"Stabilizing Financial Structure for Business Growth"
Samsung SDI, which is pursuing a paid-in capital increase worth 2 trillion won, announced that it will strive to protect shareholder rights at the regular general meeting of shareholders.
On the 19th, Samsung SDI's regular shareholders' meeting is being held at Eliena Hotel in Gangnam-gu, Seoul. Photo by Yonhap News
On the 19th, Samsung SDI held its 55th regular general meeting of shareholders at the Elliena Hotel in Gangnam-gu, Seoul, attended by shareholders, institutional investors, and key executives including President Choi Ju-seon and Kim Jong-sung, Vice President and Head of the Management Support Office.
Regarding the paid-in capital increase, Samsung SDI explained, "We decided on the paid-in capital increase because we judged that securing a sound financial structure is important to operate and grow the business stably," adding, "We will continuously innovate technology and establish global production capabilities to prepare for the upcoming super cycle."
Furthermore, it presented strengthening technological competitiveness, expanding sales and orders, and cost innovation as three major strategies, emphasizing, "We will achieve the vision of 'realizing a sustainable and eco-friendly future society through ultra-gap technological capabilities' and thereby enhance shareholder value."
Earlier, on the 14th, Samsung SDI held a board meeting and resolved to proceed with a paid-in capital increase to secure funds for facility investment. The number of shares for the paid-in capital increase, conducted through a rights offering followed by a general public offering of unsubscribed shares, is 11,821,000 shares, representing a 16.8% increase.
At the general meeting of shareholders, all four agenda items?approval of financial statements, appointment of inside director Choi Ju-seon, approval of the director remuneration limit, and partial amendment of the articles of incorporation?were passed.
Regarding the "Appointment of Inside Director Choi Ju-seon," President Choi Ju-seon was officially appointed as the new inside director. President Choi previously served as head of DRAM development at Samsung Electronics Memory Business Division, head of the Americas for the DS Division, and CEO of Samsung Display, and was appointed as President and CEO of Samsung SDI at the end of last year.
Regarding the "Approval of Director Remuneration Limit," the limit was set at 10 billion won. Samsung SDI explained, "Of the 12 billion won director remuneration limit last year, 5.5 billion won was executed, and considering the uncertain internal and external management conditions this year, the limit was reduced by 2 billion won compared to last year."
At the general meeting, Samsung SDI stated, "This year, we will complete the development of the next-generation premium prismatic battery P7 and launch the 46-pie (diameter 46mm) battery from the first quarter to strengthen competitiveness in the premium market," adding, "We will continue investing in the development of new products such as all-solid-state, 46-pie, and LFP batteries to strengthen technological leadership."
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