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

27 November 2023

AJAX RESOURCES PLC

("Ajax" or the "Company")

Half-Yearly Report for the 6 months to 31 August 2023

Proposed General Meeting

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 2023 (the "Interim Results"), and, in addition, its intention to seek approval from shareholders for an extension of its investment policy (the "Policy").

Interim Results

The Board is pleased to announce the Company's unaudited financial results for the 6 months to 31 August 2023. A full copy of the Interim Results can be viewed at:

http://www.rns-pdf.londonstockexchange.com/rns/6763U_1-2023-11-27.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.

Proposed General Meeting

In the Company's prospectus published at the time of its admission to trading on the Main Market of the London Stock Exchange on 7 April 2022 (the "Prospectus"), the Board undertook that if a suitable acquisition target was not identified within 18 months, then it would either seek a one-year extension or a winding up of the Company. 

The Board unanimously proposes to shareholders that a one-year extension to the Policy is approved and intends to call a General Meeting during February 2024.

A copy of the Prospectus can be viewed on the Company's website at:

https://www.ajaxresources.com/investors/key-documents/#tabs-admission-documents

- ENDS -

For further information: 

Chairman's Statement

The Company has continued to make good progress towards successfully identifying an acquisition in the natural resources sector.

Ajax has been evaluating various advanced gold and copper exploration opportunities across several jurisdictions, as well as certain metal recovery projects located in Central Asia utilizing innovative, environmentally friendly technologies capable of generating significant profitability. 

We have continued, in view of our current development stage, to maximise cost control in keeping expenditure to a minimum.

It is our belief that we are now potentially not far from finding an opportunity that satisfies our development criteria, and we consider the gradual recovery in UK market sentiment to constitute an auspicious backdrop for our potential near-term progress.

We thank shareholders for their continued trust and support as we deliver on our mandate. 

Michael Hutchinson

Non-Executive Chairman

November 27, 2023

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

STATEMENT OF FINANCIAL POSITION

STATEMENT OF CASH FLOWS