The board of directors of Innovax Holdings Limited received the resignation letter tendered by Mr. Cheung Kwok Kwan JP as a director of the company, on 11 March 2020. Mr. Cheung has resigned from his position as a director of the Company and a member of Audit Committee with effect from 29 February 2020 due to his wishes to devote more time to his personal commitments. Following his resignation, Mr. Cheung ceased to be a member of the audit committee of the Board. Mr. Cheung confirmed that there is no disagreement with the Board and there are no other matters in relation to his resignation that need to be brought to the attention of The Stock Exchange of Hong Kong Limited, the shareholders of the Company and/or potential investors of the Company.