Delisting of Stocks, etc., from Overseas Stock Exchange
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD), on October 31, 2024, announced that its Board of Directors has authorized following Delisting of Stocks, etc., from Overseas Stock Exchange.
| 1. Type and number of shares delisted | Common | - |
| Other | 38,685,850 | |
| 2. Listing exchange and location | Luxembourg Stock Exchange (Luxembourg) | |
| 3. Planned date of delisting application | November 6, 2024 | |
| 4. Planned date of delisting | March 31, 2025 | |
| 5. Reasons for delisting | Insignificant trading volume of preferred share depositary receipts | |
| 6. Date of board resolution (confirmation date) | October 31, 2024 | |
| - Attendance of independent directors at the board of directors meeting | Present | 6 |
| Absent | 0 | |
| - Attendance of auditors (audit committee members) | Present | |
7. Other information to consider:
- In item 1 above, the types of shares being delisted are depositary receipts (DRs) derived from
the preferred shares of Samsung Electronics. The DR ratio is 25:1.
- In item 1 above, the number of shares being delisted, 38,685,850 (or 1,547,434 DRs), is as of
October 25, 2024.
- The planned date of delisting (item 4) is subject to change in accordance with the approval
timeline of the Luxembourg Stock Exchange. Samsung Electronics plans to announce the same
when the delisting date is confirmed.
- Samsung Electronics was listed on the Luxembourg Stock Exchange in 1991 through issuance
of DRs representing preferred shares in order to facilitate transactions for overseas investors.
Although the DRs are being delisted in the Luxembourg Stock Exchange at this time, overseas
investors will continue to be able to trade the preferred share DRs as they will be listed on the
London Stock Exchange. Furthermore, the holders of preferred share DRs can freely exchange
their DRs for the underlying preferred shares if they so wish, in accordance with the previous
terms.
8. Reference:
- The DRs are based on preferred shared issued pursuant to Title Ⅷ of the Articles of
Incorporation of Samsung Electronics.
- The portion of profit for preferred shares are non-cumulative and the dividend rate for preferred
shares is 1% more than that for common shares on an annual basis. The preferred shares are
non-voting.
Listing of Stocks, etc. on Overseas Stock Exchange
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD), on October 31, 2024, announced that its Board of Directors has authorized following Listing of Stocks, etc., from Overseas Stock Exchange.
| 1. Types and number of shares to be listed | Common | - |
| Other | 38,685,850 | |
| - Total number of issued shares | Common | - |
| Other | 822,886,700 | |
| 2. Public offering method | Primary | - |
| Secondary | - | |
| 3. Purpose of financing (primary offering) | - | |
| 4. Total number of securities to be listed | Underlying stock | - |
| DRs | 1,547,434 | |
| 5. Listing exchange and location | London Stock Exchange (United Kingdom) | |
| 6. Purpose of listing | Transfer the DRs representing preferred stock from the Luxembourg Stock Exchange to the London Stock Exchange | |
| 7. Planned date of listing | March 31, 2025 | |
| 8. Date of board resolution (decision date) | October 31, 2024 | |
| - Attendance of independent directors at the board of directors meeting | Present | 6 |
| Absent | 0 | |
| - Attendance of auditors (audit committee members) | Present | |
9. Other information to consider:
- In item 1 above, the types and numbers of shares to be listed are depositary receipts (DRs) derived
from the preferred shares of Samsung Electronics as of October 25, 2024.
- In item 1 above, the number of shares to be listed refers to the total number of preferred stocks
issued by the Company, deducting the number of profit redemption by board resolutions (as of
October 25, 2024).
- In relation to items 2 and 3 above, the listing of preferred stock DRs on the London Stock
Exchange is a transfer of the existing preferred stock DRs that are listed on the Luxembourg Stock
Exchange. Therefore, there is no public offering and public sale of securities and no financing.
- The number of DRs to be listed (item 4) is derived from the number of underlying preferred shares
(i.e., 38,685,850) with DR ratio of 25:1.
- The planned date of listing (item 7) may change pursuant to the approval timeline of the London
Stock Exchange, and it will be announced once the date is confirmed.
10. Reference:
- The DRs are based on preferred shared issued pursuant to Title Ⅷ of the Articles of
Incorporation of Samsung Electronics.
- The portion of profit for preferred shares are non-cumulative and the dividend rate for preferred
shares is 1% more than that for common shares on an annual basis. The preferred shares are
non-voting.
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