THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
25 November 2024
AJAX RESOURCES PLC
("Ajax" or the "Company")
Half Yearly Report for the 6 months to 31 August 2024
The board of directors of Ajax (the "Board"), the UK listed special purpose acquisition company with a focus on natural resources [LSE: AJAX], announces its half yearly results for the 6 months to 31 August 2024 (the "Interim Results").
A full copy of the Company's unaudited interim financial statements for the 6 months ended 31 August 2024 can be viewed at:
http://www.rns-pdf.londonstockexchange.com/rns/4111N_1-2024-11-22.pdf
A copy can also be viewed on the National Storage Mechanism and on the Company's website:
(https://www.ajaxresources.com/investors/key-documents/#tabs-financial-statements)
Key elements of the Interim Results can also be viewed below.
- ENDS -
For further information:
|
Ajax Resources Plc Ippolito Cattaneo, Chief Executive Officer |
Tel: + 44 (0) 208 146 6345 |
|
Allenby Capital Limited (Financial Adviser) Nick Harriss / Daniel Dearden-Williams |
Tel: + 44 (0) 203 328 5656 |
Chief Executive's Statement
I am pleased to report to shareholders the unaudited financial statements for the six months ended 31 August 2024.
During the period, Ajax has continued to perform its opportunity identification exercise for production and development opportunities in the natural resources sector. The Board has concentrated primary efforts towards evaluating gold, copper and uranium production and exploration assets located in the Republic of Argentina, Europe, and the Republic of Uganda.
It is expected that there will be progress to report in due course surrounding these evaluations.
As has been the case throughout the Company's history, every possible action has been taken to minimise expenditure and conserve the Company's financial resources.
We are pleased to have welcomed Richard Heywood to the Board of the Company as an Executive Director. He will contribute skill, commitment and entrepreneurial energy towards Ajax's development.
We thank Luca Benedetto for his service to the Company since the Company's inception and look forward to continued work with him on a part-time basis.
Finally, I wish to thank all shareholders for their support and patience since the Company's IPO.
The Board is fully confident in the Company's future.
Principal Financial Statements
The notes to the financial statements form an integral part of these financial statements and can be viewed through the link above.
STATEMENT OF COMPREHENSIVE INCOME
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Notes |
31/08/2024 Unaudited 6 months £ |
31/08/2023 Unaudited 6 months £ |
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Revenues |
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- |
- |
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Cost of sales |
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Gross profit |
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- |
- |
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Other interest receivable |
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42,259 |
28,120 |
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Administrative expenses |
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(126,264) |
(124,128) |
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Operating loss and loss before income tax |
4 |
(84,005) |
(96,008) |
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Taxation |
5 |
- |
- |
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Loss and total comprehensive loss for the period |
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(84,005) |
(96,008) |
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Loss per share attributable to the equity holders (pence) Basic Diluted |
6 |
(0.20) (0.20) |
(0.20) (0.20) |
STATEMENT OF FINANCIAL POSITION
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Notes |
31/08/2024 Unaudited 6 months £ |
31/08/2023 Unaudited 6 months £ |
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Current assets |
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Other receivables |
8 |
18,971 |
44,425 |
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Promissory Notes granted |
8 |
372,276 |
170,413 |
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VAT Credit |
8 |
- |
- |
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Cash and cash equivalents |
9 |
456,359 |
818,124 |
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847,606 |
1,032,962 |
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Total assets |
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847,606 |
1,032,962 |
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Equity |
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Ordinary shares |
10 |
468,125 |
468,125 |
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Share Premium Reserve |
10 |
1,019,035 |
1,019,035 |
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Options & Warrants |
10 |
289,804 |
518,200 |
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Retained earnings/(loss) |
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(981,014) |
(1,035,350) |
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Total equity |
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795,950 |
970,010 |
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Current Liability |
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Other payables |
11 |
51,656 |
62,952 |
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Total equity and liabilities |
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847,606 |
1,032,962 |
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STATEMENT OF CASH FLOWS
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31/08/2024 |
31/08/2023 |
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Unaudited 6 months |
Unaudited 6 months |
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£ |
£ |
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Cash flows from operating activities |
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Loss before tax |
(84,005) |
(96,008) |
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Increase/(decrease) in receivables |
25,454 |
18,581 |
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Decrease/(Increase) in payables |
(11,296) |
46,681 |
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Change in working capital |
(90,055) |
(256,125) |
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Net cash used in operating activities |
(159,902) |
(261,027) |
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Promissory Notes |
(201,863) |
(170,413) |
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Cash flows from investing activities |
(201,863) |
(170,413) |
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Net cash used in investing activities |
(201,863) |
(170,413) |
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Cash flows from financing activities |
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Shares Prepayment |
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Proceeds from the issue of ordinary shares (net of issue costs) |
- |
- |
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Net cash from financing activities |
- |
- |
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Net increase / (decrease) in cash and cash equivalents |
(361,765) |
(431,422) |
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Cash and cash equivalents at the start of the period |
818,124 |
1,249,546 |
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Cash and cash equivalents at the end of the period |
456,359 |
818,124 |
Ajax Resources PLC announced its unaudited half-yearly results for the six months ended 31 August 2024, reporting an operating loss and total comprehensive loss of £84,005 for the period. As of 31 August 2024, the company's cash and cash equivalents stood at £456,359, and Richard Heywood was appointed as an Executive Director to the Board.
| Date | 25 Nov 2024 |
| Time | 07:00:03 |
| Category | Results |
| ID |
| 4111N |