The board of directors of Milan Station Holdings Limited announced that Mr. Chau Shing Yip, Colin, an independent non-executive director of the company, has resigned as INED with effect from December 29, 2017 due to Mr. Chau's other commitments have become too great for him to be able to fulfill the requirements of his position on the board. Mr. Chau confirmed that there is no disagreement with the board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the company. The board further announced that with effect from December 29, 2017, Mr. Chau ceased to be the member of the audit committee of the board. Upon the resignation of Mr. Chau, the board comprises two executive Directors and two independent non-executive Directors.