Taiwan Depository & Clearing Corporation

Upon the request of the Financial Supervisory Commission (FSC), TDCC drew up Operating Guidelines for Epidemic Prevention at Shareholder Meetings for TWSE- and TPEx-listed firms to follow when COVID-19 broke out in early 2020. With the government imposing a nationwide level-3 control on May 19, 2021, the FSC announced that shareholder meetings of all publicly-listed firms scheduled between May 24 and June 30 shall be postponed to between July 1 and August 31, and asked TDCC to formulate and revise the Epidemic Prevention Operating Guidelines for Shareholder Meetings During Level 3 Alarm Period to upgrade the operating guidelines accordingly.

According to the level-3 epidemic prevention guidelines, organizers of shareholder meetings should take the temperatures of participating shareholders and make sure shareholders wear a surgical mask before entering the meeting venue. Shareholders that do not put on a surgical mask, or whose forehead/ear temperature is above 37.5/38 degrees Celsius in two consecutive readings will be denied entry into the venue. In addition, companies should request that all participating shareholders leave their telephone or mobile numbers, and perform a risk assessment on the number of shareholders they intend to accept at the meeting venue. Currently, government regulations stipulate that no more than five people are allowed in any indoor gatherings, and ten for outdoor ones. If there are more shareholders attending the meeting physically, the organizer should arrange a separate room or outdoor venue for them or for the meeting staff to lower the risk of cluster infection. Companies should also observe the epidemic control rules announced by the Ministry of Health and Welfare and by local governments of the meeting venues.

TDCC also advised that companies should further postpone gift distribution to shareholders, preferably until the epidemic eases, to avoid a long queue, which could add to infection risks.

TDCC President Chu Han-Chiang said the new operating guidelines are in line with the government’s level-3 epidemic control measures. Although companies may find the requirements troublesome, especially in regard to how many people are allowed at the meeting venue, it is essential that they follow the operating guidelines to prevent cluster infections. The guidelines are subject to rolling reviews and adjustments to help companies navigate through the epidemic safely.