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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.00 | 2.50 | 3.50 | 3.00 | 3.00 | 3.00 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Blank Checks | 0 | -178k | -0.0038 | -7.89 | 1.4M |
From Feb 2022 to Feb 2025
TIDMAJAX
RNS Number : 0684I
Ajax Resources PLC
30 November 2022
November 30, 2022
AJAX RESOURCES PLC
("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, www.ajaxresources.com , and can also be viewed here:
http://www.rns-pdf.londonstockexchange.com/rns/0684I_1-2022-11-30.pdf
Key elements from the Interim Results have been extracted and can be viewed below.
-S -
Further Information:
Hot Features
Premium
Ajax Resources Plc Tel: + 44 (0) 208 146 6345
Ippolito Cattaneo, Chief info@ajaxresources.com
Executive Officer
Clear Capital Markets (Corporate Tel: +44 (0)20 3869 6080
Broker) keithswann@clear-cm.co.uk;
Jonathan Critchley/ Keith jonathancritchley@clear-cm.co.uk
Swann
----------------------------------
Allenby Capital Limited Tel: + 44 (0) 203 328 5656
(Financial Adviser) n.harriss@allenbycapital.com
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
STATEMENT OF COMPREHENSIVE INCOME
Notes 31/08/2022 28/02/2022
Unaudited Audited
6 months GBP FY
GBP
------------------------------------- ------ -------------- -----------
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.
STATEMENT OF FINANCIAL POSITION
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
----------------------------- ----- ------------------- ----------------
Equity
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
STATEMENT OF CHANGES IN EQUITY
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.
STATEMENT OF CASH FLOWS
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 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
IR FIFVTLRLIVIF
(END) Dow Jones Newswires
November 30, 2022 13:30 ET (18:30 GMT)
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