May 26, 2003 in Social Responsibility News

Participation in Samsung Card's Rights Offering

1. Details

Samsung Electronics (SEC), the largest shareholder of Samsung Card Co., Ltd. ("Samsung Card") owning 25.88 million shares, has decided to participate in a rights offering by the company. The amount purchased will be in proportion to the number of shares already owned by SEC (56.59%), and serves to help improve Samsung Card's liquidity and financial stability.


2. Size of the Rights Issue

- Samsung Card made a rights offering totaling KRW200 billion (10 million shares × KRW20,000)

- SEC will buy 5,376,293 new shares of Samsung Card in proportion to its current share ownership
of 56.59% for KRW107,525,860,000.
※ 5% of the shares will be pre-allocated to the employees, and SEC will take 56.59% of the remaining 95%.



【Changes in SEC's Samsung Card stock holdings】


 
Current
New shares allocated to SEC
After rights issue


Number of shares(stake)
25,885,653 shares(56.59%)
5,376,293 shares
31,261,946 shares


Investment amount

(billion KRW)
153.4
107.5
31,261,946 shares(56.08%)


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