[Far Eastern Dept.] Announcement of the Lifting of Non-Compete Restrictions for Directors by Subsidiary Pacific Sogo Department Stores Co., Ltd.
AI Summary (NQ-processed)
Far Eastern Department Stores (Far Eastern Dept.) announced that its subsidiary, Pacific Sogo Department Stores Co., Ltd., passed a resolution at its shareholders' meeting to lift the non-compete restrictions for four directors: Mr. Hsu Shu-tung, Ms. Huang Ching-wen, Ms. Ching井, and Mr. Tsai Min-hsiung. This lifting allows them to engage in business activities with companies that have the same or similar business scope as Pacific Sogo Department Stores during their tenure as directors. The resolution was approved unanimously in accordance with Article 209 of the Company Act. The announcement states that this measure will have no impact on Far Eastern Dept.'s financial or business operations.
AI Analysis
Frequently Asked Questions
Q: Why were the non-compete obligations for Pacific Sogo Department Stores' directors lifted?
A: The lifting was approved unanimously at a shareholders' meeting, based on Article 209 of the Company Act.
Q: Who are the directors whose non-compete obligations have been lifted?
A: The four directors are Hsu Shu-tung, Huang Ching-wen, Ching井, and Tsai Min-hsiung.
Q: What kind of business activities are permitted under the lifted non-compete clause?
A: Competition is permitted in companies with the same or similar business scope as Pacific Sogo Department Stores.
Q: What is the impact of this non-compete waiver on Far Eastern Department Stores' finances and operations?
A: According to the announcement, the waiver is stated to have no impact on Far Eastern Department Stores' financial or business operations.
Q: When was this decision made?
A: The resolution date of the shareholders' meeting was June 9, 2026 (ROC Year 115).