Alco : Poll Results of the Annual General Meeting held on 27 August 2020

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POLL RESULTS OF THE ANNUAL GENERAL MEETING

HELD ON 27 AUGUST 2020

Reference is made to the circular (the "Circular") and the notice of annual general meeting (the "AGM Notice") of Alco Holdings Limited (the "Company") dated 27 July 2020. Unless otherwise defined, terms used herein shall have the same meaning as those defined in the Circular.

At the annual general meeting of the Company held on 27 August 2020 (the "AGM"), a poll was demanded by the Chairman for voting on all the proposed ordinary resolutions as set out in the AGM Notice.

Tricor Abacus Limited, the Company's share registrar in Hong Kong, was appointed as the scrutineer for the vote-taking at the AGM.

As at the date of the AGM, the total number of issued shares of the Company was 723,244,650, which was the total number of shares entitling the holder to attend and vote for or against the resolutions at the AGM. There were no restrictions on any shareholders to cast votes on any of the proposed resolutions at the AGM.

The board of directors of the Company (the "Board") is pleased to announce that each of the proposed resolutions was duly passed and the poll results are set out as follows:

			NUMBER OF VOTES
		ORDINARY RESOLUTIONS	(Approximate %)
			FOR	AGAINST
1.	To	receive and consider the audited consolidated	506,632,052	11,986,650
	financial statements and the reports of the directors
	(97.69%)	(2.31%)
	and auditor for the year ended 31 March 2020.
2.	(i)	To re-elect Mr. LEUNG Kam Fai, Peter as	506,632,052	11,986,650
		Director.	(97.69%)	(2.31%)
	(ii)	To re-elect Mr. LIU Hoi Keung as Director.	506,632,052	11,986,650
			(97.69%)	(2.31%)
	(iii) To authorize the Board of Directors to fix the	435,013,674	83,605,028
		Directors' remuneration.	(83.88%)	(16.12%)
3.	To appoint Auditor and to authorize the Board of	506,632,052	11,986,650
	Directors to fix the Auditor's remuneration.	(97.69%)	(2.31%)
4.	To grant an unconditional general mandate to the	435,014,591	83,604,111
	Directors to allot, issue and deal with additional
	(83.88%)	(16.12%)
	shares of the Company.
5.	To grant an unconditional general mandate to the	506,505,447	12,113,255
	Directors to repurchase shares of the Company.	(97.66%)	(2.34%)

By order of the Board

Alco Holdings Limited

LEUNG Wai Sing, Wilson

Chairman and Chief Executive Officer

Hong Kong, 27 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. LEUNG Wai Sing, Wilson, Mr. LEUNG Kam Fai, Peter and Mr. LIU Hoi Keung. The independent non-executive directors are Mr. LEE Tak Chi, Mr. CHEUNG, Johnson and Mr. CHEUNG Ka Wing.