<SEC-DOCUMENT>0001144204-15-057313.txt : 20150930
<SEC-HEADER>0001144204-15-057313.hdr.sgml : 20150930
<ACCEPTANCE-DATETIME>20150930083024
ACCESSION NUMBER:		0001144204-15-057313
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20150930
FILED AS OF DATE:		20150930
DATE AS OF CHANGE:		20150930

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HIGHWAY HOLDINGS LTD
		CENTRAL INDEX KEY:			0001026785
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS FABRICATED METAL PRODUCTS [3490]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28990
		FILM NUMBER:		151132786

	BUSINESS ADDRESS:	
		STREET 1:		LEVEL 18 LANDMARK N 39 LUNG SUM AVE
		STREET 2:		STE 1801
		CITY:			SHEUNG SHUI
		STATE:			K3
		ZIP:			00000
		BUSINESS PHONE:		011-86-755-2813-6056

	MAIL ADDRESS:	
		STREET 1:		LEVEL 18 LANDMARK N 39 LUNG SUM AVE
		STREET 2:		STE 1801
		CITY:			SHEUNG SHUI
		STATE:			K3
		ZIP:			999999999
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v419925_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">REPORT OF FOREIGN ISSUER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PURSUANT TO RULE 13a-16 OR 15d-16 OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">THE SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">For the month of September 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>HIGHWAY HOLDINGS
LIMITED</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Translation of Registrant's Name Into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Suite 1801, Level 18</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Landmark North</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">39 Lung Sum Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Sheung Shui</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>______New Territories, Hong Kong________</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(Indicate by check
mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 20-F&nbsp;&nbsp;<U> &nbsp;&nbsp;X&nbsp;&nbsp; </U> &nbsp;&nbsp;&nbsp;&nbsp;Form 40-F ___</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(Indicate by check
mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Yes ___ &nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&nbsp;
<U> &nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(If &quot;Yes&quot;
is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-_______________.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amendments to Memorandum and Articles
of Association.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Highway
Holdings Limited (the &ldquo;Company&rdquo;) is a British Virgin Islands company. In the British Virgin Islands, a
company&rsquo;s charter documents that are comparable to a US-domestic corporation&rsquo;s articles or certificate of
incorporation and bylaws are called Memorandum of Association and Articles of Association. On August 6, 2015, the Company
filed an amendment with the British Virgin Islands Registrar of Corporate Affairs to amend the Articles of Association. A
copy of the Amendment to the Articles of Association as filed with the Registrar of Corporate Affairs of the British Virgin
Islands on August 6, 2015 is attached hereto as Exhibit 1.1. The amendment to the Articles of Association includes the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A.&#9;&nbsp;&nbsp;The procedures for nominating a person
for election to the Board of Directors have been clarified to become more consistent with procedures used by public companies in
the United States. The new provisions clarify that, among other things, (i) nominations must be made by existing shareholders,
(ii) the nominations must be received not less than ninety (90) days prior to the first anniversary of the preceding year&rsquo;s
annual meeting, and (iii) any nomination must include the type of information needed in order to enable the Company to comply with
its disclosure requirements under the Securities Exchange Act of 1934 (the &ldquo;Exchange Act&rdquo;). The proposed nominee must
furnish the Company with such other information as the Company deems necessary to determine whether the nominee can serve as an
independent director of the Company, and whether the election of the nominee will jeopardize the Company&rsquo;s eligibility to
continue as a &ldquo;foreign private issuer&rdquo; under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">B.&#9;&nbsp;&nbsp;The requirement that any action required
or permitted to be taken by the shareholders of the Company must be effected at a duly called meeting of the shareholders and may
not be effected by any consent in writing by shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">C.&#9;&nbsp;&nbsp;The directors are required to convene
a meeting of the shareholders upon the written request of shareholders holding 25% or more of the outstanding voting shares of
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Exhibit Number</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.4in; text-align: left">1.1</TD><TD STYLE="text-align: justify">Form of Amendment to Articles of Association, filed on
August 6, 2015.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.4in; text-align: left">15.1</TD><TD STYLE="text-align: justify">Press release, dated September 30, 2015.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify">HIGHWAY HOLDINGS LIMITED</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Date:&nbsp;&nbsp;September 30, 2015</TD>
