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Share Name Share Symbol Market Type Share ISIN Share Description
Ajax Resources Plc LSE:AJAX London Ordinary Share GB00BLNBD412 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.25 1.92% 13.25 12.50 14.00 14.50 13.00 13.00 459,802 12:15:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial - - - - 6

Ajax Resources PLC Final Results to 28 February 2022

09/08/2022 6:04pm

UK Regulatory (RNS & others)


Ajax Resources (LSE:AJAX)
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TIDMAJAX

RNS Number : 4710V

Ajax Resources PLC

09 August 2022

 
   9 August 2022 
 

AJAX RESOURCES PLC

("Ajax" or the "Company")

Final Results for the period from incorporation to 28 February 2022

Ajax [LSE: AJAX], the UK listed special purpose acquisition company with a focus on natural resources, is pleased to announce its final results and the publication of its audited annual report for the period from incorporation to 28 February 2022 (the " Annual Report "). A copy of the Annual Report will shortly be posted on the Company's website, https://www.ajaxresources.com, and can also be viewed here:

http://www.rns-pdf.londonstockexchange.com/rns/4710V_1-2022-8-9.pdf

The Company's annual general meeting (" AGM ") for the period from incorporation to 28 February 2022 will be held at 11:00 AM BST on 31 August 2022 at the offices of Allenby Capital Limited, the Company's Financial Adviser, at 5 St Helen's Place, London, EC3A 6AB. A copy of the notice of AGM will be posted on the Company's website shortly in accordance with the Company's Articles of Association.

Key elements from the Annual Report have been extracted and can be viewed below.

- ENDS -

Further Information :

 
 Ajax Resources Plc                    Tel: + 44 (0) 208 146 6345 
  Ippolito Cattaneo, Chief Executive    info@ajaxresources.com 
  Officer 
 Clear Capital Markets (Corporate      Tel: +44 (0)20 3869 6080 
  Broker)                               keithswann@clear-cm.co.uk; jonathancritchley@clear-cm.co.uk 
  Jonathan Critchley/ Keith Swann 
                                      ------------------------------------------------------------- 
 Allenby Capital Limited (Financial    Tel: + 44 (0) 203 328 5656 
  Adviser)                              n.harriss@allenbycapital.com 
  Nick Harriss 
                                      ------------------------------------------------------------- 
 Camarco (Financial PR)                Tel: +44(0) 20 3757 4996 
  Georgia Edmonds / Emily Hall          emily.hall@camarco.co.uk 
                                      ------------------------------------------------------------- 
 

Market Abuse Regulation ("MAR") Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Cha i rman ' s Statement

I am pleased to report the audited financial statements to shareholders for the period ended 28 February 2022.

During the period, Ajax listed on the Main Market of the London Stock Exchange on April 7, 2022, having raised a total of GBP1,342,000 (before expenses) following Ajax's successful initial public offering ("IPO").

Since this time, the Company has been active in reviewing several opportunities in the natural resources sector focusing on production and development assets in low-risk jurisdictions, as outlined in the Company's IPO Prospectus.

The Directors, who founded the business, have a significant interest in the share capital of the Company and look forward to delivering on the commitment made by shareholders.

Outlook

As we look to our future near-term progress, we are greatly encouraged by the current energy pricing climate and the many opportunities we believe this has created for experienced and well-connected management teams. To this end, our efforts are proactively now centred on identifying and completing an acquisition with transformational value creation potential for shareholders.

The demand for energy, specifically that to be provided through the use of battery metals including Lithium, Nickel, and Cobalt, is set to increase exponentially in the years ahead, and the Company is looking to target these resources to astutely position itself at the forefront of the ongoing energy transition away from fossil fuels to a low-carbon economy.

I would like to thank all shareholders for the support they have shown for the Company's IPO, and we look forward with enthusiasm to our progress in the near future.

Michael Hutchinson

Non-Executive Chairman

9 August 2022

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD FROM 21 JUNE 2021 to 28 FEBRUARY 2022

 
 
 
                                        Notes   21 June 2021 to 28 February 
                                                                       2022 
                                                                        GBP 
-------------------------------------  ------  ---------------------------- 
 
 Revenue                                                                  - 
 Cost of sales                                                            - 
-------------------------------------  ------  ---------------------------- 
 Gross profit                                                             - 
 
 Administrative expenses                                           (79,625) 
-------------------------------------  ------  ---------------------------- 
 Operating loss and loss before 
  income tax                                4                      (79,625) 
 
 Taxation                                   5                             - 
 Loss and total comprehensive loss 
  for the period                                                   (79,625) 
-------------------------------------  ------  ---------------------------- 
 
 Loss per share (basic and diluted) 
  attributable to the equity holders 
  (pence)                                   6                        (0.96) 
-------------------------------------  ------  ---------------------------- 
 

STATEMENT OF FINANCIAL POSITION

FOR THE PERIOD FROM 21 JUNE 2021 to 28 FEBRUARY 2022

 
 
 
                                Notes  28 February 
                                              2022 
                                               GBP 
------------------------------  -----  ----------- 
 
Current assets 
Receivable from shareholders      8        663,585 
VAT Credit                        8         11,952 
Cash and cash equivalents         9              - 
------------------------------  -----  ----------- 
                                           675,537 
 
Total assets                               675,537 
------------------------------  -----  ----------- 
 
Equity 
 
Ordinary shares                  10        120,000 
Retained earnings/(loss)                  (79,625) 
------------------------------  -----  ----------- 
Total equity                                40,375 
 
Current Liability 
Other payables                   11        635,162 
 
Total equity and liabilities               675,537 
------------------------------  -----  ----------- 
 
 

STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 28 FEBRUARY 2022

 
                                                                        GBP 
  Cash flows from operating activities 
 
    Loss before tax                                                   (79,625) 
 
  Increase in receivables                                             (11,952) 
  Increase in payables                                                  10,162 
 ------------------------------------------------------------------  --------- 
  Net cash used in operating activities                               (81,415) 
 ------------------------------------------------------------------  --------- 
 
  Cash flows from investing activities                                       - 
  Net cash used in investing activities                                      - 
 -----------------------------------------------------------------   --------- 
 
  Cash flows from financing activities 
  Proceeds from the issue of ordinary shares (net of issue costs)       81,415 
  Net cash from financing activities                                    81,415 
 ------------------------------------------------------------------  --------- 
  Net increase / (decrease) in cash and cash equivalents                     - 
  Cash and cash equivalents at the start of the period                       - 
 ------------------------------------------------------------------  --------- 
  Cash and cash equivalents at the end of the period                         - 
 ------------------------------------------------------------------  --------- 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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(END) Dow Jones Newswires

August 09, 2022 13:04 ET (17:04 GMT)

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