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 -
------------------------------------------------------------------ ---------
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END
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