FDG Kinetic : POLL RESULTS OF THE SPECIAL GENERAL MEETING HELD ON 10 MARCH 2021

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FDG Kinetic Limited 五龍動力有限公司

(Receivers and Managers Appointed) (Incorporated in Bermuda with limited liability)

(Stock Code: 378)

POLL RESULTS OF THE SPECIAL GENERAL MEETING

HELD ON 10 MARCH 2021

Reference is made to the circular of FDG Kinetic Limited (Receivers and Managers Appointed) (the "Company") dated 10 February 2021 (the "Circular") in relation to, among other matters, the Capital Reorganisation and the Rights Issue. Capitalised terms used in this announcement shall have the same meanings as those defined in the Circular, unless otherwise defined herein.

The Board announces that at the special general meeting of the Company held on 10 March 2021 (the "SGM"), none of the resolutions as set out in the notice of the SGM dated 10 February 2021 were passed by way of poll. The Company's branch share registrar in Hong Kong, Computershare Hong Kong Investor Services Limited, was appointed as the scrutineer for vote-taking at the SGM.

Details of the poll results are set out as follows:

1.

As less than 75% of the votes were cast in favour of the above resolution, the above resolution was not passed as special resolution of the Company.

As less than 50% of the votes were cast in favour of the above resolution, the above resolution was not passed as ordinary resolution of the Company.

Note:The full text of each resolution was set out in the notice of the SGM.

As at the date of the SGM, the total number of issued Shares of the Company was 6,753,293,913 Shares, which was the total number of Shares entitling the Shareholders to attend and vote for or against resolution numbered 1 proposed at the SGM.

As disclosed in the Circular, (i) FDG Electric Vehicles Limited ("FDG EV"), being the controlling shareholder of the Company, and its associates shall abstain from voting in favour of but may vote against the Rights Issue at the SGM; and (ii) the Company was informed by the joint provisional liquidators of FDG EV that they intend to vote against the proposed Rights Issue. As at the date of the SGM, Sinopoly Strategic Investment Limited and Union Grace Holdings Limited (both of which are wholly-owned subsidiaries of FDG EV), were holding an aggregate of 4,713,851,784 Shares and accordingly, the total number of Shares entitling Shareholders to attend and vote for or against resolution numbered 2 proposed at the SGM were 2,039,442,129 Shares (representing approximately 30.20% of the total number of Shares in issue) and 6,753,293,913 Shares (representing 100% of the total number of Shares in issue) respectively.

Save as disclosed above, (a) no Shareholder was required under the Listing Rules to abstain from voting on the resolutions at the SGM; (b) no Shareholder had indicated his/its intention in the Circular to vote against or abstain from voting on the resolutions at the SGM; and (c) there were no Shares entitling the holders to attend but requiring the holders to abstain from voting in favour of the resolutions at the SGM pursuant to Rule 13.40 of the Listing Rules.

On behalf of the Board

FDG Kinetic Limited (Receivers and Managers Appointed)

Jaime Che

Chief Executive Officer

Hong Kong, 10 March 2021

As at the date of this announcement, the Board comprises Mr. Jaime Che (Chief Executive Officer) and Mr. Cao Zhong (suspended) as executive directors; and Mr. Hung Chi Yuen Andrew and Mr. Toh Hock Ghim as independent non-executive directors.

Website:http://www.fdgkinetic.com