On June 26, 115, Kingcheng's shareholders approved permitting certain directors to engage in competitive businesses in real estate development, construction, and investment sectors. The resolution passed with 99.88% support, with minimal expected impact on company operations.
AI Analysis
Frequently Asked Questions
Q: What is the legal basis for Kingcheng's approval of competitive activities?
A: Under Article 209 of the Company Act, directors may engage in competitive businesses if approved by shareholders holding over two-thirds of voting rights.
Q: Which directors are permitted to engage in competitive businesses?
A: Tsai Tien-Tsuan, Tsai Hsueh Mei-Yun, Lee Shih-Hsiung, Chen Jin-Xing, and Tien Lai Investment Co., Ltd. are approved.
Q: How long is the competitive activity approval valid?
A: The approval is valid for the duration of the current directors' term of office.