Pulike Biological Engineering to dissolve supervisory board, overhaul governance

Pulike Biological Engineering Co., Ltd. is set to hold its second extraordinary general meeting of shareholders on November 27, 2025, to vote on a series of significant governance changes. The key proposal is the elimination of the supervisory board, with its functions to be absorbed by the board of directors' audit committee. This change necessitates extensive revisions to the company's Articles of Association, affecting various clauses including those related to shareholder rights, board structure, and operational procedures.

The proposed amendments to the Articles of Association include modifying the company's legal representative succession, clarifying the responsibilities of controlling shareholders, and updating rules for share issuance and buybacks. The revisions also introduce new thresholds for shareholder meeting approval on matters such as asset acquisitions/disposals and external guarantees. Specifically, shareholder approval will be required for external guarantees exceeding 50% of the company's audited net assets or 30% of its total audited assets.

Additionally, the meeting will address revisions to several corporate governance policies, including the Shareholder Meeting Rules, Board Meeting Rules, Independent Director Work System, Related Party Transaction Management System, and Investment, Guarantee, and Loan System. These updates aim to align the company's governance framework with the latest legal and regulatory requirements.