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Regarding the controversial issues related to TATUNG CO. (Code:2371) 2020 Annual General Meeting

The Securities and Futures Investors Protection Center (“SFIPC”) has designated people to attend the AGM of Tatung Co. Regarding the issues that the company limited the number of representatives attended on behalf of a single juristic person shareholder, failed to provide the shareholders with full rights to express their opinions and denied the shareholders’ voting rights arbitrarily, the SFIPC has raised the objections since the procedure for convening a shareholders' meeting and the method of adopting resolutions at the meeting might be in violation of law.

Tatung Co. denied the voting rights for certain shares under concerns arbitrarily without confirming with the authorities concerned since the processing of securities matters are done the company itself, resulting in a big success for the company-side in the election of new directors. In addition, the questions raised in the AGM by the shareholders were not responded by the company. This case is indeed violation of principle of the corporate governance and the SFIPC expressed much regret and severely condemned for this situation.

The SFIPC will continue to watch closely for this case and evaluate carefully whether to issue the suit regarding the null and void of the resolution or annulment of such resolution of the shareholders’ meeting.


Update Date:2020/09/02 11:30