Update on Euronext Growth Oslo Admission & Private Investor Subscription Fully Subscribed
22 October 2026
AJAX RESOURCES PLC
("Ajax" or the "Company")
Update on Euronext Growth Oslo Admission
Private Investor Subscription Fully Subscribed
Ajax [AQSE: AJAX], the natural resources investment company, announces that, further to its notification of 20 October 2026, the Private Investor Subscription has closed fully subscribed. Eligible private investors have subscribed for the full 2,656,000 Private Investor Subscription Shares made available at a subscription price of NOK 1.00 per share, raising gross proceeds of NOK 2,656,000, equivalent to approximately EUR250,000 (£211,000) at current exchange rates.
Together with the Subscription for 26,560,000 Subscription Shares, the Financing comprises a total of 29,216,000 new Ordinary Shares at NOK 1.00 per share, raising total gross proceeds of approximately EUR2.75m (£2.32m).
The net proceeds of the Financing will be applied as set out in the Company's announcement of 20 October 2026. Admission remains conditional upon the Ordinary Shares having an open market price on the Aquis Stock Exchange equivalent to at least NOK 1.00 per share on 23 October 2026, together with the satisfaction of all other applicable admission requirements and receipt of the necessary regulatory approvals and is expected to occur on or around 26 October 2026.
Admission and Total Voting Rights
Application has been made for the Subscription Shares and Private Investor Subscription Shares to be admitted to trading on the Aquis Growth Market, with Admission expected to become effective on or around 26 October 2026.
On Admission, the Company will have 149,325,292 Ordinary Shares in issue, each with one voting right. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company is 149,325,292. This figure should be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
A further announcement will be made on Admission/in due course.
Unless otherwise defined herein, defined terms used in this announcement have the same meaning as those set out in the Company's announcement released at 07:00 a.m. on 20 October 2026.
Ippolito Ingo Cattaneo, Chief Executive Officer of Ajax Resources Plc, commented:
"We are very pleased that the Private Investor Subscription has been fully taken up. The level of demand from private investors, alongside the institutional support for the Subscription, is a strong endorsement of our strategy and brings a broader base of Nordic and international shareholders into Ajax ahead of our proposed admission to Euronext Growth Oslo.
We thank all of our new and existing shareholders for their support and look forward to updating the market on Admission."
- ENDS -
For further information:
Ajax Resources Plc
Ippolito Ingo Cattaneo, Chief Executive Officer Tel: + 44 (0) 208 146 6345 info@ajaxresources.com
Allenby Capital Limited (Aquis Corporate Adviser) Nick Harriss / Nick Naylor / Ashur Joseph Tel: + 44 (0) 203 328 5656 n.harriss@allenbycapital.com
Bowsprit Partners (Euronext Growth Oslo Adviser) John Treacy / Francesco Cicconi Tel: +44 (0) 203 883 4430
About Ajax Resources Plc
Ajax Resources Plc is a UK natural resources investment company listed on the Aquis Stock Exchange (AQSE: AJAX). The Company was previously listed on the FCA Official List of the Main Market of the London Stock Exchange as a Special Purpose Acquisition Company (SPAC) before transitioning to its current strategy as an operational natural resources investment vehicle.
Ajax is focused on identifying, acquiring and advancing assets containing copper, gold, silver, zinc, uranium and lead - commodities supported by strong long-term demand fundamentals. The Company's strategy centres on the acquisition and development of assets with historical production, significant untapped or latent potential, and substantial exploration upside, typically secured on highly advantageous terms. Ajax aims to progress these assets through development and into production, with the objective of generating