PanAsialum : POLL RESULTS OF EXTRAORDINARY GENERAL MEETING HELD ON 13 AUGUST 2020

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PanAsialum Holdings Company Limited

榮 陽 實 業 集 團 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2078)

POLL RESULTS

OF EXTRAORDINARY GENERAL MEETING HELD

ON 13 AUGUST 2020

The Board is pleased to announce that the ordinary resolution proposed at the Extraordinary General Meeting was duly passed by way of poll.

Reference is made to the circular (the "Circular") of PanAsialum Holdings Company Limited (the "Company") dated 29 July 2020. Terms used herein shall have the same meanings as defined in the Circular unless the context requires otherwise.

POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING

Pursuant to Rule 13.39(4) of the Listing Rules and the Articles, the voting of the resolution (the "Resolution") proposed at the Extraordinary General Meeting held on 13 August 2020 had been taken by poll.

As at the date of the Extraordinary General Meeting, the issued Shares of the Company comprised 1,200,000,000 Shares, which was the total number of Shares entitling the Shareholders to attend and vote on the Resolution at the Extraordinary General Meeting. There were no Shares entitling the Shareholders to attend and abstain from voting in favour of the Resolution at the Extraordinary General Meeting as set out in Rule 13.40 of the Listing Rules. None of the Shareholders has stated their intention in the Circular to vote against the Resolution at the Extraordinary General Meeting. No Shareholder was required under the Listing Rules to abstain from voting on the Resolution at the Extraordinary General Meeting.

The Company's branch share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited, was appointed as the scrutineer at the Extraordinary General Meeting for the purpose of vote-taking.

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As more than 50% of the votes were cast in favour of the Resolution, the Resolution was duly passed as ordinary resolution of the Company and the poll results are set out as follows:

	ORDINARY RESOLUTION	No. of Shares (%)
FOR	AGAINST
1.	The Company be and is hereby authorised to dispose	908,444,582	7,045,000
	of the Land by way of a land auction through the	(99.230466%)	(0.769534%)
	P l a n n i n g a n d N a t u r a l R e s o u r c e s B u r e a u i n
	accordance with the major terms as delineated in the
	announcement of the Company dated 8 July 2020 and
	the circular dated 29 July 2020 despatched or to be
	despatched by the Company (the " Proposed
	Disposal") and the transactions contemplated under
	such Proposed Disposal be and are hereby approved,
	ratified and confirmed; and any one director of the
	Company or his/her proxy(ies) be and is/are hereby
	authorised to proceed with the Proposed Disposal
	within one month from the date of which the
	Shareholders having approved the Proposed Mandate
	at the EGM and to complete the Proposed Disposal
	and to exercise all the powers of the Company and to
	do all things and acts and execute and deliver all
	agreements and document and take all steps, as may
	be necessary, desirable or expedient to carry out or
	to give effect to any matters relating to or in
	connection with the Proposed Disposal and the
	transactions contemplated thereunder and where
	necessary, affix the common seal of the Company on
	such documents.

Note: The description of the Resolution above is by way of summary only, the full text of which appears in the notice of Extraordinary General Meeting of the Company dated 29 July 2020.

By order of the Board

PanAsialum Holdings Company Limited

Cheung Wah Keung

Independent Non-executive Chairman

and Independent Non-Executive Director

Hong Kong, 13 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Gao Mingjie, Ms. Li Jiewen and Mr. Pan Zhaolong; and the independent non-executive directors of the Company are Mr. Mar Selwyn, Mr. Leung Ka Tin, Dr. Cheung Wah Keung and Mr. Chan Kai Nang.

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