Why is it necessary to waive non-compete clauses?

Under Article 209 of the Company Act, it ensures that when directors engage in activities that may compete with the company, they do so legally with the consent of shareholders to manage potential conflicts of interest.

How does this affect investors?

There is no direct financial impact, but it serves as a governance indicator showing that the company is following proper compliance procedures.

Is waiving non-compete clauses common?

Yes, it is a standard governance procedure for listed and public companies in Taiwan to authorize the concurrent roles or investment activities of directors.

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[Bonraybio] Announcement of Shareholder Meeting Resolution to Waive Non-Compete Restrictions for Directors and Representatives

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Bonraybio announced that at its general shareholder meeting on May 20, 115, it approved the waiver of non-compete restrictions for director Tsai Hsiu-chuan, and independent directors Wang Yu-hsiang and Chou Tien-tai.

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Frequently Asked Questions

Q: Why is it necessary to waive non-compete clauses?: A: Under Article 209 of the Company Act, it ensures that when directors engage in activities that may compete with the company, they do so legally with the consent of shareholders to manage potential conflicts of interest.
Q: How does this affect investors?: A: There is no direct financial impact, but it serves as a governance indicator showing that the company is following proper compliance procedures.
Q: Is waiving non-compete clauses common?: A: Yes, it is a standard governance procedure for listed and public companies in Taiwan to authorize the concurrent roles or investment activities of directors.