Man Wah : SUPPLEMENTARY VOLUNTARY ANNOUNCEMENT ON-MARKET REPURCHASE OF SHARES

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MAN WAH HOLDINGS LIMITED

敏 華 控 股 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 01999)

SUPPLEMENTARY VOLUNTARY ANNOUNCEMENT

ON-MARKET REPURCHASE OF SHARES

This supplementary announcement is made by Man Wah Holdings Limited (the "Company") on a voluntary basis.

The board of directors (the "Board") of the Company announces that the Company has on 25 September 2019 repurchased on-market 2,198,800 shares of the Company pursuant to the general mandate to repurchase shares granted by the shareholders of the Company to the Board at the annual general meeting of the Company held on 5 July 2019. The highest purchase price per share was HK$4.68 and the lowest purchase price per share was HK$4.65, and an aggregate of HK$10,273,453.24 (before brokerage and expenses) was utilised by the Company for such repurchase. The Company will subsequently cancel the repurchased shares.

Currently the cash flow from operational activities of the Company is strong and healthy. The Board of the Company believes the share repurchase and subsequent cancellation of the repurchased shares can improve the return to shareholders. The share repurchase also reflects the confidence of the Board to the prospects of the Company.

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The Company may make further repurchase depending on market conditions. Shareholders and investors should note that whether or not to repurchase any further shares will be subject to market conditions and will be further subject to the Board's absolute discretion. There is no assurance of the timing, quantity or price of any share repurchases or whether the Company will make any further repurchases at all. Shareholders and investors are reminded to exercise caution when dealing in the securities of the Company.

By Order of the Board

Man Wah Holdings Limited

Wong Man Li

Chairman

Hong Kong, 25 September 2019

As at the date of this announcement, the executive Directors are Mr. Wong Man Li, Ms. Hui Wai Hing, Mr. Tsang Hoi Lam, Mr. Alan Marnie, Mr. Dai Quanfa and Ms. Wong Ying Ying; and the independent non-executive Directors are Mr. Chau Shing Yim, David, Mr. Ong Chor Wei and Mr. Kan Chung Nin, Tony and Mr. Ding Yuan.

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