Ascletis Pharma Inc. — Board/Management Information 2012

Nov 1, 2012

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世 界 ( 集 團 ) 有 限 公 司 WORLD HOUSEWARE (HOLDINGS) LIMITED (Incorporated in the Cayman Islands with limited liability) (Stock Code: 713)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR, MEMBER OF AUDIT COMMITTEE, MEMBER OF REMUNERATION COMMITTEE AND MEMBER OF NOMINATION COMMITTEE

The Board announces that Mr. Shang Sze Ming is appointed as an Independent Nonexecutive Director, member of Audit Committee, member of Remuneration Committee and member of Nomination Committee of the Company with effect from 1 November 2012.

The board of directors (the “Board”) of World Houseware (Holdings) Limited (the “Company”) is pleased to announce that Mr. Shang Sze Ming (“Mr. Shang”) is appointed as an Independent Non-executive Director of the Company, member of the Company’s audit committee (the “Audit Committee”), member of the Company’s remuneration committee (the “Remuneration Committee”) and member of the Company’s nomination committee (the “Nomination Committee”) with effect from 1 November 2012.

Mr. Shang, aged 52, graduated from The Ohio State University of The United States of America with a bachelor’s degree of Science in Business Administration. He also obtained his Master’s degree of Business Administration in Finance and Master’s degree of Science in Financial Services - Investment from Golden Gate University of The United States of America.

Mr. Shang has extensive experience in investment and management for over eighteen years. He was appointed as Senior Investment Analyst in two securities companies and as Investor Relations Manager in a large listed company.

Mr. Shang did not hold any other position in the Company and other members of the Company’s group and did not hold any directorship in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the three years preceding the date of this announcement.

As at the date of this announcement, Mr. Shang does not have any interest in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance nor any relationships with any directors, senior management or substantial or controlling shareholders of the Company.

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Mr. Shang has entered into a service agreement with the Company for a period of three years commencing from 1 November 2012 with an annual director’s fee of HK$180,000, which is determined by the Board with reference to Mr. Shang’s duties and responsibilities with the Company and the prevailing market condition. He will be subject to retirement by rotation and re-election at annual general meeting of the Company in accordance with the Articles of Association of the Company.

Save as disclosed in this announcement, there is no further information to be disclosed pursuant to any of the requirements of paragraphs (h) to (v) of Rule 13.51(2) of the Listing Rules in relation to the appointment of Mr. Shang and there is no other matter that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its warm welcome to Mr. Shang for joining the Board.

By Order of the Board Lee Tat Hing Chairman

Hong Kong, 1 November 2012

As at the date of this announcement, the executive directors of the Company are Mr. Lee Tat Hing, Madam Fung Mei Po, Mr. Lee Chun Sing, Lee Pak Tung and Madam Chan Lai Kuen Anita; the non-executive director of the Company is Mr. Cheung Tze Man Edward; the independent non-executive directors of the Company are Mr. Tsui Chi Him Steve, Mr. Hui Chi Kuen Thomas, Mr. Ho Tak Kay and Mr. Shang Sze Ming.

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