International Housewares Retail : VOLUNTARY ANNOUNCEMENT - SHARES REPURCHASE

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International Housewares Retail Company Limited

國際家居零售有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1373) VOLUNTARY ANNOUNCEMENT SHARES REPURCHASE

This announcement is made voluntarily by International Housewares Retail Company Limited (the "Company"). Pursuant to the general mandate granted to the board of directors (the "Board") of the Company to repurchase shares at the annual general meeting of the Company held on 26 September 2016, the Company purchased 300,000 ordinary shares of the Company on 7 August 2017 at the highest and lowest prices of HK$1.47 and HK$1.45 per share respectively ("Shares Repurchase"). The aggregate purchase price paid (including transaction cost) for the Shares Repurchase was approximately HK$440,000. The Shares Repurchase represents approximately 0.042% of the existing total number of issued shares of the Company as at the date of this announcement. The Company will subsequently cancel the repurchased shares. At the date of this announcement, the Company repurchased a total of 7,682,000 shares on the Hong Kong Stock Exchange.

The Board considers that the value of the Company's shares is consistently undervalued. The Board believes that the current financial resources of the Company would enable it to conduct the Shares Repurchase while maintaining a solid financial position for the continuation of the Company's business in the current financial year.

By Order of the Board of

International Housewares Retail Company Limited NGAI Lai Ha

Chairman and Executive Director

Hong Kong, 7 August 2017

As at the date of this announcement, the executive Directors are Mr. LAU Pak Fai Peter, Ms. NGAI Lai Ha, Mr. CHENG Sing Yuk and Mr. CHONG Siu Hong, and the independent non-executive Directors are Mr. MANG Wing Ming Rene, Mr. NEO Sei Lin, Christopher and Mr. YEE Boon Yip.