1.Date the punishment was imposed: August 7, 2019

2.Recipient of the punishment: HUANG, ○○, the responsible person of the conduct by Brogent Technologies Inc.

3.Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, and Paragraph 3, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies effective at the time of conduct.

4.Facts of the violation and reasons: The subsidiary of Brogent Technologies Inc. (hereinafter referred to as “Brogent”), Brogent Gaming Equipment (Shanghai) Limited (hereinafter referred to as “Brogent Gaming Equipment”), resolved by its executive director to invest in a Chinese company, Flyover China, on January 24, 2018 in the amount of RMB 25 million, constituting 20% of the paid-in capital of Brogent at the time of the transaction. However, Brogent Gaming Equipment failed to obtain a CPA’s opinion on the reasonableness of the transaction price before the occurrence of such event. Brogent failed to urge its subsidiary to prescribe the Regulations Governing the Acquisition and Disposal of Assets before the investment. It is deemed as a violation against Paragraph 3, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies. 

5.The disciplinary action: An administrative fine of NT$ 240,000 was imposed on the responsible person of that company’s conduct pursuant to Subparagraph 7, Paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act effective at the time of conduct. 

 

Contact Person: Chang, Ya Chun, Section Chief, Corporate Finance Division, Securities and Futures Bureau

Contact Tel.: 2774-7147

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