The board of directors of Next Digital Limited announced the resignations of all the directors of the Company with effect from on 5 September 2021. Mr. Ip Yut Kin has tendered his resignation as a non-executive director and chairman of the Company and Mr. Louis Gordon Crovitz, Dr. Mark Lambert Clifford and Mr. Lam Chung Yan, Elic have tendered their resignations as independent non-executive directors of the Company. The four members of the company Board of Directors are stepping down from their roles in order best to protect shareholders, creditors, employees and former employees. A timeline of events will help explain the reasons for this decision: The trading of shares in Next Digital have been suspended since 17 June 2021. On this day, two members of the Board of directors were arrested in Hong Kong and charged with violating the National Security Law. The same day, the Hong Kong Secretary for Security cited the National Security Law to freeze company bank accounts, including those for Apple Daily newspaper in Hong Kong and its digital operations. The Secretary for Security further instructed that it would be a crime for the Company to use its funds in other accounts to pay any expenses on behalf of these operations. This meant the Company could no longer legally pay Apple Daily's staff, including reporters, and the Company was also banned from paying costs of doing business such as buying ink and keeping the electricity on. The Company has assets, but was prohibited from using them. No court order was required to freeze assets under the terms of the National Security Law. As a result, the Board determined that it must close down the Apple Daily operations in Hong Kong. On 24 June 2021, Apple Daily and its digital operations ceased publishing. Finally, the communication required by the Stock Exchange of Hong Kong upon the resignation of directors: None of the four directors has any disagreement with the Board, and there are no matters needed to be brought to the attention of the shareholders of the Company in relation to the resignations. The Board is not aware of any other matters in relation to these resignations that would need to be brought to the attention of the shareholders of the Company.