Poll results of extraordinary general meeting held on 31 august 2020 and lapse of vie agreements

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Grandshores Technology Group Limited

雄 岸 科 技 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1647)

POLL RESULTS OF EXTRAORDINARY GENERAL MEETING

HELD ON 31 AUGUST 2020

AND

LAPSE OF VIE AGREEMENTS

The resolution as set out in the Notice was not passed by the Independent Shareholders by way of poll at the EGM held on Monday, 31 August 2020. The VIE Agreements therefore shall lapse.

Reference is made to the circular ("Circular") of Grandshores Technology Group Limited ("Company") dated 11 August 2020 and the notice of the extraordinary general meeting dated 11 August 2020 ("Notice"). Unless the context otherwise requires, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

POLL RESULTS OF EGM

The resolution as set out in the Notice of EGM was not passed by the Independent Shareholders by way of poll at the extraordinary general meeting of the Company held on Monday, 31 August 2020 ("EGM"). The Company's branch share registrar and transfer office in Hong Kong, Tricor Investor Services Limited, was appointed as the scrutineer at the EGM for the purpose of vote-taking.

As at the date of the EGM, the total number of Shares in issue was 1,030,540,000. In view of Mr. Yao's, Mrs. Yao's and Mr. Zhu's interests in the VIE Agreements, they and their respective associates, holding 354,295,000 Shares, were required to, and did abstain from, voting at the EGM for the ordinary resolution in respect of the VIE Agreements. Accordingly, the total number of Shares entitling the Independent Shareholders to attend and vote on the resolution at the EGM was 676,245,000 Shares. There was no Shareholder who was entitled to attend but was required to abstain from voting in favour of the resolution as set out in Rule 13.40 of the Listing Rules. No persons were indicated in the Circular that they intended to vote against the resolution at the EGM.

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The poll results in respect of the resolution were as follows:

LAPSE OF VIE AGREEMENTS

As the resolution set out in the Notice was not passed, the VIE Agreements shall lapse.

By order of the Board

Grandshores Technology Group Limited

Yao Yongjie

Chairman and Executive Director

Hong Kong, 31 August 2020

As at the date of this announcement, the Board comprises Mr. Yao Yongjie as an executive Director; Mr. Chua Seng Hai and Ms. Lu Xuwen as non-executive Directors; and Mr. Chu Chung Yue, Howard, Dr. Zhang Weining and Mr. Yu Wenzhuo as independent non-executive Directors.

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