CWT International : Announcements and Notices - Voting Results of the Annual General Meeting Held on 28 June 2019 and Resignation of A Director

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CWT INTERNATIONAL LIMITED

(Receivers Appointed)

(Incorporated in Hong Kong with limited liability)

(Stock Code: 521)

VOTING RESULTS OF THE ANNUAL GENERAL MEETING

HELD ON 28 JUNE 2019

AND

RESIGNATION OF A DIRECTOR

The Board is pleased to announce the poll results in respect of the resolutions set out in the AGM Notice which were proposed at the Annual General Meeting held on 28 June 2019.

The Board also announces that Mr. Mung Kin Keung tendered his resignation as an Executive Director of the Company and a Co-Chairman of the Board on 28 June 2019.

Reference is made to the circular of CWT International Limited (Receivers appointed) (the "Company") dated 6 June 2019 (the "Circular") to the Shareholders regarding the proposals for re-election of directors, general mandates to issue and repurchase shares and the notice of Annual General Meeting (the "AGM Notice"). Capitalized terms used herein shall have the same meanings as defined in the Circular unless the context requires otherwise. The Circular may be viewed at, and downloaded from, the website of the Company at www.cwtinternational.com and the website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk.

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VOTING RESULTS OF THE ANNUAL GENERAL MEETING

The Board is pleased to announce the poll results in respect of the resolutions set out in the AGM Notice contained in the Circular which were proposed at the Annual General Meeting held on 28 June 2019.

The Company's share registrar, Tricor Tengis Limited, was appointed as the scrutineer at the Annual General Meeting for the purpose of vote-taking. The voting results in respect of the resolutions as set out in the AGM Notice are as follows:

			Number of Shares actually voted	Total number
			(percentage of total number of
		Ordinary Resolutions	of Shares
		Shares actually voted)
			actually voted
			For	Against
1.	To receive and adopt the report of the directors of the	5,892,998,859	4,053,600	5,897,052,459
	Company and the audited financial statements of the	(99.93%)	(0.07%)
	Company for the year ended 31 December 2018.
2.	A.	To re-elect Mr. Xu Haohao as a director of the	49,746,370	5,847,306,089	5,897,052,459
		Company.	(0.84%)	(99.16%)
	B.	To re-elect Mr. Mung Kin Keung as a director	N/A	N/A	N/A
		of the Company. Note
	C.	To re-elect Mr. Li Tongshuang as a director of	5,892,998,859	4,053,600	5,897,052,459
		the Company.	(99.93%)	(0.07%)
	D.	To re-elect Mr. Liem Chi Kit, Kevin as a director	5,892,998,859	4,053,600	5,897,052,459
		of the Company.	(99.93%)	(0.07%)
	E.	To re-elect Mr. Lam Kin Fung, Jeffrey as a	5,850,988,869	46,063,590	5,897,052,459
		director of the Company.	(99.22%)	(0.78%)
	F.	To authorise the directors of the Company to fix	5,892,996,859	4,055,600	5,897,052,459
		directors' remuneration.	(99.93%)	(0.07%)
3.	To appoint auditor and to authorise the directors of the	5,892,995,859	4,056,600	5,897,052,459
	Company to fix its remuneration.	(99.93%)	(0.07%)
4.	To pass Resolution 4 of the AGM Notice - to grant a	5,846,158,469	50,893,990	5,897,052,459
	general mandate to the directors to issue and dispose of	(99.14%)	(0.86%)
	shares not exceeding 20% of the existing total number
	of shares of the Company in issue.
5.	To pass Resolution 5 of the AGM Notice - to grant a	5,892,998,859	4,053,600	5,897,052,459
	general mandate to the directors to repurchase shares not	(99.93%)	(0.07%)
	exceeding 10% of the existing total number of shares
	of the Company in issue.

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		Number of Shares actually voted	Total number
		(percentage of total number of
	Ordinary Resolutions	of Shares
	Shares actually voted)
		actually voted
		For	Against
6.	To pass Resolution 6 of the AGM Notice - to add,	5,846,158,469	50,893,990	5,897,052,459
	conditional upon the passing of ordinary resolution 5	(99.14%)	(0.86%)
	above, the total number of repurchased shares to the
	general mandate given to the directors of the Company
	to allot shares.

Note: As the Board received Mr. Mung Kin Keung's resignation as a director of the Company before the beginning of the Annual General Meeting, the proposed resolution for his re-election as a director of the Company was no longer relevant. Further details of Mr. Mung's resignation are set out below.

As more than 50% of the votes were cast in favour of the above resolutions 1, 2C, 2D, 2E, 2F, 3, 4, 5 and 6 of the Annual General Meeting, these resolutions were duly approved by way of poll as ordinary resolutions of the Company. As less than 50% of the votes were cast in favour of resolution 2A of the Annual General Meeting, that resolution was not approved by way of poll.

As at the date of the Annual General Meeting, the number of Shares in issue was 11,399,996,101 which was the total number of Shares entitling the Shareholders to attend and vote on the resolutions at the Annual General Meeting. There were no Shares entitling the Shareholders to attend and abstain from voting in favour as set out in Rule 13.40 of the Listing Rules and no Shareholders were required under the Listing Rules to abstain from voting at the Annual General Meeting. No parties have indicated in the Circular that they intend to vote against or to abstain from voting on any resolutions at the Annual General Meeting.

RESIGNATION OF MR. MUNG KIN KEUNG

The Board also announces that Mr. Mung Kin Keung ("Mr. Mung") tendered his resignation as an Executive Director of the Company and a Co-Chairman of the Board on 28 June 2019 due to devote more time to other business commitments, and his position as a member of the Executive Committee of the Company has ceased accordingly. The resignation took effect on the same day.

Mr. Mung has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the Shareholders and The Stock Exchange of Hong Kong Limited. The Board would like to express its gratitude to Mr. Mung for his contribution to the Company during his tenure of service as an Executive Director of the Company and a Co-Chairman of the Board. In particular, the Board deeply appreciates Mr. Mung's leadership during the difficult financial situation which the Company faced in recent months.

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CHANGE IN COMPOSITION OF BOARD COMMITTEES

Due to the resignation of Mr. Mung and the resolution for the re-election of Mr. Xu Haohao as a director of the Company not being approved by way of poll, the Company will announce changes to the membership of the Executive Committee, the Audit Committee, the Nomination Committee, the Remuneration Committee and the Investment Committee of the Company by a separate announcement.

By order of the Board

CWT INTERNATIONAL LIMITED

(Receivers Appointed)

Ding Lei

Executive Director

Hong Kong, 28 June 2019

As at the date of this announcement, the Board comprises Mr. Ding Lei (Executive Director and Co-Chairman), Mr. Li Tongshuang (Executive Director and Chief Executive Officer), Mr. Zhao Quan (Executive Director), Mr. Mung Bun Man, Alan (Non-executive Director), Mr. Leung Shun Sang, Tony (Independent Non-executive Director), Mr. Liem Chi Kit, Kevin (Independent Non-executive Director) and Mr. Lam Kin Fung, Jeffrey (Independent Non-executive Director).

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