5234 Eternal Materials: Shareholders Approve Waiver of Non-Compete Clauses for Directors
Eternal Materials (5234) announced that its annual general meeting held on May 22, 2026, approved the waiver of non-compete restrictions for newly appointed directors and their representatives, including corporate and independent directors.
📋 Article Processing Timeline
- 📰 Published: May 23, 2026 at 06:31
- 🔍 Collected: May 23, 2026 at 06:31 (0 min after Published)
- 🤖 AI Analyzed: May 31, 2026 at 21:03 (206h 31m after Collected)
On May 22, 2026, Eternal Materials held its annual general meeting and passed a resolution to waive non-compete restrictions for its newly appointed directors and their representatives. The directors granted this waiver include representatives from Eternal Materials Industry and Kangli Investment, as well as independent directors Lin Hsin-wu, Cheng Wei-shun, and Tsai Chih-chun. The scope of permitted competitive activities includes their concurrent roles as directors in other entities. This resolution was passed in accordance with Article 209 of the Company Act, with over two-thirds of shareholders present and a majority vote in favor. Regarding Lin Ting-li, representative of Kangli Investment, his concurrent role at Jingzhi Electronics (Xiamen) Co., Ltd. in mainland China was disclosed. The company stated that this waiver has no material impact on its financial or operational performance.
FAQ
What is the non-compete clause in Taiwan's Company Act?
It restricts directors from engaging in business activities that compete with the company's scope of business unless approved by shareholders.