Persistence Gold Group Ltd — Capital/Financing Update 2014

Feb 7, 2014

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)

APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

Reference is made to the announcement (the ‘‘Announcement’’) of APAC Resources Limited (the ‘‘Company’’) dated 23 January 2014 in relation to, among other things, a conditional cash offer which will be made by Yu Ming on behalf of the Company in compliance with the Codes, subject to fulfilment of the Conditions, to repurchase for cancellation up to the Maximum Number of Shares, being 680,000,000 Shares at the Offer Price of HK$0.18 per Share (the ‘‘Offer’’). Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless the context requires otherwise.

Pursuant to Rule 2.8 of the Takeovers Code, the Independent Board Committee has been formed, comprising all the independent non-executive Directors and non-executive Directors, other than Mr. Lee Seng Hui, who is considered having a material interest in the Offer as he is a beneficial owner of Yu Ming, the financial adviser making the Offer on behalf of the Company.

With the approval of the Independent Board Committee, the Company has appointed Chanceton Capital Partners Limited as the independent financial adviser (the ‘‘Independent Financial Adviser’’) to advise the Independent Board Committee as to its advice and recommendation for the Independent Shareholders on the Offer, the Repurchase Mandate and the Whitewash Waiver. The letter of advice from the Independent Financial Adviser in respect of the Offer, the Repurchase Mandate and the Whitewash Waiver will be included in the Offer Document to be issued by the Company in due course.

On behalf of the Board APAC RESOURCES LIMITED Chong Sok Un Chairman

Hong Kong, 7 February 2014

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As at the date of this announcement, the Directors are:

Executive Directors

Ms. Chong Sok Un (Chairman), Mr. Andrew Ferguson (Chief Executive Officer) 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

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statements in this announcement misleading.

• For identification purpose only

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