Samsung C&T appoints Zenith Lee and Jeong Byeong-seok as outside directors... cancels 2.8 million treasury shares
56th General Meeting of Shareholders Held on the 20th
[Asia Economy Reporter Kim Ji-hee] Samsung C&T announced on the 20th that at the 56th General Meeting of Shareholders, it continued shareholder-friendly policies such as treasury stock cancellation and strengthened the board's diversity and expertise by appointing new outside directors.
At the general meeting held at the Global Engineering Center in Gangdong-gu, Seoul, all agenda items, including approval of financial statements and consolidated financial statements, cancellation of treasury stock, appointment of directors, appointment of audit committee members, and approval of director remuneration limits, were passed.
Samsung C&T decided to cancel 2.8 million shares of treasury stock it holds on the 24th of next month to enhance shareholder value. It established a three-year dividend policy to gradually increase dividends within the range of 60-70% of dividend income annually, reflecting management conditions, using stable dividend income from affiliates such as Samsung Electronics as the source.
Additionally, Samsung C&T newly appointed three outside directors: Janice Lee, an accounting and finance expert; Jung Byung-seok, an employment and labor policy expert; and Lee Sang-seung, an expert in fair trade and corporate governance.
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Meanwhile, Samsung C&T implemented various preventive measures at the general meeting in preparation for the COVID-19 pandemic. First, a thermal imaging camera was installed at the entrance of the meeting hall, and wearing masks was made mandatory upon entry. Temperatures were measured with a contactless thermometer, and attendees were required to fill out a health questionnaire before proceeding with shareholder verification. A transparent shield was installed in front of the podium microphone inside the meeting hall, and the spacing between shareholder seats was widened.
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