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 Electronicsapproved 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.
To enhance manufacturing competitiveness of Samsung Electronics' handset
securing technological competence in components including camera modules and
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
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
STRFESSWMFESEES -0- Oct/26/2012 07:22 GMT
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