[X-Legend] Announcement on the Resolution of the 115th Annual General Meeting of Shareholders Approving the Lifting of Non-Compete Restrictions for Directors
X-Legend Entertainment held its 115th Annual General Meeting of Shareholders and approved the waiver of non-compete obligations for certain directors. Director Zhang Feng-qi and Independent Director Pan Jian-wei are authorized to invest in and hold directorships at other companies that may have overlapping business operations.
📋 Article Processing Timeline
- 📰 Published: May 22, 2026 at 09:00
- 🔍 Collected: May 23, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 24, 2026 at 07:15 (23h 15m after Collected)
1. Date of the shareholder resolution: 2026/05/22
2. Names and titles of directors permitted to engage in competitive activities: Zhang Feng-qi (Director), Pan Jian-wei (Independent Director)
3. Scope of competitive activities permitted: Investing in and serving as a director of other companies with business scopes identical or similar to those of the company.
4. Duration of authorization: For the duration of their tenure as directors of the company.
5. Status of the resolution (Voting results according to Article 209 of the Company Act): Approved by more than two-thirds of the shareholders present representing the total issued shares, with more than half of the voting rights of the attending shareholders in favor of lifting the non-compete restrictions on the above-mentioned directors.
6. Competitive activities related to businesses in mainland China: Not applicable.
7. Name and position in the mainland Chinese business: Not applicable.
8. Address of the mainland Chinese business: Not applicable.
9. Business items of the mainland Chinese business: Not applicable.
10. Impact on the company's financial operations: Not applicable.
11. Investment amount and shareholding ratio of directors in the mainland Chinese business: Not applicable.
12. Other items to be stated: None.
2. Names and titles of directors permitted to engage in competitive activities: Zhang Feng-qi (Director), Pan Jian-wei (Independent Director)
3. Scope of competitive activities permitted: Investing in and serving as a director of other companies with business scopes identical or similar to those of the company.
4. Duration of authorization: For the duration of their tenure as directors of the company.
5. Status of the resolution (Voting results according to Article 209 of the Company Act): Approved by more than two-thirds of the shareholders present representing the total issued shares, with more than half of the voting rights of the attending shareholders in favor of lifting the non-compete restrictions on the above-mentioned directors.
6. Competitive activities related to businesses in mainland China: Not applicable.
7. Name and position in the mainland Chinese business: Not applicable.
8. Address of the mainland Chinese business: Not applicable.
9. Business items of the mainland Chinese business: Not applicable.
10. Impact on the company's financial operations: Not applicable.
11. Investment amount and shareholding ratio of directors in the mainland Chinese business: Not applicable.
12. Other items to be stated: None.
FAQ
Why is it necessary to lift the non-compete restriction?
It is a legal authorization process under the Company Act to prevent conflicts of interest when directors hold concurrent positions or invest in other companies that may be in competition.
Are all directors included in the waiver?
No, this resolution specifically targets Director Zhang Feng-qi and Independent Director Pan Jian-wei.
How long is this authorization valid?
It is valid for the duration of their tenure as directors at X-Legend Entertainment.