What is a non-compete waiver?

It is a procedure where shareholders authorize directors to hold positions in other companies that may compete with the current company.

Why is this procedure required?

Under Article 209 of Taiwan's Company Act, directors must obtain shareholder approval before engaging in competitive activities.

The company stated there is no impact on its finances or operations.

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AIDC approved a non-compete waiver for five directors at its shareholder meeting. No impact on company finances or operations reported.

Q: What is a non-compete waiver?: A: It is a procedure where shareholders authorize directors to hold positions in other companies that may compete with the current company.
Q: Why is this procedure required?: A: Under Article 209 of Taiwan's Company Act, directors must obtain shareholder approval before engaging in competitive activities.
Q: Does this impact shareholders?: A: The company stated there is no impact on its finances or operations.