RNS Number : 6003D
Samsung Electronics Co. Ld
29 October 2020
Transaction with Affiliate Company
Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on October 29, 2020 announced that its Board of Directors has authorized the following related-party transaction with an affiliated company.
Trademark License Agreement
- Grant trademark license to Samsung Biologics
□
Major Transaction Terms
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Transaction Item
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License fee for use of trademark
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Transaction Date
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November 30, 2018
|
|
Transaction Period
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February 1, 2018-January 31, 2021
|
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Transaction Value
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KRW 9,779 million
(total transaction value: KRW 9,779 million)
|
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Contract Type
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Negotiated contract
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Other information
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*
On a cumulative basis, the license fee was below KRW 5 billion at the end of
2019, but exceeded KRW 5 billion after adding the fee for 2020. Accordingly,
the payment shall be made upon the approval of the Board of Directors.
*
The transaction date is the date when the trade license agreement with
Samsung Biologics was made.
* The transaction value is an estimate of cumulative license fee during the
transaction period (3 years) and may change according to Samsung Biologics
revenue.
* The license fee is set at 0.5% of Samsung Biologics' revenue (excluding
revenue or purchases not related to the use of trademark) and shall be paid
every year during the transaction period.
|
Other Information:
ž
Number of Independent Directors Present at the BOD Meeting: 6/6
ž
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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MSCFEFSAUESSESS
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