REG - Samsung Electronics - Transactions with Affiliated Companies

Samsung Electronics CoAnnouncement

20/03/2024 09:15

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RNS Number : 5907H  Samsung Electronics Co. Ld  20 March 2024

Transactions with Affiliated Companies

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC"), on
March 20, 2024, announced that its Board of Directors has authorized the
following related-party transactions with affiliated companies.

 

1. Real Estate Lease Agreement

□ Major Transaction Terms

(KRW 10 mil)

 Owner of property       Samsung Electronics
 Lessee                  Samsung Life Insurance
 Lease period            May 1, 2024-April 30, 2029
 Transaction amount      2,134/year
 Purpose of transaction  Lease of office space
 Terms and conditions    - Deposit: 1,736

                         - Annual rental payment: 2,084

                         - Transaction amount is the sum of the annual rental payment and converted
                         annual rental payment, where the converted annual rental payment is calculated
                         by multiplying the deposit amount and the interest rate provided for by the
                         applicable Act, currently set at 2.9%

                         - The foregoing deposit and the annual rental payment refer to the amount
                         applicable in the first year; the corresponding figures in the subsequent
                         contract years may vary as they are adjusted for inflation

Other information:

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

ž Attendance of Audit Committee: Y

 

□ Major Transaction Terms

(KRW 10 mil)

 Owner of property       Samsung Electronics
 Lessee                  Samsung Securities
 Lease period            May 1, 2024-April 30, 2029
 Transaction amount      1,334/year
 Purpose of transaction  Lease of office space
 Terms and conditions    - Deposit: 1,085

                         - Annual rental payment: 1,303

                         - Transaction amount is the sum of the annual rental payment and converted
                         annual rental payment, where the converted annual rental payment is calculated
                         by multiplying the deposit amount and the interest rate provided for by the
                         applicable Act, currently set at 2.9%

                         - The foregoing deposit and the annual rental payment refer to the amount
                         applicable in the first year; the corresponding figures in the  subsequent
                         contract years may vary as they are adjusted for inflation

Other information:

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

ž Attendance of Audit Committee: Y

 

2. Provision of Collateral Security

 SEC to use a building and land as collateral to secure the deposit in the
above transaction

□ Major Transaction Terms

(KRW 10 mil)

 Owner of property            Samsung Electronics
 Related party                Samsung Life Insurance
 Collateral security          Land and building
 Security period              May 1, 2024~ (expires at the repayment of deposit)
 Guaranteed amount            1,736
 Maximum guaranteed amount    2,084
 Terms and conditions         - Security period is subject to change.

                              - The maximum guaranteed amount is 120% of the guaranteed amount.

Other information:

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

ž Attendance of Audit Committee: Y

 

□ Major Transaction Terms

(KRW 10 mil)

 Owner of property            Samsung Electronics
 Related party                Samsung Securities
 Collateral security          Land and building
 Security period              May 1, 2024~ (expires at the repayment of deposit)
 Guaranteed amount            1,085
 Maximum guaranteed amount    1,303
 Terms and conditions         - Security period is subject to change.

                              - The maximum guaranteed amount is 120% of the guaranteed amount.

Other information:

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

ž Attendance of Audit Committee: Y

 

 

 

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