APAC Resources : Supplemental Announcement on the Annual Report for the Year Ended 30 June 2019

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.

APAC RESOURCES LIMITED

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(Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

SUPPLEMENTAL ANNOUNCEMENT ON

THE ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2019

Reference is made to the annual report of APAC Resources Limited (the "Company") for the year ended 30 June 2019 (the "Annual Report") posted on the website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") on 21 October 2019.

As disclosed in the Annual Report, on 25 April 2019, the Company completed the rights issue on the basis of one new ordinary share of the Company (the "Rights Share") for every two existing shares then held at the subscription price of HK$1.10 per Rights Share (the "Rights Issue") and gross proceeds of approximately HK$447 million were raised. As at 30 June 2019, approximately HK$6.8 million, out of approximately HK$244 million of the proceeds intended to be used for investment in companies involved in the resources sector, was used.

In addition to the information disclosed in the Annual Report, the Company would like to advise the shareholders of the Company and the market that the Company proposed to use the unutilized proceeds for investments in the resources sector within a 6-month period from 30 June 2019 and as disclosed in the interim report of the Company for the six months ended 31 December 2019 posted on the website of the Stock Exchange on 20 March 2020, the gross proceeds from the Rights Issue have been fully utilized.

The board of directors (the "Board") of the Company confirms that the above clarification does not affect other information contained in the Annual Report and the content of the Annual Report remains correct and unchanged.

By Order of the Board

APAC Resources Limited

Andrew Ferguson

Executive Director

Hong Kong, 14 August 2020

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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

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