Persistence Gold Group Ltd — M&A Activity 2021

Aug 13, 2021

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.

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APAC RESOURCES LIMITED

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(Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

COMPLETION OF DISCLOSEABLE AND CONNECTED TRANSACTION

ACQUISITION OF THE TARGET COMPANY AND ASSIGNMENT OF THE SHAREHOLDER’S LOAN

References are made to (i) the announcements of APAC Resources Limited (the “ Company ”) dated 14 May 2021, 18 May 2021, 7 June 2021, 18 June 2021 and 20 July 2021 (collectively, the “ Announcements ”); and (ii) the circular of the Company dated 25 June 2021 (the “ Circular ”) in relation to, among other things, the acquisition of the entire issued share capital of the Target Company and the assignment of the Shareholder’s Loan. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcements and the Circular.

The Board is pleased to announce that all the Conditions have been fulfilled and Completion took place on 13 August 2021 in accordance with the terms and conditions of the Sale and Purchase Agreement. Following Completion, the Target Company became an indirect wholly-owned subsidiary of the Company through the Purchaser.

By Order of the Board APAC Resources Limited Andrew Ferguson Executive Director

Hong Kong, 13 August 2021

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

Executive Directors

Mr. Brett Robert Smith ( Deputy Chairman ) and Mr. Andrew Ferguson (Chief Executive Officer)

Non-Executive Directors

Mr. Arthur George Dew ( Chairman ) (Mr. Wong Tai Chun, Mark as his alternate) , Mr. Lee Seng Hui and Ms. Lam Lin Chu

Independent Non-Executive Directors

Dr. Wong Wing Kuen, Albert, Mr. Chang Chu Fai, Johnson Francis and Mr. Wang Hongqian

* For identification purpose only