Petro king Oilfield Services : POLL RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 2 JUNE 2017, RETIREMENT OF DIRECTOR, APPOINTMENT OF DIRECTOR AND CHANGES OF COMPOSITIONS OF BOARD COMMITTEES

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PETRO-KING OILFIELD SERVICES LIMITED

百勤油田服務有限公司

(Incorporated in the British Virgin Islands with limited liability)

(Stock Code: 2178) POLL RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 2 JUNE 2017, RETIREMENT OF DIRECTOR, APPOINTMENT OF DIRECTOR AND CHANGES OF COMPOSITIONS OF BOARD COMMITTEES

1. The Board is pleased to announce that the AGM was held on 2 June 2017 and all the resolutions set out in the Notice of the AGM were duly passed by the Shareholders by way of poll at the AGM.

2. The Board also announces that Mr. Wong Lap Tat Arthur has retired from office as an independent non-executive Director upon the conclusion of the AGM. Following the retirement of Mr. Wong as an independent non-executive Director, Mr. Wong has ceased to be the chairman of each of the Audit Committee and the Sanction Oversight Committee, and also a member of each of the Nomination Committee and the Remuneration Committee.

3. The Board further announces that Mr. Leung Lin Cheong has been appointed as an independent non-executive Director with effect from 2 June 2017. Following the appointment of Mr. Leung as an independent non-executive Director, Mr. Leung was also appointed as the chairman of each of the Audit Committee and the Sanction Oversight Committee, and also a member of each of the Nomination Committee and the Remuneration Committee with effect from 2 June 2017.

POLL RESULTS OF THE ANNUAL GENERAL MEETING

Reference is made to the notice of annual general meeting (the "Notice of the AGM") and the circular (the "Circular") of Petro-king Oilfield Services Limited (the "Company") both dated 21 April 2017 in relation to, inter alia, proposals for general mandates to repurchase shares and to issue new shares of the Company and re-election of directors of the Company. Terms used herein shall have the same meanings as those defined in the Circular unless the context requires otherwise.

The Board is pleased to announce that at the AGM held on 2 June 2017, all the resolutions set out in the Notice of the AGM were duly passed by the Shareholders by way of poll.

As at the date of the AGM, a total of 1,726,674,682 Shares were in issue, which was the total number of Shares entitling the Shareholders to attend and vote for or against the resolutions proposed at the AGM. There is no restriction on any Shareholders casting votes on any of the resolutions at the AGM. None of the Shareholders have stated their intention in the Circular to vote against or to abstain from voting on any of the resolutions at the AGM.

The Company's branch share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited, was appointed as the scrutineer at the AGM for the purpose of vote-taking. Set out below are the poll results in respect of the resolutions proposed at the AGM:

Ordinary Resolutions		No. of Shares voted (approximate percentage of total number of votes cast)
		For	Against
1.	To receive and consider the audited consolidated financial statements and the reports of the Directors and auditor of the Company for the financial year ended 31 December 2016.	1,075,519,584 (95.469318%)	51,040,870 (4.530682%)
2.	(i) To re-elect Mr. Zhao Jindong as executive Director.	1,075,519,584 (95.469318%)	51,040,870 (4.530682%)
	(ii) To re-elect Mr. Lee Tommy as non-executive Director.	1,075,519,584 (95.469318%)	51,040,870 (4.530682%)
	(iii) T o re-elect Mr. Xin Junhe as independent non-executive Director.	1,075,519,584 (95.469318%)	51,040,870 (4.530682%)

Ordinary Resolutions		No. of Shares voted (approximate percentage of total number of votes cast)
		For	Against
3.	To authorise the Board to fix the remuneration of the Directors.	1,075,519,584 (95.469318%)	51,040,870 (4.530682%)
4.	To re-appoint PricewaterhouseCoopers as auditor of the Company and to authorise the Board to fix its remuneration.	1,075,519,584 (95.469318%)	51,040,870 (4.530682%)
5.	To grant a general mandate to the Directors to allot, issue and deal with new Shares.	1,075,518,442 (95.469217%)	51,042,012 (4.530783%)
6.	To grant a general mandate to the Directors to repurchase the Company's own Shares.	1,075,519,584 (95.469318%)	51,040,870 (4.530682%)
7.	Conditional on the passing of resolutions numbered 5 and 6, to extend the general mandate granted by resolution numbered 5 by adding thereto the Shares repurchased pursuant to the general mandate granted by resolution numbered 6.	1,075,518,442 (95.469217%)	51,042,012 (4.530783%)

As more than 50% of the votes were cast in favour of each of the resolutions numbered 1 to 7 at the AGM, all of these resolutions were duly passed as ordinary resolutions of the Company by way of poll.

RETIREMENT OF DIRECTOR

Reference was made to the Circular relating to, among others, the retirement of Mr. Wong Lap Tat Arthur ("Mr. Wong") by rotation at the AGM. As disclosed in the Circular, Mr. Wong has indicated that he will not stand for re-election when he is due to retire by rotation at the AGM. Therefore, Mr. Wong has retired from office as an independent non-executive Director upon the conclusion of the AGM.

Mr. Wong has confirmed that he has no disagreement with the Board and there is no other matter relating to his retirement that needs to be brought to the attention of the Shareholders or the Stock Exchange.

The Board would like to take this opportunity to express its gratitude to Mr. Wong for his valuable contributions to the Company during his tenure of office.

APPOINTMENT OF DIRECTOR

The Board is pleased to announce that Mr. Leung Lin Cheong ("Mr. Leung") has been appointed as an independent non-executive Director with effect from 2 June 2017.

The biographical details of Mr. Leung are as follows:

Mr. Leung Lin Cheong (梁年昌), aged 63, is an independent non-executive director and the chairman of the audit committee of Guangzhou Automobile Group Co., Ltd. (listed in both the Stock Exchange and the Shanghai Stock Exchange, with the stock codes of "2238" and "601238" respectively). Mr. Leung is also the managing director of Union Registrars Limited since May 2014 and a part-time tutor for the Master of Corporate Governance of The Open University of Hong Kong. From October 2012 to May 2015, Mr. Leung was an independent non-executive director of Casablanca Group Limited (stock code: 2223). He was the chief legal and compliance officer of Shanghai Industrial Investment (Holdings) Co., Ltd. and the chief legal and compliance officer and company secretary of Shanghai Industrial Holdings Limited (stock code: 0363). He obtained a master's degree in business administration jointly from Brunel University and Henley Management College and a master's degree in Laws from University of London in 1995 and 2006, respectively. He is a fellow member of Hong Kong Institute of Certified Public Accountants, The Chartered Institute of Management Accountants, The Institute of Chartered Secretaries and Administrators, The Hong Kong Institute of Chartered Secretaries, and a founding member of The Hong Kong Independent Non-Executive Director Association.

Save as disclosed above, Mr. Leung (i) has not held any directorships in the last three years preceding the date of this announcement in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas; (ii) does not hold any other position with the Company or any other members of the Group; and (iii) has no other major appointments and professional qualifications.

Mr. Leung has entered into a letter of appointment (the "Letter of Appointment") with the Company for a term of 3 years commencing on 2 June 2017, subject to retirement by rotation and re-election at the next following general meeting of the Company in accordance with the articles of association of the Company. Mr. Leung is entitled to a director's fee of HK$240,000 per annum, which was determined with reference to the prevailing market conditions, his expertise and duties and responsibilities of Mr. Leung on the Company's affairs. The Letter of Appointment can be terminated by either party by giving 3 months' notice in writing.