Samsung Electronics : Notice Regarding Approval of Share Buyback and Cancellation Plan
January 24, 2017 at 05:40 pm
Share
Notice Regarding Approval of Share Buyback and Cancellation Plan
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ('SEC') announced today that its Board of Directors has approved the first phase of the share repurchase program. Shares will be repurchased over three to four phases, and all repurchased shares will be cancelled.
□ Details of Repurchase
Type of Shares to be Repurchased
1. Common stock
2. Preferred stock
Estimated Total Number of Shares to be Repurchased
1. Common stock: 1,020,000 (102,000 Daily purchase limit)
Estimated Total Purchase Price for Repurchase of Shares
KRW 2.3 trillion (of the total repurchase value of KRW 9.3 trillion)
- Common stock: KRW 1,941,060 million (KRW 1,903,000 per share)
- Preferred stock: KRW 384,540 million (KRW 1,508,000 per share)
* Estimated total purchase price noted above is based on the market closing price of 23 January 2017. The actual total purchase price may differ from the current estimate.
Acquisition Method
Open market purchase through intermediaries
- Samsung Securities Co., Ltd.
- Kyobo Securities Co., Ltd.
- Korea Investment & Securities Co., Ltd.
- Mirae Asset Daewoo Co., Ltd.
- Hana Financial Investment Co., Ltd.
Purchase Period
From 25 January 2017 to 24 April 2017
Other Information
- All repurchased shares will be cancelled
- Current ownership of treasury shares:
1. Common Shares: 17,981,686 (12.8% of the total issued shares)
2. Preferred Shares: 3,229,693 (15.7% of the total issued shares)
□ Attendance of Independent Directors at the BoD meeting: 5 (100%)
* This public disclosure is in accordance with the Article 161 of Korean Financial Investment Services and Capital Market Act and the Article 171 of Enforcement Decree of the Financial Investment Services and Capital Market Act.
Samsung Electronics Co. Ltd. published this content on 24 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 January 2017 17:40:12 UTC.
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Samsung Electronics Co Ltd is Korea-based company principally engaged in the manufacture and distribution of electronic products. The Company operates its business through four segments. The Information Technology & Mobile Communications (IM) segment manufactures computers, handhold phones (HHPs), network systems, digital cameras and others. The Device Solutions (DS) segment provides semiconductor and display parts, including dynamic random access memories (DRAMs), flashes, thin film transistor-liquid crystal displays (TFT-LCDs) and others. The Consumer Electronics (CE) segment manufactures color televisions (CTVs), monitors, printers, air conditioners, refrigerators, laundry machines and others. The Harman segment manufactures headunits, infotainment, telematics, speaker, among others. The Company distributes its products within domestic market and to overseas markets.