Highway Holdings Limited received a notice from Kevin Yang Kuang Yu that he was resigning from Registrant's Board of Directors. Likewise, on September 2 and September 5, the Registrant also received resignation notices from George Leung Wing Chan and Uri Bernhard Oppenheimer, respectively. All resignation notices stated that the former directors were resigning effective immediately.

None of the resignation notices stated that their resignations were due to any disagreements with the Registrant regarding any issues relating to the Registrant's operations, policies or practices.