Samsung Electronics to Cancel Treasury Shares Worth 3 Trillion KRW... Up to Additional 3 Trillion KRW Buyback

Samsung Electronics will cancel treasury shares worth 3 trillion KRW to enhance shareholder value. It also decided to acquire treasury shares worth 3 trillion KRW.

On the 18th, Samsung Electronics announced that it decided to cancel 50,144,628 common shares and 6,912,036 preferred shares. The cancellation amount is approximately 3.0487 trillion KRW and is scheduled to take place on the 20th.

Samsung Electronics explained, "This stock cancellation decision is related to the cancellation of treasury shares acquired based on the board resolution on November 15, 2024," adding, "The treasury shares acquired within the scope of distributable profits will be canceled by board resolution, which will reduce the number of shares but will not decrease the capital stock."

Along with this, it announced plans to acquire 48,149,247 common shares and 6,636,988 preferred shares. The expected acquisition amount is approximately 2.6964 trillion KRW for common shares and 303.6 billion KRW for preferred shares. The expected acquisition period is from the 19th of this month to May 16.

According to the board resolution, about 500 billion KRW will be acquired for stock-based compensation (RSA) such as bonuses for executives and employees. The remaining approximately 2.5 trillion KRW will be secured for purposes such as stock price stabilization and enhancing shareholder value.

The timing of the disposal of treasury shares for employee stock-based compensation and the actual number of shares to be disposed of will be resolved and announced by the board in the future.