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Persistence Resources Group Completes Acquisition of Majority Stake in China-based Mining Company
PERSISTENCE RES (02489.HK) has completed the acquisition of a 52% stake in Yantai Mūjin Mining.
On February 24, Glorihui announced that PERSISTENCE RES (02489.HK) has achieved all the preconditions for the proposed acquisition of 52% equity in Yantai Mijin Mining. The incremental capital has been completed according to the terms of the share purchase and capital increase agreement as of the announcement date. Following the completion, through PRGRHK2 Ltd and MYG, the company holds approximately 52.0% of the target company's equity and becomes its controlling Shareholder. As a result, the target company has become a non-wholly owned subsidiary of the company, and the financial performance of the target company will be consolidated into the group's financial statements.
Persistence Resources Group Establishes ESG Committee
PERSISTENCE RES (02489.HK): Established an ESG Committee and a Risk Management Committee.
On February 6, Gelonghui announced that PERSISTENCE RES (02489.HK) has resolved to establish an Environmental, Social and Governance (ESG) Committee ("ESG Committee") to assist the Board of Directors in managing all matters related to ESG and the group's sustainable development and climate-related issues, including but not limited to assisting the Board in updating and monitoring ESG policies and strategy, formulating and reviewing performance Indicators, and managing ESG and climate-related risks, effective from February 6, 2025. In addition, the Board of Directors has resolved to establish a Risk Management Committee ("Risk Management Committee").
PERSISTENCE RES (02489.HK): Chen Shaohui resigned as Executive Director.
Gelonghui, February 4丨 PERSISTENCE RES (02489.HK) announced that Chen Shaohui has submitted his resignation as the company's Executive Director, effective February 4, 2025, in order to dedicate more time to other personal and Business developments. After his resignation, Chen Shaohui has been appointed as a consultant for the company, effective February 5, 2025, for a period of two years.
Express News | Persistence Resources - Chen Shaohui Tendered His Resignation as Executive Director
