November 25, 2003 in Social Responsibility News

BOD Authorization of Capital Decrease with Consideration of Samsung Chemicals

□ Details
- The BOD of Samsung Electronics has approved the agenda for a capital
decrease with consideration presented in the interim shareholders meeting of
Samsung Chemicals.
- Under the planned capital decrease, Samsung Chemicals will refund
the shareholders with its internal cash, and will cancel all the
treasury stock of 2.176 million shares.
· The capital decrease reduces the total number of shares
(68. 451 million shares) by 17.276 million shares, approximately
KRW 170 billion (in KRW 9,840 per share)
* The 675,000 shares (KRW 6.6 billion) out of the total holdings
of 2.589 million shares (representing 3.78% of the shares outstanding)
by Samsung Electronics are subject to refund.
- Schedule : The interim shareholders meeting on November 27, 2003.
→ Procedure to protect creditors from November 28, 2003 ~
December 29, 2003.
→ Refund on December 30, 2003

□ Purpose
- Samsung Electronics will recover some of its investment in the
chemical company through the capital decrease, and will be able to
run its assets more efficiently.


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