Board Resolves to Lift Non-Compete Restrictions on Company Managers
Original: 公告本公司董事會決議解除經理人競業禁止之限制
Summary
UMC's board of directors passed a resolution to release certain managers from their non-compete obligations, which under Taiwan's Company Act ordinarily bar executives from engaging in competing business activities without explicit board approval. This type of waiver is typically granted when an executive is departing or being permitted to take on outside roles in related industries. Investors should consult the full filing on MOPS to identify which individuals are affected and the scope of the exemption.
Full Translation
Announcement that the Company's Board of Directors resolved to lift the non-compete restrictions applicable to company managers. Under Article 32 of the Taiwan Company Act, managers (經理人) are statutorily prohibited from conducting competitive business on their own account or on behalf of a third party without the consent of the board of directors. This resolution constitutes that consent, releasing the named manager(s) from said obligation. The identity of the affected individual(s), the effective date, and any conditions attached to the waiver are disclosed in the full announcement body. [Body not available — subject line only. See MOPS for full announcement.]