Zhong Fa Zhan : POLL RESULTS OF 2019 ANNUAL GENERAL MEETING AND PROGRESS OF THE PROPOSED CHANGE OF COMPANY NAME

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ZHONG FA ZHAN HOLDINGS LIMITED

中發展控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 475)

POLL RESULTS OF

2019 ANNUAL GENERAL MEETING

AND

PROGRESS OF THE PROPOSED CHANGE OF

COMPANY NAME

The Board is pleased to announce that all resolutions proposed at the Annual General Meeting were duly passed by the Shareholders of the Company by way of poll.

References are made to the circular (the "Circular") of Zhong Fa Zhan Holdings Limited and the notice of the Annual General Meeting both dated 29 July 2019. Capitalised terms used in this announcement shall have the same meanings as defined in the Circular, unless the context requires otherwise.

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POLL RESULTS OF THE ANNUAL GENERAL MEETING

The Board is pleased to announce that all the proposed resolutions as set out in the notice of the Annual General Meeting (the "Resolutions") were duly passed at the Annual General Meeting held on 5 September 2019 by the Shareholders by way of poll. The poll results are set out as follows:

			Number of Votes
		Ordinary Resolutions	(approximately%)
			For	Against
1.	To receive and consider the audited consolidated	226,788,350	-
	financial statements and the reports of the directors	(100%)	(0%)
	and auditors for the year ended 31 March 2019.
2A.	a.	To re-elect Mr. Hu Yangjun as executive	226,788,350	-
		director.	(100%)	(0%)
	b.	To re-elect Mr. Chan Wing Yuen, Hubert as	226,788,350	-
		executive director.	(100%)	(0%)
	c.	To re-elect Mr. Jin Qingjun as independent	226,788,350	-
		non-executive director.	(100%)	(0%)
	d.	T o r e - e l e c t M s . S u n I v y C o n n i e a s	226,788,350	-
		independent non-executive director.	(100%)	(0%)
2B.	To	authorize the Board to appoint additional	226,788,350	-
	directors not exceeding the maximum number.	(100%)	(0%)
2C.	To authorize the Board to fix the Directors'	226,788,350	-
	remuneration.	(100%)	(0%)
3.	To re-appoint Deloitte Touche Tohmatsu as	226,788,350	-
	auditors of the Company and to authorize the	(100%)	(0%)
	Board to fix their remuneration.
4A.	To grant a general mandate to the Directors to	226,788,350	-
	issue and allot shares.	(100%)	(0%)
4B.	To grant a general mandate to the Directors to	226,788,350	-
	repurchase the Company's own shares.	(100%)	(0%)
4C.	To extend the mandate granted under resolution	226,788,350	-
	4A by including the aggregate number of the	(100%)	(0%)
	shares repurchased by the Company pursuant to
	resolution 4B.
5.	To approve the refreshment of the scheme limit	226,788,350	-
	under the share option scheme of the Company	(100%)	(0%)
	adopted on 9 September 2016.

	Special Resolutions	Number of Votes
	(approximately%)
		For	Against
6.	To approve the change of English name of the	226,788,350	-
	Company from "Zhong Fa Zhan Holdings Limited"	(100%)	(0%)
	to "Central Development Holdings Limited" and
	the existing Chinese name of the Company "中發
	展控股有限公司" will remain unchanged.

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Note: Please refer to the notice of the Annual General Meeting for the full version of the above Resolutions.

The Company's branch share registrar, Tricor Investor Services Limited, acted as the scrutineer for the poll at the Annual General Meeting.

As at the date of the Annual General Meeting, the number of issued shares of the Company was 338,154,000 shares, which was the total number of shares entitling the holders to attend and vote for or against the Resolutions at the Annual General Meeting. There were no shares of the Company entitling the Shareholders to attend but abstain from voting in favour of the resolutions at the AGM as set out in Rule 13.40 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). No Shareholder was required to abstain from voting at the AGM under the Listing Rules. There was no restriction on any Shareholder to cast votes on any of the resolutions at the AGM.

As more than 50% of the votes were casted in favour of each of Resolutions 1, 2A to 2C, 3, 4A to 4C and 5, Resolutions 1, 2A to 2C, 3, 4A to 4C and 5 were passed as ordinary resolutions of the Company.

As more than 75% of the votes were casted in favour of the resolution no. 6, the resolution was duly passed as a special resolution of the Company.

UPDATE ON THE CHANGE OF COMPANY NAME

As the special resolution in relation to Change of Company Name was duly passed by the Shareholders at the AGM, the Change of Company Name will become effective on the date on which the Registrar of Companies in the Cayman Islands enters the Company's new English name and the existing Chinese name on the register maintained by the Registrar of Companies in the Cayman Islands. The Company will then comply with the necessary filing procedures in Hong Kong with the Hong Kong Companies Registry and the Stock Exchange.

Further announcement(s) will be made by the Company to inform the Shareholders of, among other things, the effective date of the Change of Company Name and the new English stock short name of the Company for trading of the shares of the Company on the Stock Exchange, as and when appropriate.

By Order of the Board

Zhong Fa Zhan Holdings Limited

Chan Wing Yuen, Hubert

Chief Executive & Executive Director

Hong Kong, 5 September 2019

As at the date of this announcement, the Board consists of three executive Directors, namely Mr . Wu Hao, Mr . Hu Yangjun, and Mr . Chan Wing Yuen, Hubert; a non-executive Director, Mr. Li Wei Qi, Jacky; and three independent non-executive Directors, namely Mr. Wu Chi Keung, Mr. Jin Qingjun and Ms. Sun Ivy Connie.

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