Persistence Gold Group Ltd — Share Issue/Capital Change 2024

Dec 12, 2024

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.

This announcement is for information purposes only and does not constitute an invitation or offer to shareholders or any other persons to acquire, purchase or subscribe for securities of the Company.

APAC RESOURCES LIMITED

亞太資源有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

LISTING OF WARRANTS ON THE MAIN BOARD OF THE STOCK EXCHANGE OF HONG KONG LIMITED BY WAY OF BONUS ISSUE

Number of Warrants: 271,327,392 Warrants

Initial Subscription Price: HK$1.00 (subject to adjustments)

Stock Code of the Warrants: 2478

This announcement is made by APAC Resources Limited (the "Company") pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Unless defined herein or the context otherwise requires, capitalized terms used in this announcement shall have the same meaning as defined in the circular of the Company dated 1 November 2024 (the "Circular").

An application has been made by the Company to the Listing Committee of the Stock Exchange for the granting of approval for the listing of, and permission to deal in, the Warrants to be issued as mentioned in the Circular and any New Shares which may fall to be issued upon exercise of the subscription rights attaching to the Warrants.

Dealings in the Warrants on the Main Board of the Stock Exchange are expected to commence from 9:00 a.m. on Tuesday, 17 December 2024. The Warrants will be traded in board lots of 12,000 units each. The stock code of the Warrants is 2478.

Certificates for the Warrants (together with the subscription forms) are expected to be posted on or before Monday, 16 December 2024 at the risk of the Qualifying Shareholders entitled thereto to their respective addresses shown on the register of members of the Company.

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Subject to the compliance with the stock admission requirements of HKSCC, the Warrants and any New Shares which may fall to be issued upon exercise of the subscription rights attaching to the Warrants will be accepted as eligible securities by HKSCC for deposit, clearance and settlement in CCASS with effect from the respective commencement dates of their dealings on the Stock Exchange or such other dates as shall be determined by HKSCC. All activities under CCASS are subject to the General Rules of CCASS and the CCASS Operational Procedures in effect from time to time.

A total of 271,327,392 Warrants are to be issued by the Company to the Qualifying Shareholders pursuant to the Bonus Warrants Issue, represented by the Warrant certificates, conferring the rights in their registered form to the holders thereof to subscribe in cash for 271,327,392 New Shares at an initial subscription price of HK$1.00 per New Share (subject to adjustments) (the "Subscription Rights") at any time during the period of three (3) years from Monday, 16 December 2024 up to and until 4:00 p.m. on Wednesday, 15 December 2027 (both days inclusive) (the "Subscription Period"). The Subscription Rights attaching to the Warrants may be exercised during the Subscription Period. Any Subscription Rights which have not been exercised during the Subscription Period will lapse and the relevant Warrant certificates will cease to be valid for any purpose.

Each Warrant certificate will contain a subscription form. In order to exercise the Subscription Rights, a holder of the Warrants must complete and sign the subscription form (which shall be irrevocable) and deliver such subscription form together with the Warrant certificate and a remittance of the relevant subscription moneys (or, in the case of a partial exercise, the relevant portion of the subscription moneys) to the branch share registrar of the Company in Hong Kong, Tricor Secretaries Limited of 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong or such other person, firm or company as for the time being maintains in Hong Kong (unless the Directors otherwise determine) the register of holders of the Warrants and the register of members of the Company.

Copies of the Circular are available on the website of the Stock Exchange (www.hkexnews.hk) and that of the Company (www.apacresources.com) for information purpose.

On behalf of the Board
APAC Resources Limited
Andrew Ferguson
Executive Director

Hong Kong, 12 December 2024

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

Executive Director
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. Wang Hongqian and Mr. Kelvin Chau Kwok Wing

• For identification purpose only