31 Jul 2018 09:02
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") on July 31, 2018 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 Display Co., Ltd. |
Lease Period | August 1, 2018-July 31, 2020 |
Transaction Amount | KRW 15,107 million/year |
Purpose of Transaction | Lease of land and building |
Terms and Conditions | 1. Deposit: - 2. Annual rental payment: KRW 15,107 million - 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)