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Administrative Sanction

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Punishment of Administrative Fine Imposed on the Responsible Person of Lumosa Therapeutics Co., Ltd. (OTC Company, 6535)

1.Date the punishment was imposed: October 16, 2018
2.Recipient of the punishment: Responsible person of corporate conduct by Lumosa Therapeutics Co., Ltd., Tsai, ○○.
3.Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, subparagraph 1, paragraph 1, Article 30, and paragraph 1, Article 33 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4.Facts of the violation and reason: Lumosa Therapeutics Co., Ltd. (hereinafter referred to as “Lumosa Company”) resolved in its board meeting on December 1, 2016 that its subsidiary Lumosa Therapeutics Co., Ltd. would sell 100% of the shareholding of Therapeutics Co., Limited (hereinafter referred to as “Lumosa Hong Kong”) to a related party Yu-Cheng Consulting Corp. The transaction amount equaled the net worth of Beijing Shundu Pharmaceutical Research Limited, subsidiary of Lumosa Hong Kong, approximately US$4,756,000 (or NT$ 154,253,000), which has exceeded 10% of Lumosa Company’s total asset in the third quarter of 2016. Nevertheless, Lumosa Company did not complete the publication and filing on behalf of its subsidiary within 2 days from the date of such occurrence and had therefore violated subparagraph 1, paragraph 1, Article 30, and paragraph 1, Article 33 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies
5.The disciplinary action: An administrative fine of NT$240,000 is imposed on the responsible person of the foregoing misconduct pursuant to subparagraph 7, paragraph 1, Article 178, and paragraph 1, Article 179, of the Securities and Exchange Act.
 
Visitor: 135   Update: 2018-10-24