Persistence Gold Group Ltd — Board/Management Information 2012

Mar 1, 2012

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

APAC RESOURCES LIMITED 亞 太 資 源 有 限 公 司[*]

(Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

RESIGNATION OF DIRECTOR AND

CHANGE OF CHAIRMAN OF REMUNERATION COMMITTEE AND ESTABLISHMENT OF NOMINATION COMMITTEE

Resignation of Director

Mr. Liu Yongshun has resigned as a non-executive director of the Company with effect from 1 March 2012 due to his other business commitments.

Change of Chairman of Remuneration Committee

In compliance with Rule 3.25 of the Listing Rules which will come into effect on 1 April 2012, Dr. Wong Wing Kuen, Albert, an independent non-executive director of the Company, has been appointed chairman of remuneration committee of the Company in place of Ms. Chong Sok Un with effect from 1 March 2012. Ms. Chong Sok Un shall remain as a member of the remuneration committee.

Establishment of Nomination Committee

In compliance with Code Provision A.5.1 of the Corporate Governance Code set out in Appendix 14 to the Listing Rules which will come into effect on 1 April 2012, the Board announces the establishment of the nomination committee on 1 March 2012. The nomination committee comprises Ms. Chong Sok Un, the chairman of the Board, Dr. Wong Wing Kuen, Albert, Mr. Chang Chu Fai, Johnson Francis and Mr. Robert Moyse Willcocks, all independent non-executive directors of the Company and Mr. Lee Seng Hui, a non-executive director of the Company. Ms. Chong Sok Un has been appointed the chairman of the nomination committee.

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RESIGNATION OF DIRECTOR

The board of directors (the ‘‘Board’’) of APAC Resources Limited (the ‘‘Company’’) announces that Mr. Liu Yongshun (‘‘Mr. Liu’’) has resigned as a non-executive director of the Company with effect from 1 March 2012 due to his other business commitments.

Mr. Liu has confirmed that he has no disagreement with the Board and there are no matters that need to be brought to the attention of the shareholders of the Company in relation to his resignation.

The Board would like to take this opportunity to thank Mr. Liu for his valuable contributions to the Company during his tenure of office.

CHANGE OF CHAIRMAN OF REMUNERATION COMMITTEE

In compliance with the requirement of appointing an independent non-executive director as the chairman of the remuneration committee under Rule 3.25 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Listing Rules’’) which will come into effect on 1 April 2012, Dr. Wong Wing Kuen, Albert, an independent non-executive director of the Company, has been appointed chairman of remuneration committee of the Company in place of Ms. Chong Sok Un with effect from 1 March 2012. Ms. Chong Sok Un shall remain as a member of the remuneration committee.

ESTABLISHMENT OF NOMINATION COMMITTEE

In compliance with the requirement of establishing a nomination committee under Code Provision A.5.1 of the Corporate Governance Code set out in Appendix 14 to the Listing Rules which will come into effect on 1 April 2012, the Board announces the establishment of the nomination committee on 1 March 2012. The nomination committee comprises Ms. Chong Sok Un, the chairman of the Board, Dr. Wong Wing Kuen, Albert, Mr. Chang Chu Fai, Johnson Francis and Mr. Robert Moyse Willcocks, all independent non-executive directors of the Company and Mr. Lee Seng Hui, a non-executive director of the Company. Ms. Chong Sok Un has been appointed the chairman of the nomination committee.

By Order of the Board APAC Resources Limited Chong Sok Un Chairman

Hong Kong, 1 March 2012

As at the date of this announcement, the directors of the Company are:

Executive Directors

Ms. Chong Sok Un (Chairman), Mr. Andrew Ferguson (Chief Executive Officer), Mr. Yue Jialin and Mr. Kong Muk Yin

Non-Executive Directors

Mr. Lee Seng Hui, Mr. So Kwok Hoo and Mr. Peter Anthony Curry

Independent Non-Executive Directors

Dr. Wong Wing Kuen, Albert, Mr. Chang Chu Fai, Johnson Francis and Mr. Robert Moyse Willcocks

• For identification purpose only

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