TIDMAJAX
RNS Number : 5549H
Ajax Resources PLC
07 April 2022
April 7, 2022
AJAX RESOURCES PLC
("Ajax" or the "Company")
Ad m i ssion to Tr a d ing a nd Fi rst Day of Dea l i n gs
Ajax Resources P lc ("Ajax" or the "Company"), a special purp o
se acquisiti on c o m pany established to deliver shareholder value
through the acquisition of businesses or production and development
assets in the energy and natural resources sector, is pleased to an
n o un ce that, following an initial public offering ("IPO"), it
has rai sed gross p r o cee ds of GBP 1,342,000 thr o ugh the issue
of 33,550,000 new ordinary shares (the "IPO Shares") at a price of
GBP 0.04 per IPO Share, of which the B oard of Direct ors (the " B
oar d ") has invested an aggregate amount of GBP 1 30 , 0 0 0.
Application has been made for the entire issued share capital of
46,862,500 ordin ary shares, by way of a Standard Listing, to be a
d mitted to trading on the Main Market for listed securities of the
Lo n d on St o ck Exc hange.
D ealings in the Ordinary Shares are expected to com mence at 8
: 00 AM on April 7, 2022, under the ticker "AJAX" (ISIN :
GB00BLNBD412).
Investment Highlights
The Company's initial focus will be to acquire an exploration or
production company or business or asset(s) with operations in new
energy or natural resources. The Company will seek a target to
purchase where the Company can play an active role in the
optimisation of strategy and execution and enhance existing
management capabilities through the Directors' proven management
skills and depth of experience.
N o r e mu nerat i on shall be p a yab le to the B o ard or
management u n til c omp l e t i on of t he C o m pan y 's first
acqu isiti on. F oll o wing ad missi on of the Ordinary S h ares to
trad i ng on the Main M arket, the Dir ect ors will own a p pr o x
i m a tely 27.84% of the C ompan y, ensuring sig nifica nt alig n
ment w ith all shareh o l d ers. It is in te n ded that any c osts
are to be kept to a m i n i m um a nd main b usiness acti v ities
will be kept in-h o u se.
Additio nall y, Direct ors will be issued 9 ,372,5 00 options
(the "Director Options") which will v est when the Company's sha re
price reaches GBP0.08 or upon the successful completion of an
acquisition. The Director Options are e xercisab le at the IPO
price of GBP0.04 and ex pire in 5 years.
Ippolito Ingo Cattaneo, Chief Executive Officer of Ajax,
commented:
"We are delighted with the su pp o rt we h a ve r eceived f or
Ajax's li sting and wou ld like to th a nk a ll our n ew sha rehol
d e rs for sharing the Board's confidence in our enterprise. The
current energy market environment has created many attractive
opportunities, and we a re therefore greatly excited to begin
implementing our st r a tegy, leveraging on our Board's extensive
natural resources expertise and networks to identify production and
development assets in low-risk jurisdictions, which can be
developed to generate significant shareholder value."
About Ajax:
Ajax aims to u se its str ong management ex perience and relatio
nships to acq uire interests in proven, low-risk d e vel o pm e nt
pro jects that hold significant undevelo ped u pside potential, as
well as access to existing infrastru cture.
The Prospectus published by Ajax in connection with Admission
can be found on the Company website ( www.ajaxresources.com ).
The Board
The B oard currently co m prises three Direct ors, who
collectively have ex tensive experien ce and a pro ven track rec
ord in o perating publicly qu o ted c om pan ies, invest ment, c
orp orate finance and business acquisitio n, o peration and d e vel
o pment in the energy sec t or, and are well placed to im ple ment
the C o m pan y 's business o b ject i ves and strate g y.
Ippolito Cattaneo, Chief Executive Officer
Ippolito is a UK national with a bachelor's degree from the
University of Bristol. He has a blend of financial and oil &
gas experience, having started his working life at Standard
Chartered Bank. He has worked for more than five years at Zenith
Energy Ltd (an international energy company listed on the Main
Market of the London Stock Exchange and Euronext Growth of the Oslo
Stock Exchange) as Business Development and Investor Relations
manager. During this time, he has gained significant experience in
a multiplicity of regulatory environments, as well as playing an
important role in enabling Zenith Energy to implement its
development objectives in Africa and in other regions, both
operationally and on a corporate level.
Ippolito has significant operational experience, having taken a
key role in Zenith's activities in Tunisia, Italy, and the Republic
of the Congo. He has in-depth knowledge of the requirements for
project procurement and financing from beginning to completion, as
well as having experience in the development of strategy and
investor communications for listed companies.
Michael Hutchinson, Non-Executive Chairman
Michael Hutchinson began his career at Metallgesellschaft Ltd
where he worked for 25 years, ultimately becoming the Managing
Director in 1985. Metallgesellschaft Ltd was a metal trading
subsidiary of one of Germany's largest industrial conglomerates.
Notably, he was a Board Member between 1986-2006 of the world's
largest market for industrial metal's trading, the London Metals
Exchange (LME). Since this time, he has held several senior board
and management roles, including Chairman of Metalloyd Ltd, a major
supplier of steel and raw materials to traders, destructors and
end-users and Chairman of Wogen Ltd, a speciality metals trading
house.
He previously served as Non-Executive Chairman (from 2017-2021)
of Bluejay Mining Plc, an AIM quoted mining exploration and
development company, where he is presently a Non-Executive Director
since January 2021.
In addition, he currently also serves Chairman of Tiberius Group
AG, a commodity trading and investment company based in the canton
of Zug, Switzerland.
Luca Benedetto - Chief Financial Officer & Executive
Director
Luca Benedetto is an Italian national, trained in Italy as a
registered accountant with further education in IFRS accounting and
consolidation at IPSOA Milan. He has more than twenty-five years of
accounting, auditing, and financial administration experience. Mr.
Benedetto began his professional career as an accountant and
computer programmer responsible for financial software development
and worked for the Italian division of IBM as an internal auditor
and accountant. He also was employed for seven years as a financial
and administrative officer in a well-known Italian company
specialising in the construction of fuel and water storage
reservoirs.
Luca currently serves also serves as Managing Director of
Zenith's Italian operations which produce natural gas and
electricity. He has significant experience in the identification of
projects and subsequent project financing through debt, equity, and
mezzanine financing. He has both financial and operational
expertise in the requirements of exploration, discovery, and
subsequent production of natural resource projects.
Further information :
Ajax Resources Plc Tel: + 44 (0) 208 146 6345
Ippolito Cattaneo, Chief Executive info@ajaxresources.com
Officer
Clear Capital Markets (Corporate Tel: +44 (0)20 3869 6080
Broker) keithswann@clear-cm.co.uk; jonathancritchley@clear-cm.co.uk
Jonathan Critchley/ Keith Swann
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Allenby Capital Limited (Financial Tel: + 44 (0) 203 328 5656
Adviser) n.harriss@allenbycapital.com
Nick Harriss
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Camarco (Financial PR) Tel: +44(0) 20 3757 4996
Georgia Edmonds / Emily Hall emily.hall@camarco.co.uk
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END
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(END) Dow Jones Newswires
April 07, 2022 02:00 ET (06:00 GMT)
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