It’s obviously a watch that belonged to Mr Ross Honours, who was born on 16th March 1910. He had a very active life, and fathered triplets (all boys, called Iain, Neil & Cameron) that were born on 8th April 1978. This watch was gifted to him to commemorate the birth.
Alternatively, if you’re in the US Mr Honours was born on the 3rd of the sixteenth month in 1910, and the triplets were born on the 4th August 1978 😉