6505 Formosa Petrochemical: Resolution on Lifting Non-Compete Restrictions for Director
Formosa Petrochemical (6505) announced that its shareholders' meeting on May 26 approved the lifting of non-compete restrictions for director Wang Rui-yu, who serves as Chairman of National Petroleum Co., Ltd.
📋 Article Processing Timeline
- 📰 Published: May 27, 2026 at 06:31
- 🔍 Collected: May 27, 2026 at 06:31 (0 min after Published)
- 🤖 AI Analyzed: May 31, 2026 at 19:37 (109h 6m after Collected)
On May 26, 115, Formosa Petrochemical held its annual general meeting and resolved to lift the non-compete restrictions for director Wang Rui-yu. The permitted competitive activity is her role as Chairman of National Petroleum Co., Ltd. The resolution was passed with the attendance of shareholders representing more than two-thirds of the total issued shares and the consent of a majority of the voting rights present. The authorization is effective from today until the end of her term. This matter does not involve any business operations in mainland China.
FAQ
What is non-compete restriction?
A regulation preventing directors from holding concurrent positions in competing businesses.