Ascletis Pharma Inc. — Board/Management Information 2016

Mar 18, 2016

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.

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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 EXECUTIVE DIRECTOR

The Board announces that Mr. Kwong Bau To has been appointed as an Executive Director of the Company with effect from 18 March 2016.

The board of directors (the “Board”) of World Houseware (Holdings) Limited (the “Company”) and its subsidiaries (the “Group”) is pleased to announce that Mr. Kwong Bau To (“Mr. Kwong”) has been appointed as an Executive Director of the Company with effect from 18 March 2016.

Mr. Kwong, aged 60, is responsible to assist the development of the business for food waste recycling in Hong Kong and other development projects. He has gained extensive experience in engineering and marketing field by working with sizable corporations in Hong Kong in the past and had been an Executive Director of the Company for over 4 years from 6 September 2005 to 9 May 2010. He returned to serve the Group in 2014 and is currently the director of South China Reborn Resources (Zhongshan) Company Limited, a wholly owned subsidiary of the Company.

Mr. Kwong 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 3 years preceding the date of this announcement. Mr. Kwong has been granted the Company’s share options of 3,000,000 shares with exercise price of HK$0.58 on 1 September 2015 which shall be exercisable during the period of 10 years from the date of grant (the “Share options”). None of the Share Options has been exercised by Mr. Kwong as at the date of this announcement, and Mr. Kwong has a beneficial personal interest of 3,103 shares in the Company within the meaning of Part XV of the Securities and Futures Ordinance. He does not have any relationships with any directors, senior management or substantial or controlling shareholders of the Company.

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There is no service agreement entered into between Mr. Kwong and the Company. In accordance with the Company’s Articles of Association, Mr. Kwong is subject to retirement by rotation and re-election at the general meetings of the Company. It is proposed that Mr. Kwong shall receive an emolument of approximately HK$840,000 per annum and a discretionary bonus to be decided by the Company. Such remuneration terms were determined with reference to Mr. Kwong’s duties and responsibilities with the Company and the prevailing market condition.

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. Kwong 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. Kwong for joining the Board.

By Order of the Board Lee Tat Hing Chairman

Hong Kong, 18 March 2016

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, Madam Chan Lai Kuen Anita, Mr. Lee Kwok Sing Stanley and Mr. Kwong Bau To; 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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