INVALID MEETING: Minister of Economic Affairs Wang Mei-hua urged the firm’s two warring factions to step up and resolve the situation as soon as possible

Taipei Times
Date: Jul 10, 2020
By: Angelica Oung / Staff reporter

The Ministry of Economic Affairs (MOEA) yesterday rejected Tatung Co’s (大同) attempt to register new board directors, saying that the company has misapplied the law to block some shareholders from voting during its annual general meeting held on Tuesday last week.

“We don’t consider [the meeting] valid,” Minister of Economic Affairs Wang Mei-hua (王美花) told reporters, calling for the two warring factions to step up and resolve the situation as soon as possible.

“Either the firm can hold a legitimate shareholder’s meeting or the minority stakeholders can organize their own under Article 173 of the Company Act (公司法),” she said.

The ministry could intervene under Article 195 of the act if the situation remained in limbo, as the current directors’ terms are ending, but only as a last resort, she said.    [F\ULL  STORY]