REG - Samsung Electronics Samsung Elec - SMSD - Decision on Cancellation of Shares

Samsung Electronics CoAnnouncement

18/02/2025 10:00

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RNS Number : 5246X  Samsung Electronics Co. Ld  18 February 2025

Decision on Cancellation of Shares

 

 1. Number of shares to be cancelled                                        Common (shares)                 50,144,628
                                                                            Other                           6,912,036

                                                                            (shares)
 2. Total number of issued shares                                           Common (shares)                 5,969,782,550
                                                                            Other                           822,886,700

                                                                            (shares)
 3. Price per share (KRW)                                                                                   100
 4. Planned cancellation amount (KRW)                                                                       3,048,696,999,300
 5. Acquisition method of stocks to be cancelled                                                            Repurchased treasury shares
 6. Cancellation date                                                                                       February 20, 2025
 7. Date of board resolution (confirmation date)                                                            February 18, 2025
 - Attendance of Independent Directors at the Board of Directors meeting    Present                         6
                                                                            Absent                          0
 - Attendance of auditors who are not Independent Directors                                                 0

 

8. Other Information to Consider

-The decision on cancellation of shares is regarding treasury shares acquired
in accordance with the Board resolution on November 15, 2024.

- The cancellation of shares repurchased within the range of distributable
profits is carried out by a Board resolution. This results in a reduction in
the number of shares without a decrease in capital.

-Legal basis for cancellation: Article 343, under the provision of Paragraph 1
of the Commercial Act

-In item 1 above, the shares denoted as "other" are preferred shares

-In item 4 above, the planned cancellation amount is calculated by multiplying
the average repurchase price of shares subject to cancellation by the number
of shares to be cancelled, and the amount is based on the book value as of the
Board resolution date for the stock cancellation.

-In the item 6 above, the cancellation date is subject to change depending on
discussions with relevant organizations

-In item 7 above, all Audit Committee members are Independent Directors.

-This cancellation refers to the cancellation of previously purchased treasury
shares, therefore, this disclosure is a substitute for the disclosure of
treasury stock disposal.

 

 

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