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I bought into Ajax Resources last week simply because I looked at the significant shareholders section and recognised the name First Corporate Consultants. For those that don’t know, this is a company run by Terrence Mourdant who is a very big name down here in the West Country. Through First Corporate Consultants he owns the lease on Bristol docks and via that and other investments he has made himself a very rich man. The 2019 Sunday Times Rich List put his net worth at £380 million but knowing what I do about him I would say that this figure significantly underestimates his real value.
I have had some experience of working alongside Terrence and his agents in the past and I can assure you that he is a very smart man who makes money at pretty much everything he does. If he is invested here then it is a very good sign, and he is definitely not the kind of man who only wants a small return on his investment. He has invested £100,000 here and my suspicions are he will want at least a five times ROI. I’m just happy to hold onto his coat-tails and come along for the ride.
Somerset very interesting thanks for sharing.
I was just re-reading the prospectus and notice on page 35 the line that says: "Given that, with effect from Admission, the Company will be dealing with limited financial resources the Directors have undertaken not to receive any remuneration for their services until an Acquisition has been completed".
Fair play to the directors, they have put their own money into the company, own bucket loads of shares that are locked up until next year and are not taking a wage until they acquire an asset. It looks like, for once, the directors of a small cap company will only make money if shareholders do, when the share price goes up.
Still quiet will add to my holding before the fun begins
Does anyone have the companies email? Going to email and see which projects are on the go. Thanks in advance
Quite intrigued to see what assets are lined up for this company, either way we are currently at 0 level so anything good will shift this stock rapidly up from here with huge liquidity.
Just joined the party with a very small holding to start with - seems like a good punt with directors and shareholders interest aligned.
AJAX RESOURCES PLC
("Ajax" or the "Company")
Final Results for the period from incorporation to 28 February 2022
Ajax [LSE: AJAX], the UK listed special purpose acquisition company with a focus on natural resources, is pleased to announce its final results and the publication of its audited annual report for the period from incorporation to 28 February 2022 (the "Annual Report"). A copy of the Annual Report will shortly be posted on the Company's website, https://www.ajaxresources.com, and can also be viewed here:
http://www.rns-pdf.londonstockexchange.com/rns/4710V_1-2022-8-9.pdf
The Company's annual general meeting ("AGM") for the period from incorporation to 28 February 2022 will be held at 11:00 AM BST on 31 August 2022 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 will be posted on the Company's website shortly in accordance with the Company's Articles of Association.
Key elements from the Annual Report have been extracted and can be viewed below.
- ENDS -
Outlook
As we look to our future near-term progress, we are greatly encouraged by the current energy pricing climate and the many opportunities we believe this has created for experienced and well-connected management teams. To this end, our efforts are proactively now 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 set to increase exponentially in the years ahead, and the Company is looking to target these resources to astutely 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.
Michael Hutchinson Non-Executive Chairman
Looks like a fresh new company to buy in at bottom
As the company will initialise its business with the use of funds, it will easily rise with the cash in hand