Cathay Life Insurance Grants Managers Permission to Engage in Competing Business
Original: 代子公司國泰人壽保險股份有限公司公告許可經理人 從事競業行為
Summary
Cathay Financial (2882) has filed this disclosure on behalf of its subsidiary Cathay Life Insurance Co., Ltd., announcing that certain managers have been formally approved to engage in activities that would otherwise constitute competing business conduct. Under Taiwan's Company Act, managers are generally prohibited from engaging in the same lines of business as their employer without explicit corporate approval; this filing documents that such permission has been granted. The disclosure is administrative in nature and is routine for regulated financial subsidiaries managing overlapping board or executive roles. Full body available on MOPS.
Full Translation
On behalf of its subsidiary Cathay Life Insurance Co., Ltd. (國泰人壽保險股份有限公司), Cathay Financial Holdings Co., Ltd. hereby announces that approval has been granted permitting one or more managers (經理人) to engage in competing business activities (競業行為). Under Article 32 of Taiwan's Company Act, managers are prohibited from engaging in the same type of business as the company without the company's consent; this announcement confirms that such consent has been formally resolved and disclosed in compliance with TWSE material information reporting requirements. The named manager(s) and the specific competing activities approved will be detailed in the full announcement body. [Body not available — subject line only. See MOPS for full announcement.]