Samsung Electronics Co. Ld Transaction with Affiliate Company (3991H)
27 Luglio 2023 - 9:15AM
UK Regulatory
TIDMSMSN
RNS Number : 3991H
Samsung Electronics Co. Ld
27 July 2023
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD)
on July 27, 2023, announced that its Board of Directors authorized
the following related-party transaction with an affiliated
company.
Purchase of Mobile device insurance policy from Samsung Fire
& Marine Insurance
Major transaction terms
Insurer Samsung Fire & Marine Insurance
Application date August 2023
--------------------------------------------
Type of insurance Mobile device insurance
--------------------------------------------
Insurance premium KRW 5.91 billion
--------------------------------------------
Insurance benefit -
--------------------------------------------
Insurance coverage 1 year from the application date
period
--------------------------------------------
Total insurance KRW 5.91 billion
premium
--------------------------------------------
Insurance coverage Smartphone liability (for models designated
by SEC)
--------------------------------------------
Method of insurance Installments in accordance with the
payment application date
--------------------------------------------
Interest rate -
(%)
--------------------------------------------
Purpose of transaction To comprehensively insure against the
risks and potential losses caused by
unpredictable accidents associated
with SEC's mobile devices
--------------------------------------------
Other information:
- The application date refers to the date on which the Company
purchases a mobile device insurance policy, and the Company plans
to complete the purchase in August 2023.
- The total amount for insurance premium is an estimate, and
such amount may change in relation to the number of smartphones
sold.
- Number of Independent Directors present at the Board of
Directors Meeting: 6 (100% attendance)
- 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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END
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July 27, 2023 03:15 ET (07:15 GMT)
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