Ministry approves call to select new Tatung boardBy Angelica Oung / Staff reporterThe Ministry of Economic Affairs yesterday approved an application by some individual and institutional shareholders of Tatung Co (大同) to hold an extraordinary shareholders’ meeting to elect a new board of directors, a month after the ministry deemed Tatung’s June 30 shareholders’ meeting invalid and rejected registering the board directors elected at that meeting. Under Lin Kuo’s instructions, Tatung blocked several shareholders, who collectively hold a 53 percent stake in the company, from voting at the June 30 annual general meeting on accusations that they received funding from Chinese investors. As the existing board is not legally capable of calling a shareholders’ meeting, the ministry said it therefore approved the petition by some rebel shareholders to hold an extraordinary meeting by the end of November to elect a new board, she said. Some of the rebel shareholders in a joint statement thanked the authorities for approving their petition and vowed to hold a fair and open meeting soon. “All shareholders’ rights will be equally respected.

Source: Taipei Times August 12, 2020 15:56 UTC