THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

30 June 2023

AJAX RESOURCES PLC

("Ajax" or the "Company") 

Final results for the year to 28 February 2023

Ajax [LSE: AJAX], the UK listed special purpose acquisition company with a focus on natural resources, is pleased to publish its audited financial statements and annual report for the year to 28 February 2023 (the "Annual Report"). A copy of the Annual Report 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/5624E_1-2023-6-30.pdf

Key elements from the Annual Report have been extracted and can be viewed below.

-  ENDS -

Further Information:

Statement

I am pleased to report the audited financial statements to shareholders for the year ended 28 February 2023.

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"), and started the research of an opportunity to acquire an asset.

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 progress, we are encouraged by the current energy pricing climate and the many opportunities we believe this has created for experienced and well-connected management teams. Our efforts are fully centered 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 expected to increase exponentially in the years ahead. To this end, the Company is looking to 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.

STATEMENT OF COMPREHENSIVE INCOME

            The notes to the financial statements form an integral part of these financial statements and can be viewed on the link to the Annual Report above.