Persistence Gold Group Ltd — Board/Management Information 2007

Jan 12, 2007

APAC RESOURCES LIMITED

*( )

(Formerly known as Shanghai Merchants Holdings Limited (Incorporated in Bermuda with limited liability) (Stock code: 1104)

*)

CHANGE OF COMPANY SECRETARY

The board of directors (the “Board”) of APAC Resources Limited (formerly known as Shanghai Merchants Holdings Limited) (the “Company”) announces that Mr. Ng Kwok Ping (“Mr. Ng”) has resigned as the Company Secretary with effect from 15 January, 2007 and Mr. To Yung Kan (“Mr. To”) was appointed as the Company Secretary of the Company on 15 January 2007. Mr. To is a qualified accountant and a fellow member of The Association of Chartered Certified Accountants.

Mr. Ng confirmed that his resignation was due to personal reasons. He also confirmed that there is no disagreement with the Board and no circumstance related to his resignation which need to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company.

The Board would like to welcome Mr. To to the new position and thank Mr. Ng for his contribution in the past.

As at the date of this announcement, the Board comprises Mr. Yue Jialin (Chairman), Mr. Lau Yau Cheung (Chief Executive Officer) and Mr. Michael Joseph Bogue being the executive directors and Mr. Wong Wing Kuen, Albert, Mr. Tsui Robert Che Kwong and Mr. Yang Weiming being the independent non-executive directors.

On behalf of the Board of APAC Resources Limited Yue Jialin Chairman

Hong Kong, 12 January 2007

* For identification purpose only

Please also refer to the published version of this announcement in The Standard.

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