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

30 May 2024

AJAX RESOURCES PLC

("Ajax" or the "Company")

Final results for the year to 29 February 2024

Notice of Annual General Meeting

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 29 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/3569Q_1-2024-5-29.pdf

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

The Company also announces that the Ajax annual general meeting ("AGM") for the year to 29 February 2024 will be held at 12:00 midday BST on 24 July 2024 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 and Form of Proxy will be mailed to shareholders in due course and will, once published, be made available to view on the Company's website at:

https://www.ajaxresources.com/investors/key-documents/    

In accordance with Listing Rules 14.3.6R and 14.3.7R, copies of each of the aforementioned documents will be submitted to the National Storage Mechanism and will be available for inspection at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

- ENDS -

For further information: 

Notes to Editors:

Ajax Resources Plc is a Special Purpose Acquisition Company (SPAC) listed on the FCA Official List and admitted to trading on the Main Market for listed securities of the London Stock Exchange under the ticker "AJAX".

Chairman's Statement

I am pleased to report the audited financial statements to shareholders for the year ended 29 February 2024.

During the period, Ajax has continued to perform its identification exercise for production and development opportunities in the natural resources sector. The Company has made good progress in this process, having conducted due diligence on several potential acquisition opportunities located in Europe, South America, and Africa. It is expected that there will be material progress to report in due course. 

Proactive steps have been taken during the financial year to minimize expenditure and maximize the Company's financial resources prior to a potential acquisition being completed.

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 significant value creation potential for shareholders.

The demand for natural resources contributing towards the transition to a low-carbon economy, specifically metals of strategic importance including gold, tin, copper, and uranium, is expected to increase exponentially in the years ahead.

I would like to thank all shareholders for the support they have shown since the Company's IPO, and we look forward with enthusiasm to our near-term progress. 

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 29 FEBRUARY 2024

STATEMENT OF FINANCIAL POSITION

FOR THE YEAR ENDED 29 FEBRUARY 2024

STATEMENT OF CASH FLOW

FOR THE YEAR ENDED 29 FEBRUARY 2024

All references to Notes and Pages in the financial statements above refer to the Annual Report which can be accessed via the link set out above.