Asset Acquisitions and Disposals::ACQUISITION OF ATHENA ENERGY HOLDINGS PTE. LTD. - LISTING AND QUOTATION OF 14,197,450 SHARES

MANHATTAN RESOURCES LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No. 199006289K)

LISTING AND QUOTATION OF 14,197,450 CONSIDERATION SHARES IN THE CAPITAL OF

THE COMPANY AT AN ISSUE PRICE OF S$0.039 PER CONSIDERATION SHARE

Unless otherwise defined, all capitalised terms used herein shall bear the same definitions as ascribed to them in the Announcements (as defined below).

1. INTRODUCTION
   The Board of Directors (the "Board") of Manhattan Resources Limited (the "Company") refers to the Company's earlier announcements dated 20 October 2021 in relation to the acquisition of the entire issued and paid-up share capital of Athena Energy Holdings Pte. Ltd. (the
   "Acquisition"), 28 October 2021 in relation to the completion of the Acquisition, and 7 December 2021 in relation to the receipt of approval in-principle from the Singapore Exchange
   Regulation Pte. Ltd. (collectively, the "Announcements").
2. ALLOTMENT AND ISSUANCE OF CONSIDERATION SHARES
   The Company wishes to announce that, pursuant to the Acquisition, an aggregate of 14,197,450 new ordinary shares in the capital of the Company ("Consideration Shares") were allotted and issued by the Company to Sandnergy's Nominees on 13 December 2021.
   Following the allotment and issuance of the Consideration Shares, the number of issued shares in the Company has increased from 2,986,503,650 shares to 3,000,701,100 shares and the issued and paid-up share capital has increased from S$254,397,265.29 to S$254,950,965.29 as at the date of this announcement. The Consideration Shares represent approximately 0.47% of the enlarged issued and paid-up share capital of the Company and rank pari passu in all respects with and carry all rights similar to the then existing issued shares, save for any dividends, rights, allotments or other distributions that may be declared or paid, the record date for which falls before the date of issue of the Consideration Shares.
3. LISTING AND QUOTATION FOR THE CONSIDERATION SHARES
   The Consideration Shares will be listed and quoted on the Mainboard of the Singapore
   Exchange Securities Trading Limited ("SGX-ST") with effect from 9.00 a.m. on 15 December 2021, and the trading of the Consideration Shares will commence with effect from 9.00 a.m. on the same day.
4. TRADING OF ODD LOTS
   Upon the listing and quotation of the Consideration Shares on the Mainboard of the SGX-ST, the Consideration Shares will be traded under the book-entry (scripless) settlement system.
   For the purpose of trading on the Mainboard of the SGX-ST, each board lot of shares will comprise 100 shares. Following the allotment and issuance of the Consideration Shares, Shareholders who hold odd lots of shares (that is, lots other than board lots of 100 shares) and who wish to trade in odd lots are able to trade odd lots of shares in board lots of one (1) Share on the Unit Share Market of the SGX-ST. The Unit Share Market is a ready market for trading of odd lots of shares with a minimum size of one (1) share. Shareholders should note that the market for the trading of such odd lots of shares may be illiquid.

BY ORDER OF THE BOARD

Low Yi Ngo

Chief Executive Officer and Managing Director

13 December 2021