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Enforcement

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Administrative Fine Imposed on the Responsible Person of THUNDER TIGER CORP. (Listed Company 8033)

1.Date the fine was imposed: November 13, 2019
2.Recipient of the fine: THUNDER TIGER CORP.
3.Legal basis of the fine: Article 36-1, Article 3 of the Regulations Governing Loaning of Funds Making of Endorsements/Guarantees by Public Companies
4.Facts of the violation and reasons: The resolution of the board of THUNDER TIGER CORP. approved on May 11, 2018 to convert an advance payment of US$1,317,000 to Thunder Tiger (Ningbo)Corporation into an entry of loan. However, the loan has not been fully recovered. The loan was considered short-term in nature, but the repayment has been overdue for more than 1 year, and therefore is in violation of Article 3 of the Regulations Governing Loaning of Funds Making of Endorsements/Guarantees by Public Companies.
5.Resulting fine: Sentenced to the fine, NT$240,000, in accordance with Article 36-1, Paragraph 1(11) of Article 178 and Paragraph 1 of Article 179 of the Securities and Exchange Act
Visitor: 335   Update: 2019-12-02