Auto Italia Holdings Limited announced that the Board announces that pursuant to the Bye-laws of the Company, the Board revoked the authority delegated to the Financial Control Committee and the Financial Control Committee was dissolved on 28 March 2019. Mr. CHONG Tin Lung Benny resigned as chairman of the Financial Control Committee and Mr. LAM Chi Yan resigned as member of the Financial Control Committee with effect from 28 March 2019. The Board revoked the appointment of Mr. CHONG as chairman of the Financial Control Committee and Mr. LAM as members of the Financial Control Committee with effect from 28 March 2019. Mr. CHONG has confirmed that he has no disagreement with the Board and is not aware of any matter in relation to his resignation of chairman of the Financial Contract Committee that needs to be brought to the attention of the holders of securities of the Company. Mr. LAM has confirmed that he has no disagreement with the Board and is not aware of any matter in relation to his resignation as a member of the Financial Contract Committee that needs to be brought to the attention of the holders of securities of the Company. Following the resignation of Mr. CHONG as chairman of the Financial Control Committee and the resignation of Mr. LAM as members of the Financial Control Committee, Mr. CHONG and Mr. LAM remain as the Executive Directors. Mr. CHONG is also the Executive Chairman, Chief Executive Officer, the chairman of each of the Nomination Committee and Executive Directors' Committee and a member of the Remuneration Committee. Mr. LAM is also a member of the Executive Directors' Committee.