IPE : POLL RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 23 MAY 2016 AND CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBER OF THE NOMINATION COMMITTEE

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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.

*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 929)

POLL RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 23 MAY 2016

AND

CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBER OF THE NOMINATION COMMITTEE

The Board is pleased to announce that:

1. All the resolutions proposed at the AGM held on 23 May 2016 were duly passed.

2. Mr. Nguyen, Van Tu Peter retired as an independent non-executive director of the Company at the AGM. He has also ceased to be a member of the nomination committee of the Company.

3. Mr. Hung, Randy King Kuen has been appointed as an independent non-executive director and a member of the nomination committee of the Company with effect from 23 May 2016.

* for identification purposes only

POLL RESULTS

The board of directors (the ''Board'') of IPE Group Limited (the ''Company'') is pleased to announce the poll results of the annual general meeting of the Company held on 23 May 2016 (the ''AGM'') as follows:

	Ordinary Resolutions	Number of Votes (%) (Note(a))
		For	Against
1.	To consider and receive the audited consolidated	947,331,815	0
	financial statements of the Company and the	(100.00%)	(0.00%)
	reports of the directors and auditors for the year
	ended 31 December 2015.
2.	To declare a final dividend of HK2.0 cents per	947,331,815	0
	share for the year ended 31 December 2015.	(100.00%)	(0.00%)
3.	To re-elect Mr. Yuen Chi Ho as an executive	925,141,815	22,190,000
	director of the Company.	(97.66%)	(2.34%)
4.	To re-elect Ms. Chiu Tak Chun as an executive	925,141,815	22,190,000
	director of the Company.	(97.66%)	(2.34%)
5.	To re-elect Mr. Zeng Guangsheng as an	771,076,815	176,255,000
	executive director of the Company.	(81.39%)	(18.61%)
6.	To re-elect Mr. Wu Kai Ping as an executive	768,201,815	179,130,000
	director of the Company.	(81.09%)	(18.91%)
7.	To re-elect Mr. Choi Hon Ting, Derek as an	947,331,815	0
	independent non-executive director of the	(100.00%)	(0.00%)
	Company.
8.	To authorize the Board to fix the respective directors' remuneration.	947,331,815 (100.00%)	0 (0.00%)
9.	To re-appoint Ernst & Young as auditors of the	947,331,815	0
	Company and to authorize the Board to fix auditors' remuneration.	(100.00%)	(0.00%)
10.	To give a general mandate to the directors of the Company to purchase the Company's shares not	947,331,815 (100.00%)	0 (0.00%)
	exceeding 10% of the total number of issued
	shares of the Company as at the date of passing
	of this resolution.
11.	To give a general mandate to the directors of the	558,501,815	388,830,000
	Company to issue, allot and deal with additional	(58.96%)	(41.04%)
	shares of the Company not exceeding 20% of the
	total number of issued shares of the Company as
	at the date of passing of this resolution.

	Ordinary Resolutions	Number of Votes (%) (Note(a))
		For	Against
12.	To extend the general mandate granted to the	922,266,815	25,065,000
	directors of the Company to issue, allot and deal	(97.35%)	(2.65%)
	with additional shares in the capital of the
	Company by the total number of shares
	repurchased by the Company.
13.	To refresh the scheme mandate limit under the	922,266,815	25,065,000
	existing share option scheme of the Company up	(97.35%)	(2.65%)
	to 10% of the total number of issued shares of
	the Company as at the date of passing of this
	resolution.

Notes:

1. The number and percentage of votes are based on the total number of shares of the Company voted by the shareholders of the Company at the AGM in person or by proxy.

2. As all/a majority of the votes were cast in favour of each of the resolutions nos. 1 to 13, all such ordinary resolutions were duly passed.

3. The total number of shares of the Company in issue as at the date of the AGM: 1,050,754,135 shares.

4. The total number of shares of the Company entitling the holder to attend and vote on the resolutions at the AGM: 1,050,754,135 shares.

5. The total number of shares of the Company entitling the holder to attend and 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 (the ''Listing Rules'') on The Stock Exchange of Hong Kong Limited (the ''Stock Exchange'')): Nil.

6. The total number of shares of the Company that are required under the Listing Rules to abstain from voting at the AGM: Nil.

7. None of the shareholders of the Company have stated their intention in the Company's circular dated 21 April 2016 to vote against or to abstain from voting on any of the resolutions at the AGM.

8. The Company's Branch Share Registrar in Hong Kong, Tricor Investor Services Limited, acted as the scrutineer for the vote-taking at the AGM.

CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBER OF THE NOMINATION COMMITTEE

The Board announces that Mr. Nguyen, Van Tu Peter (''Mr. Nguyen'') retired as an independent non-executive director of the Company at the AGM since he wishes to focus on his other business commitments. Upon his retirement, Mr. Nguyen has also ceased to be a member of the nomination committee of the Company. Mr. Nguyen has confirmed that he has no disagreement with the Board and the Company, and there are no matters that need to be brought to the attention of the shareholders of the Company in relation to his retirement.

The Board further announces that Mr. Hung, Randy King Kuen (''Mr. Hung'') has been appointed as an independent non-executive director and a member of the nomination committee of the Company with effect from 23 May 2016, to fill the vacancy left by the retirement of Mr. Nguyen. The biographical details of Mr. Hung are set out below:

Experience & qualifications

Mr. Hung, aged 50, holds an MBA degree from the University of London, a bachelor's degree of accounting and a certificate in programming and data processing from the University of Southern California. He also obtained a certificate in China Accounting, Finance, Taxation and Law from The Chinese University of Hong Kong and a specialist certificate in Corporate Finance from Hong Kong Securities and Investment Institute. Mr. Hung is a fellow of the Hong Kong Institute of Certified Public Accountants and a member of the American Institute of Certified Public Accountants. He is also a council member of the Hong Kong Institute of Directors and the vice-chairman of the Hong Kong Investor Relations Association. Currently, Mr. Hung is an executive director, the chief financial officer and the company secretary of China Fiber Optic Network System Group Ltd. (a company listed on the Main Board of the Stock Exchange, stock code: 3777) and an independent non-executive director of Zhongyu Gas Holdings Limited (a company listed on the Main Board of the Stock Exchange, stock code: 3633). He was a non-executive director of China Shineway Pharmaceutical Group Limited (a company listed on the Main Board of the Stock Exchange, stock code: 2877) and has been re-designated as an independent non- executive director since February 2014.

Save as disclosed above, Mr. Hung has not held directorships in the last three years in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas.

Length of service and director's emolument

Pursuant to the letter of appointment issued by the Company to Mr. Hung, the term of appointment of Mr. Hung is one year subject to retirement and re-election pursuant to the articles of association of the Company. Mr. Hung is entitled to receive a fixed director's emoluments of HK$100,000 per annum which was determined by the Board based on the recommendation of the Remuneration Committee of the Company with reference to his experience, duties and responsibilities.