OBI Pharma ‘s 2016 Annual General Meeting has approved to release the newly elected Director from non-competition restriction

OBI Pharma, Inc. announces the re-appointment of Mr. Michael Chang as the Chairman of the Company.
June 27, 2016
The Re-election of Directors at 2016 Annual General Shareholders’ Meeting
June 27, 2016

1.Date of the shareholders’ meeting resolution:2016/06/27
2.Name and title of the director with permission to engage in competitive conduct:
Director  Michael Chang (Representative of Yi Tai Fund Co.)
Director  Tamon Tseng (Representative of Yi Tai Fund Co.)
Director  Lung-Yeh Cho (Representative of Sun Cheng Fund Co.)
Director  Frank Chen (Representative of Sun Cheng Fund Co.)
Independent Director  Jerry G. Fong
Independent Director  Chung-Ming Chang
Independent Director  Tay-Chang Wang
3.Items of competitive conduct in which the director is permitted to engage: The business project within the company’s business scope.
4.Period of permission to engage in the competitive conduct:During the term of the person serving as the Director.
5.Circumstances of the resolution (please describe the results of the voting under Article 209 of the Company Act): The shareholders holding over two thirds of the total issued shares will attend the shareholders meeting, the resolution will be passed by half of the shareholders attending the meeting’s agreement.
6.If the permitted competitive conduct is business of a mainland China area enterprise, the name and title of the director (if it is not business of a mainland China area enterprise, please enter ”not applicable” below): N/A
7.Company name of the mainland China area enterprise and the director’s position in the enterprise: N/A
8.Address of the mainland China area enterprise: N/A
9.Business items of the mainland China area enterprise: N/A
10.Degree of effect on the Company’s finances and business: N/A
11.If the director has invested in the mainland China area enterprise, the monetary amount of the director’s investment and the director’s shareholding ratio: N/A
12.Any other matters that need to be specified: None