Director/Supervisor Election and Ongoing Business Transformation Resolved at Ta Ya AGM

2015/06/11

       Ta Ya held its 2015 annual general meeting and director/supervisor election today (the 11th) at Guyanmiao headquarter. All five directors, three independent directors and two supervisors were successfully re-elected. Chairman Shen Shang-Hung said: after 60 years, Ta Ya is no longer simply a cable manufacturer. However, given the fact that business transformation is a long process, the company hopes that shareholders may appreciate the amount of effort employees have committed themselves to and continue their support to the company.

       Chairman Shen was present at the annual general meeting along with heads of business groups and presidents of affiliated enterprises. Chairman Shen said in his speech that the business environment had not been kind to the company last year, as work orders from Taiwan Power Company had decreased while competition from Chinese magnet wire producers remained. Although Vietnam Business Group continued to contribute stable profits, new bonding wires developed by Copper and New Business Group and Cuprime's investment in PCB copper powder production all require the parent company's continuous support. Ta Ya concluded after-tax net income of NT$20.45 million and earnings per share (EPS) of NT$0.04 for the previous year, and no dividend will be paid.

       The electronic voting and case-by-case resolution voting systems were adopted in last year's shareholder meeting, and remained in the current year for best protection of shareholders' interest. Director and supervisor elections also progressed using a nomination system to give shareholders upfront knowledge about the candidates that are voting for. Election result: all five directors, three independent directors and two supervisors were successfully re-elected.

       When asked about the company's future business directions, Chairman Shen said: "Ta Ya employees have always been pragmatic and meticulous about their work. In the future, we aim not only to do the right thing, but be in the right industry as well." Throughout the rest of the year, the company has made plans to increase shareholding in Sun Ba Power Corp., bid for solar power plant tenders, and launch new construction project through its Constructions Business Group. Meanwhile, the company is considering the option to merge enamel wire factories in China. Ta Ya is currently in a state of transition after 60 years; the company would like its shareholders to continue their support.