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30 April 2025 08:42:22
- Source: Sharecast
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC"), on April 30, 2025, announced that its Board of Directors has authorized the following related-party transactions with affiliated companies.
1. Participation in rights offering
- Participation in the new stock issuance of Samsung SDI ("SDI")
□ Major transaction terms
|
Transaction items |
2,284,590 common shares of SDI |
|
Transaction date |
May 22, 2025 |
|
Transaction value |
KRW 334 billion (total invested capital of KRW 1,728.2 billion) |
|
Purpose of transaction |
To purchase new shares issued by SDI 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 SDI's new capital issue disclosure on April 9, 2025. * The total invested capital is SEC's cumulative investment in SDI, including the transaction set forth herein. * The terms above are subject to changes in the process of SDI's capital increase process. |
Other Information:
- Number of Independent Directors present at the Board of Directors meeting: 6
- Attendance of Audit Committee: Y
2. Purchase of Employee Insurance Policy from Samsung Fire & Marine Insurance
□ Major Transaction Terms
|
Insurer |
Samsung Fire & Marine Insurance |
|
Application date |
May 2, 2025 |
|
Type of insurance |
Employee insurance policy |
|
Insurance premium |
KRW 26.2 billion |
|
Insurance period |
May 2, 2025-May 2, 2028 (3 years) |
|
Purpose of transaction |
Insure eligible employees for unforeseen health costs, as part of the Company's employee welfare program |
|
Method of insurance payment |
Annual installment payment (3 years) |
Other Information:
ž Number of Independent Directors present at the Board of Directors meeting: 6
ž Attendance of Audit Committee: Y
3. Investment in the New Technology Investment Association (SVIC 74)
- Investment in the New Technology Investment Association (SVIC 74), established by Samsung Venture Investment Corporation (SVIC).
□ Major transaction terms
|
Transaction date |
May 2025 |
|
Transaction value |
KRW 148.5 billion (to be made in cash) |
|
Purpose of transaction |
Discovery/acquisition of promising technologies for future readiness and reinforcement of business competitiveness in the DX division |
|
Terms and conditions |
* With the investment, SEC joins the New Technology Investment Association (SVIC 74). * The total amount of the Investment Association (KRW 150 billion) is comprised of KRW 148.5 billion from SEC and KRW 1.5 billion from SVIC. * The funds will be paid on an as-needed basis via investments over the 7-year term of SVIC 74. Both SEC's join date and duration of SVIC 74 are subject to change. |
Other Information:
- Number of Independent Directors present at the Board of Directors meeting: 6
- 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 10 billion and the counterparty is an affiliate of the party required to make the disclosure.
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