The board of directors of C.P. Lotus Corporation announced the resignation of Mr. Piyawat Titasattavorakul as executive director of the company with effect from 10 November, 2016 to focus on his positions outside the company and its subsidiaries. Mr. Piyawat Titasattavorakul has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.