Ajax Resources to issue shares to settle supplier and director liabilities

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Ajax shares to settle liabilities

Highlights

Ajax Resources issues 937,019 shares to two suppliers at 8 pence per share, settling debts of £41,286.48 and $45,000 respectively.
Company allocates 304,887 shares to directors Hutchinson and Heywood for £11,250 and £7,500 fees, using quarterly VWAPs between 7.99 and 4.91 pence per share.
Upon Aquis Growth Market listing expected 30 October 2026, Ajax will have 150,565,198 shares outstanding, and appoints Temeraire Partners with 1,390,411 two-year warrants at 8 pence.

Settlement terms and admission timeline

As reported by London Stock Exchange, Ajax Resources Plc has agreed to issue 937,019 ordinary shares of 1 pence each to two suppliers in settlement of outstanding invoices. One allotment covers 516,081 shares against £41,286.48 owed at an issue price of 8 pence per share, while the second covers 420,938 shares against US$45,000 owed, equivalent to £33,675.08 at current exchange rates, also at 8 pence per share.

The company is also issuing 304,887 ordinary shares to directors Michael Hutchinson and Richard Heywood in settlement of accrued fees for the period from 1 January to 30 September 2026. Those shares are priced using the volume-weighted average price for each quarter, 7.99 pence for the first quarter, 6.28 pence for the second quarter and 4.91 pence for the third quarter, in line with the company's published remuneration policy.

Application is being made for both the supplier shares and the director shares to be admitted to trading on the Aquis Growth Market. Admission is expected to become effective on or around 30 October 2026.

Ownership changes and broker appointment

Following admission, Ajax Resources will have 150,565,198 ordinary shares in issue, each carrying one voting right. The company says it holds no treasury shares, leaving the total number of voting rights at 150,565,198 for shareholder calculations under the FCA's Disclosure Guidance and Transparency Rules.

On that basis, Hutchinson is expected to hold 4,930,432 ordinary shares, equal to 3.27% of the issued share capital, while Heywood is expected to hold 3,011,908 shares, or 2.00%. The director fee settlement values are £11,250 for Hutchinson and £7,500 for Heywood.

Ajax Resources also announces the appointment of Temeraire Partners as its corporate broker. The company has issued 1,390,411 warrants to Temeraire Partners, each exercisable for one new ordinary share at 8 pence, with the warrants remaining exercisable for two years from the date of issue.

In our earlier coverage of the UK government’s deficit-reduction stance ahead of the October Budget, we outlined Chancellor John Healey’s pledge to stick with IMF-backed fiscal discipline while still aiming to support growth. We also noted the UK’s 0.1% GDP expansion in August and the rising political debate over how far tax and structural reforms should go as policymakers try to balance market confidence with pressure on households and businesses.

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