Results of General Meeting of Shareholders held December 29, 2017

​Parnell Pharmaceuticals Holdings Ltd (OTC:PARNF), a fully integrated, commercial-stage pharmaceutical company focused on developing, manufacturing and marketing innovative animal health solutions, today announced the results of the resolution presented at its General Meeting of Shareholders held 29^th December 2017 (Australian Eastern Standard Time).

Submission of Matters to a Vote of Shareholders

On December 29, 2017 (AEST), the Company held a General Meeting of Shareholders (GM). The resolution subject to a vote at the GM was described in detail in the Company's Notice of General Meeting and Explanatory Memorandum dated November 21, 2017.

The purpose of the meeting was for shareholders to consider and vote on a resolution for the removal of Robert Joseph as a director of the Company.

The total number of shares voted by shareholders on the resolution was 12,246,090 shares and equated to 67.93% of the total number of shares outstanding. As such a majority of shareholders constituted a quorum for the GM.

The proxy count on the resolution was reported to the meeting as follows:

The Chairman put the resolution to a vote taken by a show of hands (on the voices) and the Chairman declared the resolution passed by the meeting.

The removal of director was then effected by the Company on 29 December 2017 (AEST).