Why is a non-compete waiver necessary?

According to the Company Act, directors must obtain shareholder approval before holding positions in companies with similar operations to prevent conflicts of interest.

What is the relationship between Portwell and Privet?

Portwell is a subsidiary of Privet Electronics, functioning as part of their group operation.

Is this a common procedure?

Yes, it is a standard legal procedure in Taiwan for directors to receive authorization when holding multiple roles across affiliated companies.

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[Privet] Subsidiary Portwell approved non-compete waiver for director at shareholder meeting

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Portwell, a subsidiary of Privet Electronics, held a shareholder meeting on May 19th, approving a non-compete waiver for director Guo Jian-Cheng to hold concurrent positions in related businesses in China.

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Frequently Asked Questions

Q: Why is a non-compete waiver necessary?: A: According to the Company Act, directors must obtain shareholder approval before holding positions in companies with similar operations to prevent conflicts of interest.
Q: What is the relationship between Portwell and Privet?: A: Portwell is a subsidiary of Privet Electronics, functioning as part of their group operation.
Q: Is this a common procedure?: A: Yes, it is a standard legal procedure in Taiwan for directors to receive authorization when holding multiple roles across affiliated companies.