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: 

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.

Chairman'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 £1,342,000 (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

STATEMENT OF FINANCIAL POSITION

FOR THE PERIOD FROM 21 JUNE 2021 to 28 FEBRUARY 2022

STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 28 FEBRUARY 2022