    <TD STYLE="text-align: justify">By&nbsp;&nbsp;&nbsp;<U> /s/ ROLAND W. KOHL</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 0.25in">Roland W. Kohl</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in">Chief Executive Officer</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>v419925_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: right; text-indent: -0.5in"><U>EXHIBIT
1.1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in">HIGHWAY
HOLDINGS LIMITED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CERTIFIED TRUE COPY OF A RESOLUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ADOPTED BY THE DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO THE ARTICLES OF ASSOCIATION
OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE COMPANY ON THE 10th DAY OF JULY 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>AMENDMENT OF ARTICLE OF ASSOCIATION</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IT WAS RESOLVED THAT, the following amendments
be made to the Company&rsquo;s Articles of Association:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&#9;&nbsp;&nbsp;&nbsp;&nbsp;The numbering error made in June
21, 2013 amendment to New Regulation 61 (formerly Regulation 71) of the Company&rsquo;s Article of Association be corrected so
that Regulation 60(3) of the June 21, 2013 amendment be re-numbered as New Regulation 61.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&#9;&nbsp;&nbsp;&nbsp;&nbsp;New Regulation 39 (formerly Regulation
49) of the Company&rsquo;s Article of Association be amended by deleting the regulation in its entirety and replacing it with the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;39.&#9;Upon the written
request of members holding 25 percent or more of the outstanding voting shares in the Company, the directors shall convene a meeting
of the members.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c)&#9;&nbsp;&nbsp;&nbsp;&nbsp;New Regulation 58 (formerly Regulation
68) of the Company&rsquo;s Article of Association be amended by deleting the regulation in its entirety and replacing it with the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;Any action required or
permitted to be taken by the members of the Company must be effected at a duly called meeting of members of the Company and may
not be effected by any consent in writing by such members.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d)&#9;&nbsp;&nbsp;&nbsp;&nbsp;The definition of &ldquo;resolution
of members&rdquo; in the Preliminary section of the Company&rsquo;s Article of Association be amended by deleting subsection (b)
of the definition in its entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(e)&#9;&nbsp;&nbsp;&nbsp;&nbsp;New Regulation 38 (formerly Regulation
48) of the Company&rsquo;s Article of Association be supplemented by the following additional provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;&ldquo;(d)&#9;&nbsp;&nbsp;&nbsp;Nominations
of any person for election to the Board of Directors at a meeting of members (but only if the election of directors is a matter
specified in the notice of meeting given by or at the direction of the person calling such meeting) may be made at such meeting
only (i) by or at the direction of the Board of Directors, or (ii) by a member who (A) was a member of record listed in the share
register of the Company (and, with respect to any beneficial owner, if different, on whose behalf such nomination is proposed to
be made, only if such beneficial owner was the beneficial owner of shares of the Company) both at the time of giving the notice
provided for in this Regulation 38 and at the time of the meeting, (B) is entitled to vote at the meeting, and (C) has complied
with this Regulation 38 as to such nomination. The foregoing clause (ii) shall be the exclusive means for a member to make any
nomination of a person or persons for election to the Board of Directors to be considered by the members at a meeting of members.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;(e)&#9;&nbsp;&nbsp;&nbsp;Without qualification,
for a member to make any nomination of a person or persons for election to the Board of Directors at a meeting of members, the
member must (i) provide timely notice thereof in writing and in proper form to the secretary of the Company and (ii) provide any
updates or supplements to such notice at the times and in the forms required by this Regulation 38. To be timely, a member&rsquo;s
notice must be delivered to, or mailed and received at, the principal executive offices of the Company not less than ninety (90)
days nor more than one hundred twenty (120) days prior to the first anniversary of the preceding year&rsquo;s meeting at which
members of the Board of Directors were elected; provided, however, that if the date of such meeting is more than thirty (30) days
before or more than sixty (60) days after such anniversary date or if no meeting was held in the preceding year, notice by the
member to be timely must be so delivered, or mailed and received, not earlier than the one hundred twentieth (120th) day prior
to such meeting and not later than the ninetieth (90th) day prior to such meeting or, if later, the tenth (10th) day following
the day on which public disclosure of the date of such meeting was first made. Without qualification, if the election of directors
is a matter specified in the notice of meeting given by or at the direction of the person calling a meeting for the election of
