Announces Board of Directors resolved to release Directors from non-competition restrictions
2020-02-04
1.Date of the board of directors resolution:2020/02/04
2.Name and title of the managerial officer with permission to engage in
competitive conduct:Simon Huang, Chairman of WPG Holdings Limited
3.Items of competitive conduct in which the officer is permitted to engage:
Director of Phoenix Innovation Investment Cooperation
4.Period of permission to engage in the competitive conduct:
During the term of being a director of the company
5.Circumstances of the resolution (please describe the results of the voting
under Article 32 of the Company Act):Except the director Simon Huang didn’t
vote pursuant to the principle of avoidance of conflicts of interest, other
presenting directors have approved of the proposal unanimously.
6.If the permitted competitive conduct is business of a mainland China area
enterprise, the name and title of the managerial officer (if it is not
business of a mainland China area enterprise, please enter ”not applicable”
below):N/A
7.Company name of the mainland China area enterprise and the officer's
position in the enterprise:N/A
8.Address of the mainland China area enterprise:N/A
9.Business items of the mainland China area enterprise:N/A
10.Degree of effect on the Company's finances and business:N/A
11.If the managerial officer has invested in the mainland China area
enterprise, the monetary amount of the officer's investment and the
officer's shareholding ratio:N/A
12.Any other matters that need to be specified:The proposal has been passed
by the board of directors, and will submit to the the shareholders' meeting
for approval.