REG - Samsung Electronics - Transactions with Affiliated Companies

Samsung Electronics CoAnnouncement

31/01/2024 07:00

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RNS Number : 5035B  Samsung Electronics Co. Ld  31 January 2024

Transaction with Affiliate Company

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on January 31,
2024, announced that its Board of Directors has authorized the following
related-party transaction with an affiliated company.

 

Trademark License Agreement

-     Grant trademark license to Samsung Medison

□ Major Transaction Terms

 Transaction Item    License fee for use of trademark
 Transaction Date    February 1, 2021
 Transaction Period  February 1, 2021-January 31, 2024
 Transaction Value   KRW 6.6 billion

                     (total transaction value: KRW 6.6 billion)
 Contract Type       -
 Other information   - The cumulative transaction value up to end-2022 was less than the threshold
                     for Board approval of KRW 5 billion. However, when adding the total value for
                     2023, the cumulative value exceeds the threshold, necessitating Board approval
                     to collect the trademark license fees.

                     - The transaction date is the date the trade license agreement was made with

                      Samsung Medison.

                     - The transaction value is an estimated cumulative amount for the transaction
                     period (i.e., 3 years) and may change according to Samsung Medison's revenue.

                     * The license fee is set at 0.5% of Samsung Medison's revenue (excluding

                      revenue not related to the use of trademark) and shall be paid

                      every year during the transaction period.

Other Information:

ž Number of Independent Directors Present at the BOD Meeting: 6/6

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 a financial affiliate of the party required to
make the disclosure.

 

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