Transaction with Affiliate Company
Source: RNSTransaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") today announced that its Board of Directors has authorized the following related-party transaction with an affiliated company.
Participation in rights offering
- Participation in the new stock issuance of Samsung Biologics ("SB")
□ Major transaction terms
Transaction items |
1,380,477 common shares of SB |
Transaction date |
April 8, 2022 |
Transaction value |
KRW 882.125 billion (total invested capital of KRW 1,325.318 billion) |
Purpose of transaction |
To purchase new shares issued by SB allotted to existing shareholders |
Terms and conditions |
* The transaction date is the subscription end date for existing shareholders. * The transaction value is based on the issue price per share in SB's new capital issue disclosure on February 25, 2022. * The total invested capital is SEC's cumulative investment in SB, including the transaction set forth herein. * The terms above are subject to changes in the process of SB's capital increase process. |
Other Information:
ž Number of Independent Directors present at the Board of Directors meeting: 6
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.
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