What is a non-compete waiver?

It is a procedure where shareholders approve directors to serve in other companies that might compete with the firm, in accordance with company law.

Why is this necessary?

It prevents potential conflicts of interest when directors hold key management roles in affiliated entities, ensuring the legality of their actions.

What is the impact of this decision?

It allows for faster and more aligned decision-making across the entire group.

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PCSC Shareholders Approve Waiver of Non-Compete Restrictions for Directors

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At its annual general meeting on May 20, President Chain Store Corp (PCSC, 2912) approved the removal of non-compete restrictions for nine directors, allowing them to concurrently hold roles in related entities within mainland China.

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Frequently Asked Questions

Q: What is a non-compete waiver?: A: It is a procedure where shareholders approve directors to serve in other companies that might compete with the firm, in accordance with company law.
Q: Why is this necessary?: A: It prevents potential conflicts of interest when directors hold key management roles in affiliated entities, ensuring the legality of their actions.
Q: What is the impact of this decision?: A: It allows for faster and more aligned decision-making across the entire group.