Far Glory Hospitality (2712) Announces Approval for Removal of Non-Compete Restrictions for New Directors
Far Glory Hospitality (2712) held its annual general meeting and approved the removal of non-compete restrictions for its newly appointed directors and their representatives. This measure aims to provide operational flexibility for board members to manage their roles within the group.
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## Announcement on the Removal of Non-Compete Restrictions by Far Glory Hospitality (2712)
Date: May 21, 2025 (Announcement Date: May 20, 2025)
Far Glory Hospitality (2712) announced that during its shareholder meeting held on May 20, 2025, the company approved the removal of non-compete restrictions for its new directors and their representatives.
### List of Directors and Representatives Approved for Non-Compete Waiver:
1. Far Glory International Investment Co., Ltd.
2. Far Glory International Investment Co., Ltd. Legal Representative: Director Wu Hsiang-Sheng
3. Far Glory International Investment Co., Ltd. Legal Representative: Director Rao Ming-Chang
4. Far East Construction Business Co., Ltd.
5. Far East Construction Business Co., Ltd. Legal Representative: Director Chen Mei-Ling
6. Far East Construction Business Co., Ltd. Legal Representative: Director Liu Ming-Fang
7. Independent Director: Su Cheng-Tien
8. Independent Director: Chou Yin-Chung
### Details of Approval:
- **Scope of Competitive Activities:** Companies with the same or similar business operations as the company.
- **Duration of Approval:** During the term of their office as directors of the company.
- **Resolution Status:** Passed as proposed following a vote.
Note: The competitive activities do not pertain to businesses in Mainland China; therefore, those clauses are marked as not applicable. There is no significant impact on the company's financial or operational standing.
Date: May 21, 2025 (Announcement Date: May 20, 2025)
Far Glory Hospitality (2712) announced that during its shareholder meeting held on May 20, 2025, the company approved the removal of non-compete restrictions for its new directors and their representatives.
### List of Directors and Representatives Approved for Non-Compete Waiver:
1. Far Glory International Investment Co., Ltd.
2. Far Glory International Investment Co., Ltd. Legal Representative: Director Wu Hsiang-Sheng
3. Far Glory International Investment Co., Ltd. Legal Representative: Director Rao Ming-Chang
4. Far East Construction Business Co., Ltd.
5. Far East Construction Business Co., Ltd. Legal Representative: Director Chen Mei-Ling
6. Far East Construction Business Co., Ltd. Legal Representative: Director Liu Ming-Fang
7. Independent Director: Su Cheng-Tien
8. Independent Director: Chou Yin-Chung
### Details of Approval:
- **Scope of Competitive Activities:** Companies with the same or similar business operations as the company.
- **Duration of Approval:** During the term of their office as directors of the company.
- **Resolution Status:** Passed as proposed following a vote.
Note: The competitive activities do not pertain to businesses in Mainland China; therefore, those clauses are marked as not applicable. There is no significant impact on the company's financial or operational standing.
FAQ
What is the non-compete removal for Far Glory Hospitality?
It is a legal procedure that allows directors to engage in similar business activities while serving on the board, subject to shareholder approval.
Why was this resolution passed?
To ensure board members can operate efficiently within the broader group structure.
Will this impact my investment?
It is a standard corporate governance procedure and is not expected to have a direct negative financial impact.