Transaction with Affiliate Company
Source: RNS
Transaction with Affiliate Company
The Board of Directors of Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on January 31, 2023, 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, 2023-January 31, 2027 |
|
Transaction amount |
KRW 45.59 billion/year |
|
Purpose of transaction |
Lease of land, building, and equipment |
|
Terms and conditions |
1. Deposit: N/A 2. Annual rental payment: KRW 45.59 billion - The annual rental payment is an average of the values calculated by multiple appraisal and assessment institutions considering asset price, expected profit, etc. ※Transaction amount will be recalculated and applied at the start of the third year on February 1, 2025 (average of the values calculated by multiple appraisal and assessment institutions) |
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.
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