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
info@ajaxresources.com
|
|
Allenby Capital Limited (Financial Adviser)
Nick Harriss / Daniel
Dearden-Williams
|
Tel: +
44 (0) 203 328 5656
n.harriss@allenbycapital.com
d.dearden-williams@allenbycapital.com
|
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
|
|
|
|
|
|
|
Notes
|
31/08/2024
Unaudited 6
months £
|
31/08/2023
Unaudited 6
months £
|
|
|
|
|
|
|
Revenues
|
|
-
|
-
|
|
Cost of sales
|
|
|
|
|
Gross profit
|
|
-
|
-
|
|
|
|
|
|
|
Other interest receivable
|
|
42,259
|
28,120
|
|
Administrative expenses
|
|
(126,264)
|
(124,128)
|
|
Operating loss and loss before income tax
|
4
|
(84,005)
|
(96,008)
|
|
|
|
|
|
|
Taxation
|
5
|
-
|
-
|
|
Loss
and total comprehensive loss for the period
|
|
(84,005)
|
(96,008)
|
|
|
|
|
|
|
Loss
per share attributable to the equity holders
(pence)
Basic
Diluted
|
6
|
(0.20)
(0.20)
|
(0.20)
(0.20)
|
STATEMENT OF FINANCIAL
POSITION
|
|
|
|
|
|
|
Notes
|
31/08/2024
Unaudited 6
months
£
|
31/08/2023
Unaudited 6
months
£
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
Other receivables
|
8
|
18,971
|
44,425
|
|
|
Promissory Notes granted
|
8
|
372,276
|
170,413
|
|
|
VAT Credit
|
8
|
-
|
-
|
|
|
Cash and cash equivalents
|
9
|
456,359
|
818,124
|
|
|
|
|
847,606
|
1,032,962
|
|
|
|
|
|
|
|
|
Total assets
|
|
847,606
|
1,032,962
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares
|
10
|
468,125
|
468,125
|
|
|
Share Premium Reserve
|
10
|
1,019,035
|
1,019,035
|
|
|
Options & Warrants
|
10
|
289,804
|
518,200
|
|
|
Retained earnings/(loss)
|
|
(981,014)
|
(1,035,350)
|
|
|
Total equity
|
|
795,950
|
970,010
|
|
|
|
|
|
|
|
|
Current Liability
|
|
|
|
|
|
Other payables
|
11
|
51,656
|
62,952
|
|
|
|
|
|
|
|
|
Total equity and liabilities
|
|
847,606
|
1,032,962
|
|
|
|
|
|
|
|
|
|
STATEMENT OF CASH
FLOWS
|
|
31/08/2024
|
31/08/2023
|
|
Unaudited 6
months
|
Unaudited 6
months
|
|
£
|
£
|
|
Cash flows from operating activities
|
|
|
|
|
|
|
|
Loss before tax
|
(84,005)
|
(96,008)
|
|
Increase/(decrease) in
receivables
|
25,454
|
18,581
|
|
Decrease/(Increase) in
payables
|
(11,296)
|
46,681
|
|
Change in working capital
|
(90,055)
|
(256,125)
|
|
Net
cash used in operating activities
|
(159,902)
|
(261,027)
|
|
|
|
|
|
|
|
|
|
Promissory Notes
|
(201,863)
|
(170,413)
|
|
Cash flows from investing activities
|
(201,863)
|
(170,413)
|
|
Net
cash used in investing activities
|
(201,863)
|
(170,413)
|
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
Shares Prepayment
|
|
|
|
Proceeds from the issue of ordinary
shares (net of issue costs)
|
-
|
-
|
|
Net
cash from financing activities
|
-
|
-
|
|
Net increase / (decrease) in cash
and cash equivalents
|
(361,765)
|
(431,422)
|
|
Cash and cash equivalents at the start of the
period
|
818,124
|
1,249,546
|
|
Cash and cash equivalents at the end of the
period
|
456,359
|
818,124
|
