REG - Samsung Electronics - Transaction with Affiliate Company

Samsung Electronics CoAnnouncement

31/07/2024 09:45

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RNS Number : 5702Y  Samsung Electronics Co. Ld  31 July 2024

Transaction with Affiliate Company

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC" or the
"Company"), on July 31, 2024, announced that its Board of Directors has
authorized following transactions with following affiliated companies.

 

Purchase of Insurance Policy from Samsung Fire & Marine Insurance

□ Major transaction terms

 Insurer                      Samsung Fire & Marine Insurance Co., Ltd.
 Application date             September 1, 2024
 Type of insurance            Package insurance
 Insurance premium            KRW 10.7 billion
 Insurance coverage period    September 1, 2024-August 31, 2026 (24 months)
 Insurance coverage           Buildings, machinery, etc., in SEC DX Division's various business and factory
                              sites located in Korea
 Method of insurance payment  Annual payment(2 years)
 Purpose of transaction       To comprehensively insure against the risks and potential losses from property
                              damage and injury to persons, as well as the suspension of operational
                              activities, caused by fires, explosions, natural disasters, etc., at SEC DX
                              Division's various business and factory sites in Korea.

Other Information:

ž Number of Independent Directors present at the Board of Directors meeting:
6 (100% attendance)

ž Attendance of Audit Committee: Y

 

□ Major transaction terms

 Insurer                      Samsung Fire & Marine Insurance Co., Ltd.
 Application date             October 1, 2024
 Type of insurance            Package insurance
 Insurance premium            KRW 187.7 billion
 Insurance coverage period    October 1, 2024-September 30, 2026 (24 months)
 Insurance coverage           Buildings, machinery, etc., in SEC DS Division's various business and factory
                              sites located in Korea
 Method of insurance payment  Annual payment(2 years)
 Purpose of transaction       To comprehensively insure against the risks and potential losses from property
                              damage and injury to persons, as well as the suspension of operational
                              activities, caused by fires, explosions, natural disasters, etc., at SEC DS
                              Division's various business and factory sites in Korea.

Other Information:

ž Number of Independent Directors present at the Board of Directors meeting:
6 (100% attendance)

ž Attendance of Audit Committee: Y

 

 

 

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