Non-Compete Restrictions Lifted for 11th-Term Directors at Securities Investment Trust Unit
Original: 代子公司中國信託證券投資信託(股)公司公告 解除第十一屆董事競業禁止之限制
Summary
CTBC Financial announced on behalf of its subsidiary, CTBC Securities Investment Trust Co., Ltd., that the non-compete restrictions previously imposed on directors serving in the 11th-term board have been released. This is a routine governance action, typically taken when a board term concludes and the legal obligation for directors to refrain from competing business activities is formally lifted. Full body available on MOPS.
Full Translation
On behalf of subsidiary CTBC Securities Investment Trust Co., Ltd. (中國信託證券投資信託股份有限公司), CTBC Financial Holding Co. (中信金控, 2891) announces the release of non-compete restrictions imposed on directors of the 11th-term board. Under Taiwan's Company Act and the subsidiary's articles of incorporation, directors are typically subject to non-compete clauses during their tenure; lifting these restrictions signals the conclusion of the 11th board term and formally permits those directors to engage in activities that might otherwise have conflicted with the company's business scope. [Body not available — subject line only. See MOPS for full announcement.]