M&A Strategy Committee

In order to strengthen our corporate governance and implement the strategic guidance function of the board of directors, the Company’s board of directors resolved to establish an M&A Strategy Committee in December 2020. According to the M&A Strategy Committee Charter, the main duties of the members of the M&A Strategy Committee are as follows:

The establishment of this M&A Strategy Committee will not affect the exercise of the functions and powers of the Company’s Audit Committee. Mergers and acquisitions that should be resolved by the Audit Committee in accordance with relevant laws and regulations should still be reviewed by the Audit Committee in accordance with applicable laws and regulations.

The M&A Strategy Committee consists of three directors. Currently, the members of the M&A Strategy Committee are chairman Ming-Kai Tsai, independent director Peng-Heng Chang, and independent director Ming-Tze Tang. Their professional competencies are listed in the following table:

M&A Strategy Committee Membership

Name Professional Competencies
Chairman Ming-Kai Tsai (Chairperson) with expertise in management and strategic planning
Peng-Heng Chang (Independent Director) with expertise in business management and organization planning
Ming-Tze Tang (Independent Director) with expertise in business/finance and strategic planning

Operation of M&A Strategy Committee

The committee has held one meetings in 2023 in accordance with M&A Strategy Committee Charter. All members of the committee attended the meeting with attendance rate of 100%.