Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PYI Corporation Limited

(Incorporated in Bermuda with limited liability)

(Stock code: 498) POLL RESULTS OF THE SPECIAL GENERAL MEETING

Reference is made to the announcement of the Company dated 19 November 2012 and the circular of the Company dated 21 December 2012 (the "Circular") in relation to the deemed disposal of a very substantial interest of PYI in PYE arising by virtue of the Placing and, or, the Contingent Placing. Unless otherwise defined, terms used herein shall have the same meanings as those defined in the Circular.
At the PYI SGM, a poll was demanded by the chairman for voting on the proposed resolutions as set out in the notice of the PYI SGM contained in the Circular. The branch share registrar of the Company in Hong Kong, Tricor Secretaries Limited, acted as the scrutineer at the PYI SGM for the purpose of vote-taking.
The PYI Board is pleased to announce that the ordinary resolution approving the Deemed Disposal and the transactions contemplated thereunder was duly passed by the independent PYI Shareholders by way of poll, and that the ordinary resolution approving the re-election of Ms Wong Lai Kin Elsa as an independent non-executive director of the Company was duly passed by the PYI
Shareholders by way of poll. The poll results in respect of the resolutions are as follows:

Ordinary Resolutions

Number of Votes

(approximate %)

Ordinary Resolutions

For

Against

1.

To approve, ratify and confirm the Deemed Disposal and the transactions contemplated thereunder

1,247,340,785 (99.84%)

2,058,271 (0.16%)

2.

To re-elect Ms Wong Lai Kin Elsa as an independent non-executive director of the Company

2,510,248,511 (99.92%)

2,058,271 (0.08%)

As more than 50% of the votes were cast in favour of each of the above resolutions, all of the above resolutions were duly passed as ordinary resolutions.

As at the date of the PYI SGM, the total number of Shares in issue was 4,577,360,572 Shares which were held by the PYI Shareholders who were entitled to attend and vote for or against the ordinary resolution relating to the re-election of Ms Wong Lai Kin Elsa as an independent non-executive director at the PYI SGM. As stated in the Circular, ITC Corporation and its associates (who together held an aggregate of 1,226,971,695 Shares, representing approximately 26.81% of the issued share capital of the Company as at the date of the PYI SGM) and Dr. Chan Kwok Keung, Charles (who,
1
apart from his deemed interest in ITC Corporation, also personally held 35,936,031 Shares, representing approximately 0.78% of the issued share capital of the Company as at the date of the PYI SGM) were required to and they did abstain from voting on the ordinary resolution approving the Deemed Disposal and the transactions contemplated thereunder at the PYI SGM. As such, a total of
3,314,452,846 Shares, representing approximately 72.41% of the issued share capital of the Company as at the date of the PYI SGM, were held by the independent PYI Shareholders who were entitled to attend and vote for or against the ordinary resolution relating to the Deemed Disposal and the transactions contemplated thereunder at the PYI SGM. None of the PYI Shareholders was entitled to vote only against the ordinary resolutions at the PYI SGM.
By Order of the Board PYI Corporation Limited Ko Hiu Fung

Company Secretary

Hong Kong, 18 January 2013
As at the date of this announcement, the PYI Directors are as follows:
Mr Lau Ko Yuen, Tom : Chairman and Managing Director
Mr Chan Yiu Lun, Alan : Executive Director
Dr Chan Kwok Keung, Charles : Non-Executive Director

(with Mr Chan Yiu Lun, Alan as alternate)

Mr Chan Shu Kin : Independent Non-Executive Director Mr Leung Po Wing, Bowen Joseph GBS, JP : Independent Non-Executive Director Mr Li Chang An : Independent Non-Executive Director Ms Wong Lai Kin Elsa : Independent Non-Executive Director
2

distributed by