[UltraGen-KY] Announcement Regarding Board Resolution to Waive Non-Compete Restrictions for Directors
UltraGen-KY announced that the Annual General Meeting held on June 4, 2026, approved the waiver of non-compete restrictions for seven directors, allowing them to invest in or manage companies with similar business scope while serving on the board.
📋 Article Processing Timeline
- 📰 Published: June 4, 2026 at 09:00
- 🔍 Collected: June 5, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: June 7, 2026 at 05:51 (45h 50m after Collected)
1. Date of Shareholders' Meeting: June 4, 2026
2. Directors permitted to engage in competitive behavior:
Corporate Director: Bora Pharmaceuticals (Representative: Mr. Sheng Pao-Hsi)
Corporate Director: Delos Capital Fund, LP (Representative: Mr. Chen Lin-Cheng)
Corporate Director: Peng-Lin Investment Co., Ltd. (Representative: Mr. Chen Chih-Chuan)
Corporate Director: Allen Chao and Lee Hwa Chao Family Trust (Representative: Dr. Allen Chao)
Independent Director: Mr. Wang Tai-Chang
Independent Director: Ms. Chang Yen-Shu
Independent Director: Mr. Tseng Chih-Yang
3. Items permitted: Investing in or managing companies with the same or similar business scope as the Company.
4. Period of permission: During their term of office as directors of the Company.
5. Voting results (pursuant to Article 209 of the Company Act): Approved at the June 4, 2026 Annual General Meeting with votes exceeding the statutory threshold.
6. Directors engaged in mainland China business: Not applicable.
7. Other matters: None.
2. Directors permitted to engage in competitive behavior:
Corporate Director: Bora Pharmaceuticals (Representative: Mr. Sheng Pao-Hsi)
Corporate Director: Delos Capital Fund, LP (Representative: Mr. Chen Lin-Cheng)
Corporate Director: Peng-Lin Investment Co., Ltd. (Representative: Mr. Chen Chih-Chuan)
Corporate Director: Allen Chao and Lee Hwa Chao Family Trust (Representative: Dr. Allen Chao)
Independent Director: Mr. Wang Tai-Chang
Independent Director: Ms. Chang Yen-Shu
Independent Director: Mr. Tseng Chih-Yang
3. Items permitted: Investing in or managing companies with the same or similar business scope as the Company.
4. Period of permission: During their term of office as directors of the Company.
5. Voting results (pursuant to Article 209 of the Company Act): Approved at the June 4, 2026 Annual General Meeting with votes exceeding the statutory threshold.
6. Directors engaged in mainland China business: Not applicable.
7. Other matters: None.
FAQ
Why is the board lifting the non-compete restrictions?
To leverage broader expertise and improve synergy by allowing directors to hold positions in similar or related business entities.
Who approved this decision?
The resolution was passed at the Annual General Meeting on June 4th with majority shareholder approval.
Does this include businesses in mainland China?
No, the release states that non-compete exemptions for businesses in mainland China are not applicable.