persons to the Board of Directors, then for a member to make any nomination of a person or persons for election to the Board of
Directors at such a meeting, the member must (i) provide timely notice thereof in writing and in proper form to the secretary of
the Company at the principal executive offices of the Company and (ii) provide any updates or supplements to such notice at the
times and in the forms required by this Regulation 38. To be timely, a member&rsquo;s notice for nominations to be made at a meeting
must be delivered to, or mailed and received at, the principal executive offices of the Company not earlier than the one hundred
twentieth (120th) day prior to such meeting and not later than the ninetieth (90th) day prior to such meeting or, if later, the
tenth (10th) day following the day on which public disclosure of the date of such meeting was first made. In no event shall any
adjournment or postponement of a meeting of members or the announcement thereof commence a new time period for the giving of a
member&rsquo;s notice as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;(f)&#9;&nbsp;&nbsp;&nbsp;To be in proper form
for purposes of this Regulation 38, a member&rsquo;s notice to the secretary of the Company shall set forth:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">(i)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The name and address of both the Nominating Person and the person to be nominated for election to the Board of Directors
and (B) the class and number of shares of the Company that are, directly or indirectly, owned of record as detailed in the share
register of the Company or beneficially owned within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934 (the &ldquo;Exchange
Act&rdquo;) by each of the Nominating Person and director nominee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">(ii)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As to the Nominating Person and the person to be nominated for election to the Board of Directors, any direct or indirect
interest of such person in any contract with the Company, any affiliate of the Company or any principal competitor of the Company,
and any pending or threatened litigation in which such person is a party or material participant involving the Company or any of
its officers or directors, or any affiliate of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">(iii)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As to each person whom a Nominating Person proposes to nominate for election as a director, (A) all information relating
to such proposed nominee that is required to be disclosed in a proxy statement or other filings required to be made in connection
with solicitations of proxies for election of directors in a contested election pursuant to Regulation 14(a) under the Exchange
Act (including, without limitation, such proposed nominee&rsquo;s written consent to being named in the proxy statement as a nominee
and to serving as a director if elected), (B) a description of all direct and indirect compensation and other material monetary
agreements, arrangements and understandings during the past three (3) years, and any other material relationships, between or among
any Nominating Person, on the one hand, and each proposed nominee, his or her respective affiliates and associates and any other
persons with whom such proposed nominee is acting in concert, on the other hand, including, without limitation, all information
that would be required to be disclosed pursuant to Item 404 under Regulation S-K if such Nominating Person were the &ldquo;registrant&rdquo;
for purposes of such rule and the proposed nominee were a director or executive officer of such registrant, (C) a representation
that the Nominating Person is a holder of record of stock of the Company entitled to vote at such meeting and intends to appear
in person or by proxy at the meeting to propose such nomination, (D) a representation whether the Nominating Person intends or
is part of a group which intends to solicit proxies or votes from members in support of such nomination, and (E) a completed and
signed questionnaire, representation and agreement as provided in Regulation 38(j); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">(iv)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company may require any proposed nominee to furnish such other information (A) as may reasonably be required by the Company to
determine the eligibility of such proposed nominee to serve as an independent director of the Company in accordance with any applicable
corporate governance policies that the Company has adopted, (B) that the Company may need to determine if the election of the
nominee will jeopardize the Company&rsquo;s eligibility to continue as a &ldquo;foreign private issuer&rdquo; under the Exchange
Act, and (C) that could be material to a reasonable member&rsquo;s understanding of the independence or lack of independence of
such proposed nominee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;(g)&#9;&nbsp;&nbsp;&nbsp;For purposes of this
Regulation 38, the term &ldquo;<U>Nominating Person</U>&rdquo; shall mean (i) the member providing the notice of the nomination
proposed to be made at the meeting, (ii) the beneficial owner or beneficial owners, if different, on whose behalf the notice of
the nomination proposed to be made at the meeting is made, and (iii) any other person with whom such member or such beneficial
