[Formosa Pharmaceuticals] Resolution at the 115th Annual General Shareholders' Meeting to Lift Non-Compete Restrictions for Directors (including Independent Directors) (Correction of Fiscal Year)
At the annual shareholders' meeting on May 25, 115, Formosa Pharmaceuticals approved the lifting of non-compete restrictions for Director Ma Hai-Yi and Independent Director Lo Li-Chu, with a 98.72% approval rate.
📋 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 19:29 (11h 29m after Collected)
1. Date of Shareholders' Meeting Resolution: 115/05/25
2. Name and Title of the Director Permitted to Engage in Competitive Activities:
Director: Ma Hai-Yi
Independent Director: Lo Li-Chu
3. Items Permitted for Competitive Activities:
Director: Ma Hai-Yi
Permitted Item: Independent Director at Acepodia Inc. (Cayman Islands)
Independent Director: Lo Li-Chu
Permitted Item: Independent Director at Anbang Biopharma Co., Ltd.
4. Period Permitted for Competitive Activities: During their tenure as directors of the Company
5. Resolution Status (Voting result according to Article 209 of the Company Act):
Chairman called for a vote. Voting result: The total voting rights of shareholders present was 85,723,637. Votes in favor were 84,632,526, votes against were 295,624, invalid votes were 0, abstentions and non-votes were 795,487. Votes in favor accounted for 98.72% of the total voting rights present; the proposal was passed as originally planned.
6. Name and Title of the Director for competitive activities belonging to businesses in the Mainland China area:
(If not a business in the Mainland China area, please input "Not Applicable"): Not Applicable
7. Name of the company in the Mainland China area and the position held: Not Applicable
8. Address of the business in the Mainland China area: Not Applicable
9. Business items of the business in the Mainland China area: Not Applicable
10. Impact on the company's financial and business operations: Not Applicable
11. Amount and shareholding percentage if the director is investing in the Mainland China area business: Not Applicable
12. Other items to be stated: Not Applicable
2. Name and Title of the Director Permitted to Engage in Competitive Activities:
Director: Ma Hai-Yi
Independent Director: Lo Li-Chu
3. Items Permitted for Competitive Activities:
Director: Ma Hai-Yi
Permitted Item: Independent Director at Acepodia Inc. (Cayman Islands)
Independent Director: Lo Li-Chu
Permitted Item: Independent Director at Anbang Biopharma Co., Ltd.
4. Period Permitted for Competitive Activities: During their tenure as directors of the Company
5. Resolution Status (Voting result according to Article 209 of the Company Act):
Chairman called for a vote. Voting result: The total voting rights of shareholders present was 85,723,637. Votes in favor were 84,632,526, votes against were 295,624, invalid votes were 0, abstentions and non-votes were 795,487. Votes in favor accounted for 98.72% of the total voting rights present; the proposal was passed as originally planned.
6. Name and Title of the Director for competitive activities belonging to businesses in the Mainland China area:
(If not a business in the Mainland China area, please input "Not Applicable"): Not Applicable
7. Name of the company in the Mainland China area and the position held: Not Applicable
8. Address of the business in the Mainland China area: Not Applicable
9. Business items of the business in the Mainland China area: Not Applicable
10. Impact on the company's financial and business operations: Not Applicable
11. Amount and shareholding percentage if the director is investing in the Mainland China area business: Not Applicable
12. Other items to be stated: Not Applicable
FAQ
Why did Formosa Pharmaceuticals lift the non-compete restrictions?
Directors Ma Hai-Yi and Lo Li-Chu were required to take on independent director roles at other firms, necessitating the formal lifting of non-compete restrictions.
What was the approval rate for the resolution?
The resolution was passed with 98.72% of the voting rights present at the shareholders' meeting in favor.
Will these appointments affect the company's business?
The disclosure indicates 'not applicable' regarding the impact on the company's finance and business operations.