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Druces advises Ajax Resources on its Main Market IPO and fundraising of approximately £1.3m

Druces’ Capital Markets team has advised Ajax Resources PLC, in connection with a placing of 9,050,000 Ordinary Shares and subscription of 24,500,000 Ordinary Shares at a price of £0.04 per Ordinary Share each raising gross proceeds of approximately £1,342,000. The team also advised Ajax on its admission to the Official List (by way of a Standard Listing) and to trading on the London Stock Exchange plc’s Main Market for listed securities.

Ajax will focus on acquiring a natural resource production and development project in a low-risk jurisdiction, leveraging on the opportunity identification capabilities and experience of its Board, to access compelling development assets and implement operating efficiencies to create significant shareholder value.

Druces’ Capital Markets team included Christopher Axford (Partner), Jack Dervyn (Senior Associate) and Mark Lamph (Associate).

Christopher Axford commented:

We are delighted to have assisted Ajax Resources with its listing on the main market and in securing the funding to finance its venture into the energy and natural resources sector. We look forward to working with Ajax Resources as they continue to develop and grow their business.

Ippolito Ingo Cattaneo, Chief Executive Officer of Ajax Resources, commented:

“We thank Chris, Mark and the Druces team for their support in what has been a complex listing process following the recent rule changes implemented by the FCA. We are pleased to have worked with Druces and we look forward to continued cooperation in the future as we successfully develop the business.”

Further information

To find out more about Druces’ Capital Markets services, please speak to our team below or fill in the contact form:

Christopher Axford

Christopher Axford

Partner, Head of Corporate

Mark Lamph

Mark Lamph

Associate

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