PERSISTENCEGOLD (02489.HK): Disposal Long-Stop Extended to 16 December, First Instalment at RMB 84.15 Million

NewTimeSpace News: On 10 November 2026, Persistence Gold Group Ltd (stock code: 02489) issued an update on the disposal of a subsidiary, announcing that it entered into a supplemental agreement to equity transfer agreement A with Mr. Kong extending the long-stop date to 16 December 2026, or such other date as the parties may agree in writing.

The announcement disclosed that, as at the date of the announcement, all conditions precedent under equity transfer agreement A had been fulfilled except the condition that the existing guarantees be dealt with, and that all conditions precedent for the industrial and commercial change registration under equity transfer agreement B had been fulfilled. The existing guarantees are those provided by Yantai Zhongjia between March 2025 and July 2026 to several financial institutions for bank loans obtained by the target company, amounting to RMB 278 million in principal plus accrued interest, with a guarantee period of three years from the date the target company's obligation to pay the final instalment falls due. A RMB 40 million loan from Yantai Zhongjia to the target company was fully repaid before the equity transfer agreements were entered into on 26 August 2026.

The Company stated that arrangements for dealing with the existing guarantees remain under negotiation and more time is needed to finalise them to fulfil the guarantee condition, and that the supplemental agreements were signed to facilitate implementation of the transactions in the agreed sequence and give the buyer time to arrange payment. On the same day, MYG, Yihui Investment and the target company entered into a supplemental agreement to equity transfer agreement B extending its long-stop date to 31 December 2026, or such other date as the parties may agree in writing.

The Company stated that equity transfer agreement A will terminate immediately if the first instalment of RMB 84,154,706.31 is not made on or before the extended long-stop date, and that agreement B will terminate immediately if payment thereunder is not made on or before its extended long-stop date. All other terms and conditions of the equity transfer agreements remain unchanged and in full force. The Company also said that, if the existing guarantees continue after completion, Mr. Kong or his affiliates are expected to enter into an appropriate counter-guarantee with the Group.