IGG Inc — Share Issue/Capital Change 2011

Jun 16, 2011

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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ORIENTAL WATCH HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(the “Company”)

(Stock Code: 398)

BONUS ISSUE OF SHARES

It is proposed to issue bonus shares to the shareholders of the Company whose names appear on the register of members on 28th July, 2011 on the basis of one Share for every five Shares held by such shareholders on such date.

BONUS ISSUE OF SHARES

In conjunction with the Company’s annual results for the year ended 31st March, 2011, the directors of the Company propose a bonus issue of shares of the Company to the shareholders of the Company on the register of members on 28th July, 2011 on the basis of one share of HK$0.10 of the Company (“Share”) for every five Shares held by such shareholders on such date (the “Bonus Issue”).

The Bonus Issue is conditional upon the approval of shareholders at the annual general meeting of the Company for the year ended 31st March, 2011 (the “AGM”) and the Listing Committee of The Stock Exchange of Hong Kong Limited granting a listing of and permission to deal in the Shares to be issued pursuant to the Bonus Issue.

ExpECTED TIMETABLE

The expected timetable of the Bonus Issue is as follows:

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Last day of dealing in Shares on a cum-entitlement basis . . . . . . . Wednesday, 20th July

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First day of dealing in Shares on an ex-entitlement basis . . . . . . . . . Thursday, 21st July

Latest time for lodging transfer of Shares in order . . . . . 4:30 p.m. on Friday, 22nd July to qualify for the Bonus Issue and the final dividend for the year ended 31st March, 2011

Register of members of the Company closes . . . . . . . . . . . . . . . . . . Monday, 25th July to (both days inclusive) Thursday, 28th July

Latest time for return of proxy form for the AGM . . . . 3:30 p.m. on Tuesday, 26th July AGM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3:30 p.m. on Thursday, 28th July Record date for the Bonus Issue . . . . . . . . . . . . . . . . . . . . . . . . . . . . Thursday, 28th July Announcement of results of the AGM . . . . . . . . . . . . . . . . . . . . . . . . Thursday, 28th July Register of members of the Company re-opens . . . . . . . . . . . . . . . . . . . Friday, 29th July Despatch of certificates for bonus Shares on or before . . . . . . . . . . Tuesday, 2nd August Commencement of dealings in bonus Shares . . . . . . . . . . . . . . . . . . Thursday, 4th August

GENERAL

A circular setting out the details of the Bonus Issue and incorporating a notice of the AGM will be sent to the shareholders of the Company as soon as practicable. By Order of the Board Yeung Ming Biu Chairman Hong Kong, 15th June, 2011

As at the date of this announcement, the executive directors of the Company are Mr. Yeung Ming Biu, Mr. Yeung Him Kit, Dennis, Mr. Fung Kwong Yiu, Ms. Yeung Man Yee, Shirley, Mr. Lam Hing Lun, Alain and Mr. Choi Kwok Yum; and the independent non-executive directors are Dr. Sun Ping Hsu, Samson, Dr. Li Sau Hung, Eddy and Mr. Choi Man Chau, Michael.

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