Asia Cassava Resources : Results of AGM

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ASIA CASSAVA RESOURCES HOLDINGS LIMITED

亞洲木薯資源控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 841)

RESULTS OF ANNUAL GENERAL MEETING

The Board of Directors of Asia Cassava Resources Holdings Limited (the "Company") is pleased to announce that at the annual general meeting (the "AGM") held on 27 September 2019, all the ordinary resolutions (the "Resolutions") were duly passed by the shareholders of the Company (the "Shareholders").

As at the date of the AGM, the total number of the Company's shares (the "Shares") entitling the Shareholders to attend and vote for or against the Resolutions was 584,726,715 Shares, representing the entire issued share capital of the Company. There were no Shareholders who were entitled to attend and vote only against the Resolutions at the AGM. There were also no any parties that had stated their intention to vote against the Resolutions or to abstain have done so at the AGM. Clodick & Co., Certified Public Accountant, was appointed as the scrutineer to monitor the vote taking at the AGM. The poll results were as follows:

						Total
		Number of Shares		number of
	Ordinary resolution (Note)	Represented by votes (%)	Shares voted
		For	Against		Abstention
1	To receive and approve the audited	300,005,733	NIL Share		NIL Shares	300,005,733
	consolidated financial statements of the Company	Shares	(0%)		(0%)	Shares
	and its subsidiaries and the report of the Directors	(100%)
	and Auditors for the year ended 31 March 2019
2	To re-appoint the Company's auditors and authorize	300,005,733	NIL Share		NIL Shares	300,005,733
	the board of directors to fix their remuneration	Shares	(0%)		(0%)	Shares
		(100%)

						Total
		Number of Shares		number of
	Ordinary resolution (Note)	Represented by votes (%)	Shares voted
		For	Against		Abstention
3(a)	To re-elect Mr. Chui Chi Yun Robert as independent	300,005,733	NIL Share		NIL Shares	300,005,733
	non-executive director of the Company	Shares	(0%)		(0%)	Shares
		(100%)
3(b)	To authorize the Board to fix their remuneration	300,005,733	NIL Share		NIL Shares	300,005,733
		Shares	(0%)		(0%)	Shares
		(100%)
4	To re-elect Professor Fung Kwok Pui (who has	300,005,733	NIL Share		NIL Shares	300,005,733
	served as an independent non-executive director of	Shares	(0%)		(0%)	Shares
	the Company for more than 9 years) as an	(100%)
	independent non-executive director of the Company
	and to authorise the Board to fix his remuneration.
5(a)	To grant a general mandate to the directors to allot,	300,005,733	NIL Share		NIL Shares	300,005,733
	issue and otherwise deal with the Company's shares	Shares	(0%)		(0%)	Shares
		(100%)
5(b)	To grant a general mandate to the directors to	300,005,733	NIL Share		NIL Shares	300,005,733
	purchase the Company's shares	Shares	(0%)		(0%)	Shares
		(100%)
5(c)	To add the nominal amount of the shares	300,005,733	NIL Share		NIL Shares	300,005,733
	repurchased by the Company to the mandate granted	Shares	(0%)		(0%)	Shares
	to the directors under resolution number 5(a)	(100%)

Note: Full text of the resolutions are set out in the notice of the AGM.

By Order of the Board

Asia Cassava Resources Holdings Limited

Chu Ming Chuan

Chairman

Hong Kong, 27 September 2019

As at the date hereof, the Company's Executive Directors are Mr. Chu Ming Chuan, Ms. Liu Yuk Ming and Ms. Lam Ching Fun and the Company's Independent non-executive Directors are Professor Fung Kwok Pui, Mr. Chui Chi Yun Robert and Mr. Yue Man Yiu Matthew.