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2020/07

Taiwan The 2020 Annual General Meeting of CTCI Corporation & the 1st Meeting of the 15th Term Board of Directors　
　

CTCI Corporation held its 2020 Annual General Meeting on May 28, 2020 at International Conference Hall in the Mellow Fields Hotel. During the meeting, motions regarding business report for fiscal year 2019, financial statements, distribution of fiscal year 2019 earnings, cash distribution from legal reserve, and amendments of “Articles of Incorporation” were all carried.



According to the business report, consolidated sales revenue amounted to TWD 58,211,022 thousand in 2019, a 9.14% decrease against 2018. Consolidated net income was reported at TWD 1,177,011 thousand, a 35.60% decrease against 2018. Total new contract awarded to CTCI group during fiscal year 2019 was TWD 46,331,678 thousand. The major reason for the decrease in consolidated sales revenue is that large-scale projects contracted in 2018 had entered acceptance stage, while sales revenues for most of the new contracts secured in 2019 have not yet been recognized. In addition, cash dividend and cash distribution from legal reserve payable to shareholders of TWD 946,401,753 and TWD 580,237,339, respectively, were approved by the 2020 Annual General Meeting. (TWD 2.0 per share based on 763,319,546 common outstanding shares.)



Meanwhile, the election of the Company’s 15th term Directors was held, and the motion for lifting non-competition restrictions for newly-elected directors was carried. In all, 12 Directors were elected (including 4 Independent Directors) for the 15th term, each with a tenure of three years. The first Board Meeting for the 15th term Board of Directors was held on the same day, during which former President Michael Yang was elected as Chairman and former Executive Vice President Todd Chen was appointed as President. The ex-dividend date and the dividend payment date were set to be on July 24 and on August 21, 2020, respectively.