Hong Kong Exchanges and Clearing : INSIDE INFORMATION UPDATE ON THE TAISHAN LEGAL PROCEEDING

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.

International Standard Resources Holdings Limited

標 準 資 源 控 股 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 91)

INSIDE INFORMATION

UPDATE ON THE TAISHAN LEGAL PROCEEDING

This announcement is made by International Standard Resources Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

Reference is made to the announcement of the Company dated 2 August 2019 (the "Announcement") in relation to, among others, the Taishan Legal Proceeding for default in payment of outstanding engineering fees under agreement in an aggregate amount of RMB736,898, and all related interests and expenses. Unless the context requires otherwise, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

The board of directors of the Company was informed that Can-Elite, on 20 September 2019, received a civil mediation order (民事調解書) and a civil judgement (民事裁定書) dated 10 September 2019 and 12 September 2019 issued by the Beijing Dongcheng Court respectively. Pursuant to the civil mediation order (民事調解書), Can-Elite shall

1. settle an aggregate amount of RMB132,000 by transferring 69 sets of casing with model numberΦ139 (N80) to Taishan; (ii) repay Taishan in an aggregate amount of RMB200,000 before 15 October 2019; (iii) repay Taishan in an aggregate amount RMB404,898 by three installments, payable on or before 30 November 2019, 23 January
   2020 and 31 March 2020 respectively; and (iv) pay all related interest expenses for any default in such installment payments. Pursuant to the civil judgement (民事裁定書), the frozen of bank accounts of Can-Elite up to the amount of RMB830,000 or other assets of equivalent value was released.

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Shareholders of the Company and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

International Standard Resources Holdings Limited

Lo Tsz Fung Philip

Executive Director

Hong Kong, 23 September 2019

As at the date of this announcement, the executive directors of the Company are Mr. Cheng Wai Keung, Mr. Lo Tsz Fung Philip and Mr. Tam Tak Wah and the independent non-executive directors of the Company are Mr. Chan Tsz Kit, Mr. Chan Yim Por Bonnie and Mr. Wang Li.

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