Samsung Electronics SMSN BOD Approval of Merger Contract (SEHF Korea)

  Samsung Electronics (SMSN) - BOD Approval of Merger Contract (SEHF Korea)

RNS Number : 6208P
Samsung Electronics Co. Ld
26 October 2012
 



 

 

                                       

               BOD Approval of the Merger Contract (SEHF Korea)

                                       

On October  26,  2012, the  BOD  of Samsung  Electronics approved  the  merger 
contract with SEHF Korea, which was  previously decided at the BOD meeting  on 
September 13, 2012.

 

□ Details of the Merger

 

   1. Method of merger:

SEHF Korea will be merged into Samsung Electronics at a merger ratio of 1:0

※ Since Samsung Electronics holds 100% stake in SEHF Korea, SEHF Korea will be
merged into Samsung Electronics without new shares issued.

 

   2. Purpose

To enhance  manufacturing  competitiveness  of  Samsung  Electronics'  handset 
business by

securing technological competence in  components including camera modules  and 
touch screen

panels, thereby raising shareholder value.

 

3. Voting results

Total number  of shares  held by  dissenting shareholders  accounted for  0.2% 
(389,239 shares) of 

total shares issued. 

 

4. Date of merger: December 1, 2012

 

※ Since the shares to be provided account for less than 10% of the total share
issued, this deal
constitutes a small-scale merger pursuant to Article 527-3 of the Commercial
Act and
the BOD approval will substitute the General Meeting of Shareholders.

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
STRFESSWMFESEES -0- Oct/26/2012 07:22 GMT