Lee and Man Paper Manufacturing : Poll Results of the Annual General Meeting

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 liabilities whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

*

(Incorporated in the Cayman Islands and its members' liability is limited)

(Stock Code: 2314)

POLL RESULTS OF THE ANNUAL GENERAL MEETING

The Board is pleased to announce that, on 30 April 2021, the Company held the AGM at which the ordinary resolutions proposed in the AGM Notice were duly passed.

The board of directors (the "Board") of Lee & Man Paper Manufacturing Limited (the "Company") is pleased to announce that, at the Annual General Meeting (the "AGM") held on 30 April 2021, the ordinary resolutions proposed in the notice of the AGM dated 29 March 2021 (the "Notice") were duly passed by the shareholders of the Company (the "Shareholders") present thereat by way of poll voting in which Tricor Investor Services Limited acted as scrutineer for the vote taking.

As at the date of the AGM, the total number of issued shares of the Company (the "Shares") was 4,346,642,000 Shares. No Shareholders were required to abstain from voting at the AGM. Accordingly, the total number of Shares entitling the Shareholders to attend and vote at the AGM for or against the ordinary resolutions set out in the AGM Notice was 4,346,642,000.

The Shares representing the votes cast for or against the resolutions voted upon by the Shareholders at the AGM were as follows:

	Ordinary Resolutions	No. of Shares (%)	Total number
	For	Against	of votes
1.	To receive, consider and adopt the audited	2,417,327,436	8,190,011	2,425,517,447
	consolidated financial statements and the	(99.66%)	(0.34%)
	reports of the directors and of the auditors
	of the Company for the year ended 31
	December 2020.

• For identification purposes only

- 1 -

	Ordinary Resolutions	No. of Shares (%)	Total number
	For	Against	of votes
2.	To declare a final dividend for the year	2,425,517,436	11	2,425,517,447
	ended 31 December 2020.	(99.99%)	(0.01%)
3.	To re-elect Professor Poon Chung Kwong as	2,361,003,148	64,514,299	2,425,517,447
	a non-executive director of the Company.	(97.34%)	(2.66%)
4.	To re-elect Mr. Wong Kai Tung Tony as	2,291,867,098	133,650,349	2,425,517,447
	an independent non-executive director of	(94.49%)	(5.51%)
	the Company.
5.	To authorise the board of directors	2,415,264,820	10,252,627	2,425,517,447
	("Directors") of the Company to approve	(99.58%)	(0.42%)
	and confirm the terms of appointment
	(including remuneration) for Mr. Peter
	A. Davies, an independent non-executive
	director of the Company.
6.	To authorise the Directors of the Company	2,277,098,527	148,418,920	2,425,517,447
	to approve and confirm the terms of	(93.88%)	(6.12%)
	appointment (including remuneration)
	for Mr . Chau Shing Yim David, an
	independent non-executive director of the
	Company.
7.	To approve, confirm and ratify the	2,278,908,044	146,609,403	2,425,517,447
	remuneration paid to directors for the year	(93.96%)	(6.04%)
	ended 31 December 2020 as set out in the
	annual report of the Company for the year
	ended 31 December 2020.
8.	To authorise the Directors of the Company	2,273,534,527	151,982,920	2,425,517,447
	to fix the remuneration of the directors	(93.73%)	(6.27%)
	for the year ending 31 December 2021 in
	accordance with their service contracts
	or letters of appointment. The bonuses in
	favour of the Directors shall be decided
	by the majority of the Directors provided
	that the total amount of bonus payable
	to all the Directors in respect of any one
	financial year shall not exceed 10% of
	the consolidated profit after taxation of
	the Company and its subsidiaries for the
	relevant year.
9.	To re-appoint Messrs. Deloitte Touche	2,412,489,870	13,027,577	2,425,517,447
	Tohmatsu as auditors for the ensuing year	(99.46%)	(0.54%)
	and to authorise the Directors to fix their
	remuneration.

- 2 -

	Ordinary Resolutions	No. of Shares (%)	Total number
	For	Against	of votes
10.	To grant the general mandate to the	1,882,155,761	543,361,686	2,425,517,447
	Directors of the Company to allot, issue	(77.60%)	(22.40%)
	and deal with the Company's shares not
	exceeding 20% of the issued share capital
	of the Company, in the terms as set out
	in ordinary resolution number 10 in the
	Notice.
11.	To grant a general mandate to the Directors	2,417,161,326	7,300,011	2,424,461,337
	o f t h e C o m p a n y t o r e p u r c h a s e t h e	(99.70%)	(0.30%)
	Company's shares not exceeding 10% of
	the issued share capital of the Company, in
	the terms as set out in ordinary resolution
	number 11 in the Notice.
12.	To approve the extension of the general	1,886,824,278	538,693,169	2,425,517,447
	mandate to be granted to the Directors of	(77.79%)	(22.21%)
	the Company to allot, issue and deal with
	the Company's shares by an amount not
	exceeding the amount of the Company's
	shares repurchased by the Company, in
	the terms as set out in ordinary resolution
	number 12 in the Notice.

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

By order of the Board

Lee & Man Paper Manufacturing Limited

Cheung Kwok Keung

Company Secretary

Hong Kong, 30 April 2021

As at the date of this announcement, the board of directors of the Company comprises three executive directors, namely Dr. Lee Man Chun Raymond, Mr. Lee Man Bun and Mr. Li King Wai Ross, one non-executive director, namely Professor Poon Chung Kwong, and three independent non-executive directors, namely Mr. Wong Kai Tung Tony, Mr. Peter A. Davies and Mr. Chau Shing Yim David.

- 3 -