Date of Announcement: June 26, 115 Time of Announcement: 19:44:16 Company Code: 1795 Company Name: Mei-Shih Subject: Announcement on Behalf of Subsidiary Regarding the Implementation Status of the Remediation Plan for Excessive Fund Lending to Others Applicable Clause: Clause 51 Date of Event: June 26, 115
Details: 1. Date of Event: June 26, 115 2. Company Name: Alvogen Pharma US Inc. 3. Relationship with Company (Please enter 'Company' or 'Subsidiary'): Subsidiary 4. Cross-shareholding Ratio: Subsidiary fully owned (100%) by the Company 5. Reason for Occurrence: In accordance with the Financial Supervisory Commission's letter No. 1150335969, the Company is required to complete a remediation plan for its subsidiary's excessive fund lending by June 30, 115, and the Board of Directors must oversee the implementation. 6. Remedial Measures: (1) The U.S. subsidiary established an operational procedure for fund lending to others by the end of March 115, in compliance with the 'Regulations on Fund Lending and Endorsement Guarantees for Publicly Issued Companies'. (2) The Company revised its fund lending and endorsement guarantee procedures, approved during the 115 Annual General Meeting of Shareholders. (3) The Company reported the completion of remedial measures to the Audit and Risk Management Committee on June 25, 115, and to the Board of Directors on June 26, 115. 7. Other Matters to be Disclosed (If the entity involved in the event or resolution is a publicly issued company or above, this material information also qualifies as a matter under Article 7, Paragraph 9, Item 9 of the Enforcement Rules of the Securities and Exchange Act that significantly affects shareholders' rights or securities prices): None
FACT BOX
- Source: PR Times
- Category: News
- Organizations: Alvogen Pharma US Inc.