TDCC Hosted Ceremony for Meetings with Video Conferencing as Assistance; Chairperson Huang Praised 17 Listed Companies
To ensure that publicly-listed companies convene shareholder meetings without compromising pandemic prevention efforts, the Financial Supervisory Commission (FSC) decided this year that companies may organize a physical meeting while providing live streaming at the same time. The live streaming platform, established by TDCC, turned out to be a success, marking a new milestone of corporate governance in Taiwan. On September 29, TDCC hosted a ceremony to showcase the results of companies using the live streaming platform. In recognition of the effort, Dr. Tien-Mu Huang, Chairperson of the FSC, attended the event to present a certificate of appreciation in person.
With the guidance of the FSC, TDCC pulled off the launch of the shareholder meeting live streaming platform in just a bit longer than two months. Companies with shareholder meetings scheduled between August 16 and 31 were eligible to use the platform. A total of seventeen companies listed on the TWSE or TPEx markets, including Ta Ching Securities, Mitake Information, Oriental Securities, Chia Hsin Cement, AUO, Mercuries Life, Makalot, Jetwell Computer, International Integrated System, Shin Kong Securities, Global Lighting Technologies, TaiMed Biologics, Systex, Taiyen, Ta Chan Securities, Shin Shin, and Bull Will, applied for live streaming services, and thus became pioneers of digitalization of shareholder meetings in Taiwan. During the event, Chairperson Huang presented a certificate of appreciation to the seventeen companies and their shareholder service agencies in recognition of their support for digital innovation.
TDCC Chairman and CEO Sherman Lin said this is the first time live streaming is provided in Taiwan to facilitate shareholder meetings, resulting in the so-called hybrid shareholder meetings. The first attempt turned out to be a success thanks to the enormous support of the seventeen companies, and the fact that TDCC leveraged its success experience in launching an e-voting platform, which boasts great credibility in the market. The launch of the live streaming platform represents a leap forward in corporate governance.
For 2022, TDCC intends to expand its services under the supervision of the FSC to allow hybrid and pure online shareholder meetings in accordance with amendments of the Company Act and other related laws. Hopefully the services can provide better user experience and be adopted by more publicly-listed companies so that the public and private sectors can contribute collectively to the digital transition of the capital market in Taiwan.