PERSISTENCE RES (02489) announced that on September 25, 2025 (after trading hours), the company and joint placing agents entered into a placement agreement. Under the agreement, the company has conditionally agreed to place up to 400 million placing shares through the joint placing agents on a best efforts basis at a placing price of HK$1.18 per placing share to no fewer than six placees, where the placees and their beneficial owners must be independent third parties. The placing price represents a discount of approximately 19.2% compared to the closing price of HK$1.46 per share quoted on the Stock Exchange on the date of the placement agreement. The estimated net proceeds from the placement are expected to be approximately HK$462 million. The net placing price per placing share is expected to be approximately HK$1.16.