independent Directors present at the BOD 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)