Punishment of Administrative Fine imposed on the Responsible Person of YFC-BonEagle Electric Co., Ltd. (OTC Company, Stock Code 6220)
2017-08-02
1. Date the punishment was imposed: August 2, 2017
2. Recipient of the punishment: Yeh, ○○, Responsible person of the conduct by YFC-BonEagle Electric Co., Ltd.
3. Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Facts of the violation and reasons: On November 15, 2016, YFC-BonEagle Electric Co., Ltd. resolved in the board meeting to acquire the shares of MONOPRICE HOLDING, Inc. However, the investment value has exceeded the limit specified in the Company’s procedures for the acquisition and disposal of assets effective at the time of the conduct. It is therefore determined as a violation against paragraph 1, Article 36 of Securities and Exchange Act and paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
5. The disciplinary action: The responsible person of the conduct by the Company is charged with a punishment of an administrative fine of NTD240,000 pursuant to sub-section 7, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact Office: Chang, Yi-hsin, Section Chief, Securities and Futures Bureau Corporate Finance Division
Contact Numbers: 2774-7409
Please send your inquiry to: http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
2. Recipient of the punishment: Yeh, ○○, Responsible person of the conduct by YFC-BonEagle Electric Co., Ltd.
3. Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Facts of the violation and reasons: On November 15, 2016, YFC-BonEagle Electric Co., Ltd. resolved in the board meeting to acquire the shares of MONOPRICE HOLDING, Inc. However, the investment value has exceeded the limit specified in the Company’s procedures for the acquisition and disposal of assets effective at the time of the conduct. It is therefore determined as a violation against paragraph 1, Article 36 of Securities and Exchange Act and paragraph 1, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
5. The disciplinary action: The responsible person of the conduct by the Company is charged with a punishment of an administrative fine of NTD240,000 pursuant to sub-section 7, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact Office: Chang, Yi-hsin, Section Chief, Securities and Futures Bureau Corporate Finance Division
Contact Numbers: 2774-7409
Please send your inquiry to: http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
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13293
Update：
2017-08-07