[World Gym KY] Annual Shareholders' Meeting approves waiver of non-compete restriction for 3rd term directors
World Gym KY held its annual shareholders' meeting on May 25, 2026, and approved the waiver of non-compete restrictions for nine of its 3rd-term directors. This decision allows directors to hold concurrent related positions during their tenure, ensuring management flexibility. The company stated that this will have no material impact on its financial or operational status.
📋 Article Processing Timeline
- 📰 Published: May 25, 2026 at 09:00
- 🔍 Collected: May 26, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 26, 2026 at 18:54 (10h 54m after Collected)
1. Date of Shareholders' Meeting resolution: May 25, 2026
2. Names and titles of directors permitted to engage in competitive activities:
John Cowgill (Director), Michael A. Sancipria (Director), Lionel de Saint-Exupery (Director), Sanjay Sachdeva (Director), Wu Chung-Yi (Director), Hsiao Nai-Chang (Independent Director), Chen Hui-Ming (Independent Director), Lin Hsin-Yin (Independent Director), Chang Chih-Wei (Independent Director)
3. Scope of permitted competitive activities: Holding related positions within the scope of the company's business operations.
4. Period of permitted activities: During the term of their directorship.
5. Status of resolution (pursuant to Article 209 of the Company Act): Approved as proposed with voting results exceeding the statutory threshold.
6. Mainland China business engagement status: Not applicable.
7. Mainland China company name and title: Not applicable.
8. Mainland China business address: Not applicable.
9. Mainland China business scope: Not applicable.
10. Impact on the company's financial and business operations: No material impact.
11. Investment amount and shareholding ratio in Mainland China business: Not applicable.
12. Other items to disclose: None.
2. Names and titles of directors permitted to engage in competitive activities:
John Cowgill (Director), Michael A. Sancipria (Director), Lionel de Saint-Exupery (Director), Sanjay Sachdeva (Director), Wu Chung-Yi (Director), Hsiao Nai-Chang (Independent Director), Chen Hui-Ming (Independent Director), Lin Hsin-Yin (Independent Director), Chang Chih-Wei (Independent Director)
3. Scope of permitted competitive activities: Holding related positions within the scope of the company's business operations.
4. Period of permitted activities: During the term of their directorship.
5. Status of resolution (pursuant to Article 209 of the Company Act): Approved as proposed with voting results exceeding the statutory threshold.
6. Mainland China business engagement status: Not applicable.
7. Mainland China company name and title: Not applicable.
8. Mainland China business address: Not applicable.
9. Mainland China business scope: Not applicable.
10. Impact on the company's financial and business operations: No material impact.
11. Investment amount and shareholding ratio in Mainland China business: Not applicable.
12. Other items to disclose: None.
FAQ
Why was the non-compete restriction waived for directors?
To allow directors to hold concurrent positions, thereby building an efficient and flexible management structure for the group.
Does this decision pose any financial risks?
The company has stated that there is no material impact on its finances or operations.
How many directors are covered by this decision?
A total of nine directors, including John Cowgill (柯約翰).