Taiwan Cement Announce on behalf of subsidiary, Hoping Power, on Supreme Administrative Court verdict
· Issued by Tcc Group Holdings Co Ltd.
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Today's Information
Provided by: Taiwan Cement Corp.
SEQ_NO
3
Date of announcement
2022/08/12
Time of announcement
13:42:31
Subject
Announce on behalf of subsidiary, Hoping Power, on Supreme
Administrative Court verdict
Date of events
2022/08/12
To which item it meets
paragraph 51
Statement
1.Date of occurrence of the event:2022/08/12
2.Company name:Hoping Power Company
3.Relationship to the Company (please enter "head office" or
"subsidiaries"):subsidiaries
4.Reciprocal shareholding ratios:TCC owns 60% directly and indirectly
5.Cause of occurrence:
In 2013, Fair Trade Commission deemed Hoping Power Company
(hereafter referred to as Hoping Power) participated in a
concerted action which violated Item 1 of Article 14 of the Fair
Trade Act,and issued a fine of more than NT$1.3 billion. The
aforementioned concerted action case went through the process of
petition, administrative litigations, reverse and remand.
Today, a final court decision was published on the Judicial Yuan
website: abandon initial court decision and reject petition filed
by Hoping Power.
6.Countermeasures:
Hoping Power has yet to receive official documents for the final
verdict but has entrusted legal representatives to discuss
further remedies and procedures in order to protect Company rights.
7.Any other matters that need to be specified:
Hoping Power has already paid all fines in 2019, hence, this
final verdict does not have material impact on the financial
status of Hoping Power.
