Taipei Prosecutors Search and Summon 9, Including Chang Kuo-hua; Evergreen States Full Cooperation with Investigation

Taipei, July 6 (CNA) Chang Kuo-hua, the eldest son of the late Evergreen Group founder Chang Yung-fa, was accused of insider trading. Taipei District Prosecutors Office today searched and summoned Chang Kuo-hua and 8 others. Evergreen Marine Corporation stated that it will fully cooperate with the investigation by judicial authorities, and the company's operations are normal with no impact on its finances or business.

Evergreen Marine Corporation shareholder and lawyer Lin Wen-peng filed a complaint with the Taipei District Prosecutors Office on April 22, 113 (2024), accusing Chang Kuo-hua and Evergreen Director Ke Li-ching of violating the Securities Transaction Act by engaging in insider trading. The accusation is that they bought and sold Evergreen Marine Corporation stock before the public announcement of a major transaction involving Evergreen Air stock on August 14, 112 (2023).

Today, the Taipei District Prosecutors Office, under the command of investigators from the Taipei Investigation Bureau of the Ministry of Justice, executed search warrants issued by the court. Searches were conducted at the residences of Chang Kuo-hua, Chang Yung-fa's third son Chang Kuo-cheng, Ke Li-ching, and 10 other locations including Evergreen Marine Corporation, Evergreen International S.A. (Panama), and Evergreen International Co., Ltd. Chang Kuo-hua and 8 others were summoned for questioning. The case is being investigated as a violation of the Securities Transaction Act for insider trading.

Evergreen Marine Corporation stated that judicial authorities conducted searches at the company today, and the company fully cooperated with the investigation. Currently, all company operations are normal, with no impact on its finances or business.

Regarding this stock transaction, Chang Kuo-hua issued a statement in April 113 (2024) stating that the purchase of Evergreen Marine Corporation stock through a large block after-hours transaction on June 30, 112 (2023), the ex-dividend date, was driven by his passion for the shipping business and his intention to increase his holdings in Evergreen Marine Corporation. He had already decided to purchase Evergreen Marine Corporation stock through the centralized market on the ex-dividend trading day in 2023.

Chang Kuo-hua emphasized in his statement that he has not sold any shares and has no plans to sell them. The transaction was reported in accordance with the law, and there was absolutely no insider trading, nor any profit gained. He also expressed hope that the disputes among brothers would not implicate innocent parties and that rational communication would resume as soon as possible. (Editor: Lin Ke-lun) 1150706

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