owner (or any of their respective affiliates or associates) is acting in concert.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;(h)&#9;&nbsp;&nbsp;&nbsp;A member providing
notice of any nomination proposed to be made at a meeting shall further update and supplement such notice, if necessary, so that
the information provided or required to be provided in such notice pursuant to this Regulation 38 shall be true and correct as
of the record date for determining members entitled to notice of the meeting and as of the date that is ten (10) business days
prior to the meeting or any adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed
and received by, the secretary of the Company at the principal executive offices of the Company not later than five (5) business
days after the record date for determining members entitled to notice of the meeting (in the case of the update and supplement
required to be made as of the record date), and not later than eight (8) business days prior to the date for the meeting or, if
practicable, any adjournment or postponement thereof (and, if not practicable, on the first practicable date prior to the date
to which the meeting has been adjourned or postponed) (in the case of the update and supplement required to be made as of ten (10)
business days prior to the meeting or any adjournment or postponement thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;(i)&#9;&nbsp;&nbsp;&nbsp;Notwithstanding anything
in these Articles to the contrary, no person shall be eligible for election as a director of the Company (i) if the election of
such person as a director would cause the Company to be ineligible to remain a &ldquo;foreign private issuer,&rdquo; and (ii) if
such person was not nominated in accordance with this Regulation 38. The Chairman of the Board of Directors or any other person
designated by the Board of Directors to preside over the meeting shall, if the facts warrant, determine that a nomination was not
properly made in accordance with this Regulation 38, and if he or she should so determine, he or she shall so declare such determination
to the meeting and the defective nomination shall be disregarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;(j)&#9;&nbsp;&nbsp;&nbsp;To be eligible to
be a nominee for election as a director of the Company, the proposed nominee must deliver (in accordance with the time periods
prescribed for delivery of notice under this Regulation 38) to the secretary of the Company at the principal executive offices
of the Company a written questionnaire with respect to the background and qualification of such proposed nominee (which questionnaire
shall be provided by the secretary upon written request) and a written representation and agreement (in form provided by the secretary
upon written request) that such proposed nominee (i) is not and will not become a party to (A) any agreement, arrangement or understanding
with, and has not given any commitment or assurance to, any person or entity as to how such proposed nominee, if elected as a director
of the Company, will act or vote on any issue or question (a &ldquo;<U>Voting Commitment</U>&rdquo;) that has not been disclosed
to the Company or (B) any Voting Commitment that could limit or interfere with such proposed nominee&rsquo;s ability to comply,
if elected as a director of the Company, with such proposed nominee&rsquo;s fiduciary duties under applicable law, (ii) is not,
and will not become a party to, any agreement, arrangement or understanding with any person or entity other than the Company with
respect to any direct or indirect compensation, reimbursement or indemnification in connection with service or action as a director
that has not been disclosed to the Company and (iii)&nbsp;would be in compliance, if elected as a director of the Company, and
will comply with applicable publicly disclosed corporate governance, conflict of interest, confidentiality and stock ownership
and trading policies and guidelines of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;(k)&#9;&nbsp;&nbsp;&nbsp;In addition to the
requirements of this Regulation 38 with respect to any nomination proposed to be made at a meeting, each Nominating Person shall
comply with all applicable requirements of the Exchange Act with respect to any such nominations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&#9;(l)&#9;&nbsp;&nbsp;&nbsp;Notwithstanding the
foregoing provisions of this Regulation 38, unless otherwise required by law, if the member (or a qualified representative of the
member) does not appear at the meeting to present the proposed nomination, such proposed nomination shall not be considered, notwithstanding
that proxies in respect of such vote may have been received by the Company. For purposes of this Regulation 38, to be considered
a qualified representative of the member, a person must be a duly authorized officer, manager or partner of such member or must
be authorized in writing executed by such member or an electronic transmission delivered by such member to act for such member
as proxy at the meeting of members and such person must produce such writing or electronic transmission, or a reliable reproduction
of the writing or electronic transmission, at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(e)&#9;&nbsp;&nbsp;&nbsp;New Regulation 44 (formerly Regulation
