Persistence Gold Group Ltd — M&A Activity 2025

Jan 13, 2025

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.

PERSISTENCE RESOURCES GROUP LTD

集海資源集團有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2489)

ANNOUNCEMENT ON THE PROGRESS OF DISCLOSABLE TRANSACTION

Reference is made to the announcement (the "Announcement") of Persistence Resources Group Ltd (the "Company", together with its subsidiaries collectively the "Group") dated 25 November 2024 in relation to, among others, the acquisition of shares in the Target Company. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Announcement.

The Board is pleased to announce that all the conditions precedent to the Share Purchase had been fulfilled, and the completion of the Zhaojin Equity Transfer and Yihui Equity Transfer took place as at the date of this announcement in accordance with the terms of the Share Purchase and Capital Increase Agreement. In respect of the Zhaojin Equity Transfer, PRGRHK2 Ltd won the bid at a final price of RMB18,900,000. For details, please refer to the sections headed "THE SHARE PURCHASE AND CAPITAL INCREASE AGREEMENT" and "TENDER PROCESS AT PROPERTY RIGHTS EXCHANGE" of the Announcement.

Further, the Capital Increase mentioned in the Announcement is ongoing, and the Company will issue further announcement or update regarding its completion as and when applicable.

By order of the Board
Persistence Resources Group Ltd
Shao Xuxin
Chairman, Chief Executive Officer and Executive Director

Hong Kong, 13 January 2025

As at the date of this announcement, the Board comprises Dr. Shao Xuxin, Mr. Mackie James Thomas, Mr. Lo Cheuk Kwong Raymond and Mr. Chen Shaohui as executive Directors; and Dr. Malaihollo Jeffrey Francis A, Mr. Chan Ngai Fan, Dr. Zeng Ming and Ms. Liu Li as independent non-executive Directors.