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
  0.00 0.0% 9.25 8.50 10.00 9.25 9.25 9.25 7,252 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial - - - - 4

Ajax Resources PLC Half-year Report

30/11/2022 6:30pm

UK Regulatory (RNS & others)

Ajax Resources (LSE:AJAX)
Historical Stock Chart

From Sep 2022 to Mar 2023

Click Here for more Ajax Resources Charts.


RNS Number : 0684I

Ajax Resources PLC

30 November 2022

November 30, 2022


("Ajax" or the "Company")

Interim Results for the period ended August 31, 2022

Ajax [LSE: AJAX], the UK listed special purpose acquisition company with a focus on natural resources, is pleased to publish its unaudited interim financial statements for the six months ended August 31, 2022 (the "Interim Results"). A copy of the Interim Results will shortly be available for download on the Company's website, , and can also be viewed here:

Key elements from the Interim Results have been extracted and can be viewed below.

   -S - 

Further Information:

 Ajax Resources Plc                 Tel: + 44 (0) 208 146 6345 
  Ippolito Cattaneo, Chief  
  Executive Officer 
 Clear Capital Markets (Corporate   Tel: +44 (0)20 3869 6080 
  Broker)                  ; 
  Jonathan Critchley/ Keith 
 Allenby Capital Limited            Tel: + 44 (0) 203 328 5656 
  (Financial Adviser)       
  Nick Harriss 

Chairman's Statement

The energy transition from fossil fuels towards a low-carbon economy has created a growing number of attractive opportunities for junior independent energy companies, both in the renewable and non-renewable domains.

We have maintained an open approach in our assessment of various opportunities across the natural resource spectrum, ranging from battery metals such as Lithium and Cobalt, to Critical Metals, as well as Hydrocarbons. This is because our assessment strategy has been guided by an overreaching attention towards achieving the most commercially advantageous transaction to achieve Ajax's long-term growth in accordance with stringent due diligence criteria.

The Company's management is, as outlined in Ajax's IPO prospectus document, engaged in seeking to identify and acquire a target company or business that can return significant value to shareholders by enabling Ajax to become a revenue generating, fully-fledged natural resource production and exploration entity with significant potential.

I am pleased to report that during the period, in view of our current development stage, effective cost control has been rigorously enforced and will continue to be maintained until such time as an acquisition is identified and completed.

It is the Board's opinion, in consideration of the opportunities currently under review, that Ajax is well positioned to achieve transformational growth once it successfully completes an acquisition.

We thank shareholders for their continued support, evidenced by the Company's recent share price performance, and we look forward to building on this momentum as we move forward in taking Ajax to the next key milestone in its development.

Michael Hutchinson, Non-Executive Chairman

November 30, 2022


                                        Notes      31/08/2022   28/02/2022 
                                                    Unaudited      Audited 
                                                 6 months GBP           FY 
-------------------------------------  ------  --------------  ----------- 
 Revenue                                                                 - 
 Cost of sales                                                           - 
-------------------------------------  ------  --------------  ----------- 
 Gross profit                                               -            - 
 Administrative expenses                             (97,876)     (79,625) 
-------------------------------------  ------  --------------  ----------- 
 Operating loss and loss before 
  income tax                                4        (97,876)     (79,625) 
 Taxation                                   5                            - 
 Loss and total comprehensive loss 
  for the period                                     (97,876)     (79,625) 
-------------------------------------  ------  --------------  ----------- 
 Loss per share (basic and diluted) 
  attributable to the equity holders 
  (pence)                                   6          (0.21)       (0.66) 
-------------------------------------  ------  --------------  ----------- 

The notes to the financial statements form an integral part of these financial statements.


                               Notes           31/08/2022  28 February 2022 
                                       Unaudited 6 months        Audited FY 
                                                      GBP               GBP 
-----------------------------  -----  -------------------  ---------------- 
Current assets 
Receivables                      8                      -           663,585 
VAT Credit                       8                 25,884            11,952 
Cash and cash equivalents        9              1,249,546                 - 
-----------------------------  -----  -------------------  ---------------- 
                                                1,275,430           675,537 
Total assets                                    1,275,430           675,537 
-----------------------------  -----  -------------------  ---------------- 
Ordinary shares                 10              1,436,660           120,000 
Retained earnings/(loss)                        (177,501)          (79,625) 
-----------------------------  -----  -------------------  ---------------- 
Total equity                                    1,259,159            40,375 
Current Liability 
Other payables                                     16,271           635,162 
Total equity and liabilities                    1,275,430           675,537 
-----------------------------  -----  -------------------  ---------------- 

The notes to the financial statements form an integral part of these financial statements.

These financial statements were approved by the board of directors and recognized for issue on 30 November 2022, and are signed on its behalf by:

Michel Hutchinson

Chairman & Director

Company Registration No. 13467546


                                                             Ordinary    Retained 
                                                        share capital      losses       Total 
                                                                  GBP         GBP         GBP 
----------------------------------------------------  ---------------  ----------  ---------- 
 Balance at incorporation at 21 June 2021                      12,500           -      12,500 
----------------------------------------------------  ---------------  ----------  ---------- 
 Share issue                                                  107,500           -     107,500 
 Loss and total comprehensive loss for the period                   -    (79,625)    (79,625) 
----------------------------------------------------  ---------------  ----------  ---------- 
 Balance at 28 February 2022                                  120,000    (79,625)      40,375 
----------------------------------------------------  ---------------  ----------  ---------- 
 Share issue                                                1,342,000           -   1,342,000 
 Share issue costs                                           (25,340)                (25,340) 
 Loss and total comprehensive income for the period                 -    (97,876)    (97,876) 
----------------------------------------------------  ---------------  ----------  ---------- 
 Balance at 28 February 2022                                1,436,660   (177,501)   1,259,159 
----------------------------------------------------  ---------------  ----------  ---------- 

Share capital is the amount subscribed for shares at nominal value.

The retained earnings represent the cumulative results of the company attributable to equity shareholders.


                                                                               31/08/2022      28 February 2022 
                                                                       Unaudited 6 months            Audited FY 
                                                                                      GBP                   GBP 
 Cash flows from operating activities 
   Loss before tax                                                               (97,876)           (79,625) 
 (Increase)/Decrease in receivables                                                11,952           (11,952) 
 Increase/(Decrease) in payables                                                  (6,109)             10,162 
------------------------------------------------------------------  ---------------------  ----------------- 
 Net cash used in operating activities                                           (92,033)           (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)                1,341,579             81,415 
 Net cash from financing activities                                             1,341,579             81,415 
------------------------------------------------------------------  ---------------------  ----------------- 
 Net increase / (decrease) in cash and cash equivalents                         1,249,546                  - 
 Cash and cash equivalents at the start of the period                                   -                  - 
------------------------------------------------------------------  ---------------------  ----------------- 
 Cash and cash equivalents at the end of the period                             1,249,546                  - 
------------------------------------------------------------------   --------------------  ----------------- 

Cautionary Statement

The Interim Results have been prepared solely to provide additional information to shareholders to assess the Company's strategy and performance. The Interim Results should not be relied on by any other party or for any other purpose.

The Interim Results are unaudited and do not constitute full accounts.

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 or visit

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) Dow Jones Newswires

November 30, 2022 13:30 ET (18:30 GMT)

1 Year Ajax Resources Chart

1 Year Ajax Resources Chart

1 Month Ajax Resources Chart

1 Month Ajax Resources Chart
Your Recent History
Ajax Resou..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20230323 04:00:15