54) of the Company&rsquo;s Article of Association be amended by deleting the regulation in its entirety and replacing it with the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"></TD><TD STYLE="text-align: justify">&ldquo;Subject to Regulation 38(l), a member may be represented at a meeting of members by a proxy
who may speak and vote on behalf of the member.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">Dated this 6th day of August, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">___________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>HARNEYS CORPORATE</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>SERVICES LIMITED</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Registered Agent</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>3
<FILENAME>v419925_ex15-1.htm
<DESCRIPTION>EXHIBIT 15.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 15.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;<IMG SRC="image_001.jpg" ALT=""></TD>
    <TD STYLE="width: 50%; font-size: 18pt; text-align: right; vertical-align: bottom"><FONT STYLE="font: 18pt Times New Roman, Times, Serif; color: #336699">NEWS RELEASE</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CONTACT:</FONT></TD>
    <TD STYLE="width: 88%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gary S. Maier</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Maier &amp; Company, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(310) 471-1288</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>HIGHWAY
HOLDINGS</B><FONT STYLE="font-weight: normal"> </FONT></FONT><B>ANNOUNCES ANNUAL MEETING VOTING RESULTS AND AMENDMENT TO ARTICLES
OF ASSOCIATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>HONG KONG
&ndash; September 30, 2015 --</B> Highway Holdings Limited <B>(Nasdaq:HIHO)</B></FONT> today announced results of its 2015 annual
general meeting of shareholders held in Los Angeles, California, USA on August 10, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the 2015 annual general meeting, the
three incumbent Class II directors, Shlomo Tamir, Kevin Yang Kuang Yu and George Leung Wing Chan, were reelected as Class II directors
to serve until the 2018 Annual Meeting of Shareholders and until their successors are duly elected and qualified, and the appointment
of Deloitte Touche Tohmatsu Hong Kong as the company's independent auditor for the fiscal year ending March 31, 2016 was ratified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Highway Holdings also announced that in
August 2015 the company amended its Articles of Association to (i) clarify the procedures by which a shareholder can nominate one
or more persons for election to the Board of Directors, (ii) require that all shareholder action must be taken at a properly called
shareholder meeting, and (iii) enable shareholders holding 25% of the outstanding shares to request a meeting of the shareholders.
The amendment to the Articles of Association has been filed with the U.S. Securities and Exchange Commission and is accessible
on the SEC&rsquo;s website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>About Highway Holdings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Highway Holdings produces a wide
variety of high-quality products for blue chip original equipment manufacturers -- from simple parts and components to
sub-assemblies and finished products. Highway Holdings&rsquo; administrative offices are located in Hong Kong, with
manufacturing facilities located in Shenzhen in the People&rsquo;s Republic of China and assembly services in Myanmar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Except for the historical information
contained herein, the matters discussed in this press release are forward-looking statements which involve risks and uncertainties,
including but not limited to the ownership and operation of the Myanmar facility, additional growth potential at this facility,
economic, competitive, governmental, political and technological factors affecting the company's revenues, operations, markets,
products and prices, and other factors discussed in the company&rsquo;s various filings with the Securities and Exchange Commission,
including without limitation, the company&rsquo;s annual reports on Form 20-F. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !I 7P# 2(  A$! Q$!_\0
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MRL.5/H:T*J6&FVNFPM%:0K$C-N('.35N@84444 %%%% !1110 4444 %%%%
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M42ONR%&!PQ /Z5J4 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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M=03R7$R&W;?$$V@*WJ<@YH T$C5%"J,*!@ =J?3$R% +%B.YZG\J?0,****
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!V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_002.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" "2 Q8# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MWOB)+*W@DN)+:*":5XOMF6,,97IN/&"2".2!QU[5<N]$>]51-J%P2D\<ZX5
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M 6BDHH 6BDS2T %%%% !1110 4444 %)@9I:* "BBB@ HHHH **** "BBB@
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MVD378DEN)XVNOLLEM&ZQ$(@?&X[=V3G:O?M1:([R)K76;:]AM9;7?+'<E@&
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MWB,D[ ,EB/3%2):W:7$3BZ7RD@,9A\KY2^1A\YR.,C;[]:SQHM]%HMCID5]
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M]*-H]*6B@!,"DV+C&!CTIU% ";5SG'- 4#M2T4 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
>%%% !1110 4444 %%%% !1110 4444 %%%% '__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
