According to a ruling issued by the FSC on November 12, 2014, if a company listed in Taiwan Securities Exchange (“TWSE”) or Taiwan GreTai Securities Market (“TGSM”) has paid-in capital of NT$2 billion or more and the shareholder roster of such company indicates that it has 10,000 shareholders or more on the previous book closure date, such company is required to adopt electronic transmission as one of the methods for shareholders to exercise their voting rights in shareholders’ meetings.  This ruling is effective from January 1, 2016.