27 Oct 2016 11:00
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") announced today that its Board of Directors have authorized the following related-party transaction with an affiliated company.
Participation in Capital Increase
- Participation in the new capital issuance of Samsung Heavy Industry
□ Major Transaction Terms
Transaction Items | 25,255,341 common shares of Samsung Heavy Industry |
Transaction Date | 11/08/2016 |
Transaction Value | KRW 181,081 million (Total investment volume: KRW 439,380 million) |
Purpose of Transaction | To purchase new shares issued by Samsung Heavy Industry allotted to existing shareholders |
Terms and Conditions | * The transaction date is the subscription end date for existing shareholders. * The transaction amount was calculated based on the issue price per share in the company's new capital issue disclosure made on September 28, 2016. . * The total investment volume is the cumulative amount of investment to date, including the transaction set forth herein. * The terms above are subject to change in process of SHI's new capital issuance program |
Other Information:
ž Number of Independent Directors Present at the Board of Directors 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 an affiliate of the party required to make the disclosure.
Samsung El.gdr (SMSN)