Lianchao Industrial Announces Shareholder Approval to Lift Director's Non-Compete Restriction
Key facts
- Lianchao Industrial Announces Shareholder Approval to Lift Director's Non-Compete Restriction
- Lianchao Industrial Co., Ltd., a key subsidiary of Harmony Chemical (1709), announced that its 2026 annual general meeting approved lifting the non-compete restriction for director Mr. Zhao Heng-De, allowing him to engage in competing business activities during his term.
- Source: PR Times
- Date: June 25, 2026
Direct answer
Lianchao Industrial Co., Ltd., a key subsidiary of Harmony Chemical (1709), announced that its 2026 annual general meeting approved lifting the non-compete restriction for director Mr. Zhao Heng-De, allowing him to engage in competing business activities during his term.
- Citation
- Lianchao Industrial Announces Shareholder Approval to Lift Director's Non-Compete Restriction (June 25, 2026), PR Times
- Source
- PR Times
- Date
- June 25, 2026
Lianchao Industrial Co., Ltd., a key subsidiary of Harmony Chemical (1709), announced that its 2026 annual general meeting approved lifting the non-compete restriction for director Mr. Zhao Heng-De, allowing him to engage in competing business activities during his term.
📋 Article Processing Timeline
- 📰 Published: June 25, 2026 at 09:00
- 🔍 Collected: June 25, 2026 at 16:59 (7h 59m after Published)
- 🤖 AI Analyzed: June 25, 2026 at 18:50 (1h 51m after Collected)
Release Date: June 25, 2026
Statement Date: June 24, 2026
Statement Time: 15:30:54
Company Code: 1709
Company Name: Harmony Chemical
Subject: Announcement by Lianchao Industrial Co., Ltd., a significant subsidiary, regarding the resolution passed at the 2026 Annual General Meeting to lift the non-compete restriction for a director.
Applicable Clause: Item 21
Factual Date: June 24, 2026
Details:
1. Shareholder Meeting Resolution Date: 06/24/2026
2. Name and Title of Director Permitted to Engage in Competitive Activities: Mr. Zhao Heng-De, Representative of Harmony Chemical Industrial Co., Ltd.
3. Permitted Competitive Activities: Investment in or operation of businesses with the same scope as the company’s operations
4. Duration of Permitted Competitive Activities: During the period of serving as a director of the company
5. Resolution Outcome (Voting Results per Article 209 of the Company Act): The proposal was approved, with over two-thirds of issued shares represented and more than half of the voting rights of attending shareholders in favor.
6. Name and Title of Director if the Permitted Competitive Activity Involves Businesses in Mainland China (Enter 'Not Applicable' if not): Not Applicable
7. Name of Mainland China Company and Position Held: Not Applicable
8. Address of Mainland China Company: Not Applicable
9. Business Scope of Mainland China Company: Not Applicable
10. Impact on the Company's Financial and Business Operations: None
11. If the Director Invests in a Mainland China Business, Investment Amount and Shareholding Ratio: Not Applicable
12. Other Matters to be Disclosed: None
Statement Date: June 24, 2026
Statement Time: 15:30:54
Company Code: 1709
Company Name: Harmony Chemical
Subject: Announcement by Lianchao Industrial Co., Ltd., a significant subsidiary, regarding the resolution passed at the 2026 Annual General Meeting to lift the non-compete restriction for a director.
Applicable Clause: Item 21
Factual Date: June 24, 2026
Details:
1. Shareholder Meeting Resolution Date: 06/24/2026
2. Name and Title of Director Permitted to Engage in Competitive Activities: Mr. Zhao Heng-De, Representative of Harmony Chemical Industrial Co., Ltd.
3. Permitted Competitive Activities: Investment in or operation of businesses with the same scope as the company’s operations
4. Duration of Permitted Competitive Activities: During the period of serving as a director of the company
5. Resolution Outcome (Voting Results per Article 209 of the Company Act): The proposal was approved, with over two-thirds of issued shares represented and more than half of the voting rights of attending shareholders in favor.
6. Name and Title of Director if the Permitted Competitive Activity Involves Businesses in Mainland China (Enter 'Not Applicable' if not): Not Applicable
7. Name of Mainland China Company and Position Held: Not Applicable
8. Address of Mainland China Company: Not Applicable
9. Business Scope of Mainland China Company: Not Applicable
10. Impact on the Company's Financial and Business Operations: None
11. If the Director Invests in a Mainland China Business, Investment Amount and Shareholding Ratio: Not Applicable
12. Other Matters to be Disclosed: None
FAQ
Who is permitted to engage in competitive activities?
Mr. Zhao Heng-De, representative of Harmony Chemical, is allowed during his term as director of Lianchao Industrial.
Is this decision compliant with corporate law?
Yes, it follows Article 209 of Taiwan's Company Act and was approved by the required shareholder vote.
Does this apply to other directors as well?
No, this resolution specifically applies only to Mr. Zhao and not to other board members.