Wah Mao (5292) Approves Waiver of Non-Compete Restrictions for Director at Shareholder Meeting
Wah Mao (5292) announced that the shareholder meeting held on May 20 approved the waiver of non-compete restrictions for Director Chen Lun-ching with 95.42% in favor. This allows him to hold representative positions at Chuchin Investment and Chulun Investment.
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- 📰 Published: May 21, 2026 at 06:31
- 🔍 Collected: May 21, 2026 at 06:31 (0 min after Published)
- 🤖 AI Analyzed: May 21, 2026 at 07:44 (1h 12m after Collected)
Announcement Date: May 20, 115
Company Code: 5292
Company Name: Wah Mao
Subject: Announcement of shareholder meeting resolution to waive non-compete restrictions for new directors.
1. Date of shareholder meeting resolution: May 20, 115
2. Name and title of the director permitted to engage in competitive business: Director Chen Lun-ching
3. Items permitted for competitive business:
- Chairman, Chuchin Investment Co., Ltd.
- Chairman, Chulun Investment Co., Ltd.
4. Duration of permission: Same as the term of the 14th Board of Directors
5. Resolution status: Approved by vote, with 95.42% of the total voting rights of shareholders present in favor.
6. For competitive activities involving businesses in Mainland China: Not applicable.
7. Name and position held in Mainland China business: Not applicable.
8. Address of Mainland China business: Not applicable.
9. Business scope in Mainland China: Not applicable.
10. Impact on company's financial and business affairs: Not applicable.
11. Investment amount and shareholding ratio in Mainland China business: Not applicable.
12. Other items to be stated: None.
Company Code: 5292
Company Name: Wah Mao
Subject: Announcement of shareholder meeting resolution to waive non-compete restrictions for new directors.
1. Date of shareholder meeting resolution: May 20, 115
2. Name and title of the director permitted to engage in competitive business: Director Chen Lun-ching
3. Items permitted for competitive business:
- Chairman, Chuchin Investment Co., Ltd.
- Chairman, Chulun Investment Co., Ltd.
4. Duration of permission: Same as the term of the 14th Board of Directors
5. Resolution status: Approved by vote, with 95.42% of the total voting rights of shareholders present in favor.
6. For competitive activities involving businesses in Mainland China: Not applicable.
7. Name and position held in Mainland China business: Not applicable.
8. Address of Mainland China business: Not applicable.
9. Business scope in Mainland China: Not applicable.
10. Impact on company's financial and business affairs: Not applicable.
11. Investment amount and shareholding ratio in Mainland China business: Not applicable.
12. Other items to be stated: None.
FAQ
Why is the director's non-compete clause waived?
It is to legally permit the director to hold representative positions in other companies without violating non-compete regulations.
What is the impact on shareholders?
The decision was approved following proper legal procedures, ensuring transparency.
Does this affect business in Mainland China?
No, the disclosure explicitly states that this is not applicable to business in Mainland China.