Innovative Pharmaceutical Biotech : POLL RESULTS OF THE SPECIAL GENERAL MEETINGS HELD ON 4 OCTOBER 2019

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INNOVATIVE PHARMACEUTICAL BIOTECH LIMITED

領航醫藥及生物科技有限公司

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock Code: 399)

POLL RESULTS OF THE SPECIAL GENERAL MEETINGS

HELD ON 4 OCTOBER 2019

POLL RESULTS OF THE SPECIAL GENERAL MEETING IN RELATION TO THE DISPOSAL

The Board is pleased to announce that the resolutions as set out in the VSD Notice were duly passed by the Independent Shareholders by way of poll at the VSD SGM held on 4 October 2019.

POLL RESULTS OF THE SPECIAL GENERAL MEETING IN RELATION TO THE AMENDMENT

The Board is pleased to announce that the resolutions as set out in the CB Notice were duly passed by the Shareholders by way of poll at the CB SGM held on 4 October 2019.

References are made to 1) the circular (the "VSD Circular") of Innovative Pharmaceutical Biotech Limited (the "Company") dated 13 September 2019 in relation to the Disposal;

1. the notice of the special general meeting dated 13 September 2019 in relation to the Disposal (the "VSD Notice"); 3) the circular (the "CB Circular") of the Company dated 13 September 2019 in relation to the Amendment; and 4) the notice of the special general meeting dated 13 September 2019 in relation to the Amendment (the "CB Notice"). Unless the context otherwise requires, terms defined in this announcement shall have the same meanings as those defined in the VSD Circular and the CB Circular.

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POLL RESULTS OF THE SPECIAL GENERAL MEETING IN RELATION TO THE DISPOSAL

The Board is pleased to announce that at the special general meeting held on 4 October 2019 in relation to the Disposal (the "VSD SGM"), all the proposed ordinary resolutions as set out in the VSD Notice ("VSD Resolutions") were duly passed by the Independent Shareholders by way of poll pursuant to Rule 13.39(4) of the Listing Rules.

Tricor Tengis Limited, the Company's branch share registrar, acted as the scrutineer for the purpose of the counting of votes at the VSD SGM. The poll results of the resolutions at the VSD SGM are as follows:

	For		Against
ORDINARY RESOLUTIONS
Number		Number
	of Shares	%	of Shares	%
1. To approve, among others, 506,497,540	99.99	104	0.01

1. the Sale and Purchase Agreement dated 23 June 2019 and the transactions contemplated thereunder; and (ii) the Directors are duly authorized to do all such further acts and things and to sign and execute all such other or further documents or agreements, with full details as indicated in the VSD Notice.

As at the date of the VSD SGM, a total of 1,464,193,024 Shares were in issue. As at the date of this announcement, the Purchaser holds 389,200,000 Shares, representing approximately 26.58% of the total issued share capital of the Company. To the best of the Directors' knowledge, information and belief, and having made all reasonable enquiries, save for the Purchaser and his associates (namely United Gene Holdings, United Gene Group, Biowindow Gene, JNJ Investments, Good Links, Victory Trend, Best Champion and China United Gene), no other Shareholder has a material interest in the Sale and Purchase Agreement and the transactions contemplated thereunder. As such, save for the Purchaser and his associates as disclosed, no other Shareholder is required to abstain from voting on the resolution to approve the Sale and Purchase Agreement and the transactions contemplated thereunder at the VSD SGM.

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POLL RESULTS OF THE SPECIAL GENERAL MEETING IN RELATION TO THE AMENDMENT

The Board is pleased to announce that at the special general meeting held on 4 October 2019 in relation to the Amendment (the "CB SGM"), all the proposed ordinary resolutions as set out in the CB Notice ("CB Resolutions") were duly passed by the Shareholders by way of poll pursuant to Rule 13.39(4) of the Listing Rules.

Tricor Tengis Limited, the Company's branch share registrar, acted as the scrutineer for the purpose of the counting of votes at the CB SGM. The poll results of the resolutions at the CB SGM are as follows:

	For		Against
ORDINARY RESOLUTIONS
Number		Number
	of Shares	%	of Shares	%
1. To approve, among others, 867,328,870	99.99	104	0.01

1. the Amendment Deed and the transactions contemplated thereunder; and (ii) the Directors are duly authorized to do all such further acts and things and to sign and execute all such other or further documents or agreements, with full details as indicated in the CB Notice.

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As at the date of the CB SGM, a total of 1,464,193,024 Shares were in issue. As at the date of this announcement, Dr. Xie Yi owns the entire issued share capital of Ease Gold which owns 33.5% interest in Best Champion which in turn owns 60% interest in China United Gene and China United Gene is interested in 13,951,350 Shares. Dr. Xie Yi is the chairman, chief executive officer and executive director of the Bondholder and therefore Dr. Xie Yi is considered to be materially interested in the Amendment. China United Gene and its associates are required to abstain from voting on the resolution(s) proposed to be passed at the CB SGM. To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, save for China United Gene and its associates, no Shareholders are required to abstain from voting on the resolutions to be proposed at the CB SGM.

By Order of the Board

Innovative Pharmaceutical Biotech Limited

Tang Rong

Executive Director

Hong Kong, 4 October 2019

As at the date of this announcement, the Board comprises Ms. Jiang Nian (chairman & non-executive Director), Mr. Gao Yuan Xing (executive Director), Mr. Tang Rong (executive Director), Ms. Huang He (executive Director), Ms. Xiao Yan (non-executive Director), Ms. Wu Yanmin (non-executive Director), Ms. Chen Weijun (independent non-executive Director), Dr. Zhang Zhihong (independent non-executive Director) and Mr. Wang Rongliang (independent non-executive Director).

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