SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT OF
FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For the
date of March 2010
HIGHWAY
HOLDINGS LIMITED___
(Translation
of Registrant's Name Into English)
Suite
810, Level 8
Landmark
North
39 Lung
Sum Avenue
Sheung
Shui
______New Territories, Hong
Kong________
(Address
of Principal Executive Offices)
(Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.)
Form
20-F X Form
40-F ___
(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.)
Yes ___ No X_
(If "Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_______________.)
Attached
to this Report on Form 6-K is the press release issued by the registrant on
March 8, 2010.
SIGNATURES
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.
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HIGHWAY
HOLDINGS LIMITED
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Date: March
31, 2010
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By:
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/s/ ROLAND W. KOHL | |
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Roland
W. Kohl
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Chief
Executive Officer
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 |
NEWS RELEASE |
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CONTACT:
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Gary
S. Maier
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Maier
& Company, Inc.
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(310)
442-9852
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HIGHWAY
HOLDINGS ANNOUNCES SHARE REPURCHASE PROGRAM
HONG KONG — March 8, 2010 —
Highway Holdings Limited (Nasdaq:HIHO) today announced its
board of directors has authorized a share repurchase program of up to $1.0
million of the company’s outstanding common stock from time to time in the open
market at prices deemed appropriate by management. The share
repurchase program will expire on December 31, 2010.
Highway
Holdings has approximately 3.8 million shares outstanding on a diluted
basis.
“We
believe the current stock price does not adequately represent the value of the
company and, therefore, that the share repurchase is a good investment of
our available funds. This share repurchase program is consistent with
our recently announced plans to proactively enhance shareholder value and does
not preclude various other initiatives such as appropriate partnerships,
complementary acquisitions and other related activities,” said Roland Kohl,
president and chief executive officer of Highway Holdings.
About
Highway Holdings
Highway Holdings produces a wide
variety of high-quality products for blue chip original equipment manufacturers
-- from simple parts and components to sub-assemblies. It also
manufactures finished products, such as LED lights, radio chimes and other
electronic products. Highway Holdings’ principal office is located in
Hong Kong and it currently operates two manufacturing facilities in the People's
Republic of China.
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 economic, competitive, governmental,
political and technological factors affecting the company's revenues,
operations, markets, products and prices, and other factors discussed in the
company’s various filings with the Securities and Exchange Commission, including
without limitation, the company’s annual reports on Form 20-F.
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