Xiwang Special Steel : VOTING RESULTS OF THE RESOLUTIONS PROPOSED AT THE EXTRAORDINARY GENERAL MEETING

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XIWANG SPECIAL STEEL COMPANY LIMITED

Гˮत፻Ϟࠢʮ̡

(Incorporated in Hong Kong with limited liability)

(Stock Code: 1266)

VOTING RESULTS OF THE RESOLUTIONS PROPOSED

AT THE EXTRAORDINARY GENERAL MEETING

The Board is pleased to announce that the ordinary resolutions proposed at the EGM were duly passed by way of poll by the Shareholders at the EGM.

VOTING RESULTS OF THE EGM

Reference is made to the circular ("EGM Circular") of Xiwang Special Steel Company Limited ("Company") dated 19 December 2017 to the shareholders of the Company ("Shareholders") regarding the ordinary resolutions proposed to be passed at the extraordinary general meeting of the Company ("EGM") to be held on 9 January 2018 at 3:00 p.m.. Capitalized terms used herein shall have the same meanings as defined in the EGM Circular unless the context requires otherwise.

As at the date of the EGM, there were a total of 2,109,666,666 ordinary shares with voting rights in issue. Saved for Xiwang Investment, Wang Di and Sun Xinhu who are interested in the transactions to be approved at the EGM, none of the Shareholders was required to abstain from voting on the ordinary resolutions proposed at the EGM.

The total number of ordinary shares entitling the Independent Shareholders to attend and vote for or against the ordinary resolution at the EGM was 602,666,666, representing 28.57% of the total number of ordinary shares in issue as at the date of the EGM. Other than the ordinary shares held by Xiwang Investment, Wang Di and Sun Xinhu, there was no ordinary share entitling the Shareholders to attend and abstain from voting in favour of the ordinary resolutions proposed at the EGM pursuant to Rule 13.40 of the Listing Rules. There was no Shareholder who has stated its intention in the EGM Circular to vote against or abstain from voting on the resolutions at the EGM.

Pursuant to Rule 13.39(5) of the Listing Rules, the board (the "Board") of directors of the Company (the "Directors") is pleased to announce that the following ordinary resolutions were duly passed by the Shareholders by way of poll at the EGM and the details of the poll results are as follows:

Ordinary resolution

Number of votes (approximate %) (Note)

For Against

1.

That the New Guarantee Agreement and the transactions contemplated thereunder and the related annual caps be and hereby approved, confirmed and ratified; and the Directors be and are hereby authorised to do all such acts and things as they consider necessary, desirable or expedient for the implementation of and giving effect to the New Guarantee Agreement and the transactions contemplated thereunder and the related annual caps and all such acts and things the Directors have done are hereby approved, confirmed and ratified.

213,002,100

21,835,000

(90.70%)

(9.30%)

Note: The number of votes and approximate percentage ("%") are based on the total number of Shares held by the Shareholders who attended and voted at the EGM in person or by corporate representative or proxy.

The Company's share registrar, Boardroom Share Registrars (HK) Limited, was appointed as the scrutineer for the vote-taking at the EGM.

By order of the Board of Xiwang Special Steel Company Limited

WONG Kai Hing

Company Secretary

Hong Kong, 9 January 2018

As at the date of this announcement, the Board comprises the following Directors:

Executive Directors	Independent non-executive Directors
Mr. ZHANG Jian	Mr. LEUNG Shu Sun Sunny
Mr. SUN Xinhu	Mr. LI Bangguang
Ms. LI Hai Xia	Mr. YU Kou
Non-executive Directors
Mr. WANG Di
Mr. WANG Yong
3