By Ted Chen / Staff reporter[首次購屋貸款2017]
In the run-up to a shareholde[信用不好如何借錢]rs’ meeting next week, factions have been amassing stakes in[信用瑕疵貸款] a bid to capture board of directors seats.
Tatung shares have swung wildly this year, peaking at NT$20.56 in February[哪家銀行信貸利率最低] before retreating and closing at NT$10.75 yesterday.
Local media reports said that about NT$2 billion to NT$3 billion （US$66.3 million to US$99.4 million） from China have been funneled to purchase Tatung shares on behalf of the activist investors.
Such revelations would lead to further market[個人信貸代辦[負債整合利率]][原住民貸款優惠] disrupti[個人小額借款]ons, the commission said.
The commission said that the Chinese investors have been ordered to liquidate their stakes in Taiwanese companies within six months, while the Hong Kong-based brokerage’s Chinese clients would face fines of NT$600,000 in accordance with [前置協商註記]the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area （臺灣地區與大陸地區人民關係條例）.
The Financial Supervi[信貸車貸]sory Commission （FSC） announced that a number of stock purchases on behalf of Chinese clients by SinoPac Securities （Asia） Ltd （永豐金證券亞洲）, a Hong Kong-based brokerage subsidiary of SinoPac Financial Holding Co （永豐金控）, breached rules governing cross-strait investments, as the purchases were not authoriz[信貸利率比較]ed.
Despite prolonged operating losses and an absence of dividend payouts since 2001 — as well as allegations of mismanagement,[信用卡預借現金分期] fraud and embezzlement — the management team led by Tatung’s founding Lin （林） family — which does not include Lin Hung-hsin — has continued to exert control over the company without regard for the interests of shareholders, he said at a news conference in Taipei yesterday.
Due to the[個人信貸評級] ruling, the problematic shares do not confer voting rights, the commission said, although it declined to verify that the case involved Tatung shares.
SinoPac Financial would also be fi[軍人貸款利息]ned for the infraction as soon as next week, the commission said.
A regulatory ruling yesterday on concerns about Chinese funds has dealt a setback to a group of investors seeking to gain control of Tatung Co （大同） in an ongoing management feud and proxy battle with the management team of the 99-year old company best known for its iconic electric rice cooker.
The [桃園小額借貸]stock was languishing a[原住民小額貸款]t about NT$5 in September last year, Taiwan Stock Exchange data showed.
Lin Hung-hsin （林宏信）, chairman of a firm representing the activist investors, said that his faction would vote against capital increases and private placement proposals by the management team, as such moves would further harm sharehol[急需用錢20萬]ders’ interest by diluting shares.
As a result o[軍公教信用貸款銀行]f the diminished number of proxy votes, the activist investors’ plans to secure three out of the nine board seats have been thwarted, market observers said.
Lin, who has previously rejected rumors about his ties to Chinese funds, said the fight with Tatu[個人信用貸款比較]ng is not over for activist investors.[信貸整合代償]
They would continue to increase their stakes in Tatung to prepare for the next board election in three years, he said.