REG - Ashington Innovation - Interim results

Ashington InnovationAnnouncement

30/09/2025 07:00

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RNS Number : 2303B  Ashington Innovation PLC  30 September 2025

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014, as retained as part of the law of England and Wales. Upon
the publication of this announcement via the Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

Press Release

 

30 September 2025

Ashington Innovation plc

 

("Ashington" or "the Company")

 

Interim results

 

Ashington Innovation plc (LSE: ASHI; FSE: 6FW), a special purpose acquisition
company ("SPAC"), announces its unaudited results for the six months ended 30
June 2025.

 

Interim Management Report:

During the period, the Board of Directors continued to assess potential
acquisition targets across the financial technology ("fintech") and deep
technology sectors, with the purpose of creating a combined business which
will generate increased value for the Company's shareholders.

 

Ashington's opportunity for a value-generating acquisition remains strong. The
global market for fintech is continuing to grow, with fintech revenues rising
21% year-on-year in 2024 (source: Boston Consulting Group, 2025), and the deep
tech sector is expected to be valued at $714.6 billion by 2031 (source:
IndustryARC, 2025).

 

The Company is in early stage discussions with a number of potential targets
and will provide an update to the market if and when negotiations become
suitably advanced.

 

No revenue was generated during the period and the Company incurred a loss
before tax of £117,478, reflecting the ongoing operating costs of being a
listed company. The Directors have a reasonable expectation that the Company
has adequate resources or access to further capital to continue in operational
existence for the foreseeable future and for this reason will continue to
adopt the going concern basis.

 

The interim financial report is available for download from the Company's
website (www.ashingtoninnovation.com (http://www.ashingtoninnovation.com) ).

 

For further information please contact:

 Ashington Innovation plc
 Peter Presland                                                     via Tancredi +44 207 887 7633

 Non-Executive Director
 Tancredi Intelligent Communication

 Media Relations
 Charlie Hobbs                                                      +44 7897 557 112

 Ana Djordjijevic                                                   +44 7727 346 877

 ashington@tancredigroup.com (mailto:ashington@tancredigroup.com)

 

About Ashington Innovation plc

 

Ashington Innovation plc is a special purpose acquisition company (SPAC),
formed with the intention of acquiring businesses operating in the technology
sector, in particular the financial services technology and deep technology
sectors.

 

The Company believes that in the increasingly fast-changing global environment
there will be an abundance of opportunities to acquire existing businesses in
the technology sector, and in particular businesses that possess and utilise
proprietary technologies and own applicable intellectual property.

 

The Company is not limited to any specific geographic region in identifying
its target companies. www.ashingtoninnovation.com
(http://www.ashingtoninnovation.com) .

 

Forward-looking statements:

This announcement may contain "forward-looking" statements and information
relating to the Company. These statements are based on the beliefs of Company
management, as well as assumptions made by and information currently available
to Company management. The Company does not undertake to update
forward‐looking statements or forward‐looking information, except as
required by law.

 

Interim Statement of Comprehensive Income

 

                             6 months ended 30 June 2025 (unaudited)  6 months ended 30 June 2024 (unaudited)  Year ended 31 Dec 2024 (audited)
                             £                                        £                                        £
 Administrative expenses     (117,478)                                (202,036)                                (268,751)
 Finance income                                                                                                193
 Loss from operations        (117,478)                                (202,036)                                (268,558)
 Loss before tax             (117,478)                                (202,036)                                (268,558)
 Tax expense                 -                                        -                                        -
 Loss for the period         (117,478)                                (202,036)                                (268,558)
 Total comprehensive income  (117,478)                                (202,036)                                (268,558)

 

                                                6 months ended 30 June 2025 Pence  6 months ended 30 June 2024 Pence  Year ended 31 Dec 2024 Pence
 Basic and diluted loss per share (see Note 3)  (0.16p)                            (0.32p)                            (0.37p)

 

Interim Statement of Financial Position

                              As at 30 June 2025 (unaudited)  As at 30 June 2024 (unaudited)  As at 31 Dec 2024 (audited)
 Note                         £                               £                               £
 Assets
 Current assets
 Trade and other receivables  7,580                           41,515                          30,518
 Cash and cash equivalents    92,581                          62,239                          185,810
 Total assets                 100,161                         103,844                         216,328
 Liabilities
 Current liabilities
 Trade and other payables     117,754                         137,427                         116,443
 Total liabilities            117,754                         137,427                         116,443
 Net liabilities              (17,593)                        (33,583)                        99,885
 Issued capital and reserves
 Share capital                725,979                         625,979                         725,979
 Share premium reserve        915,988                         815,998                         915,988
 Retained earnings            (1,659,560)                     (1,475,560)                     (1,542,082)
 TOTAL EQUITY                 (17,593)                        (33,583)                        99,885

 

Interim Statement of Changes in Equity

                                                Share capital  Share premium  Retained earnings  Total equity
                                                £              £              £                  £
 At 1 January 2024                              625,979        815,998        (1,273,524)        168,453
 Comprehensive income for the period
 Loss for the year                              -              -              (202,036)          (202,036)
 At 1 July 2024                                 625,979        815,998        (1,475,560)        (33,583)
 Comprehensive income for the period
 Loss for the period                            -              -              (66,522)           (66,522)
 Contributions by and distributions to owners
 Issue of share capital, net of costs (Note 4)  100,000        99,990         -                  199,990
 At 1 January 2025                              725,979        915,988        (1,542,082)        99,885
 Comprehensive income for the period
 Loss for the period                            -              -              (117,478)          (117,478)
 At 30 June 2025                                725,979        915,988        (1,663,284)        (17,593)

 

Interim Statement of Cash Flows

                                                     6 months ended 30 June 2025 (unaudited)  6 months ended 30 June 2024 (unaudited)  Year ended 31 Dec 2024 (audited)
                                                     £                                        £                                        £
 Cash flows from operating activities
 Loss for the period                                 (117,478)                                (202,036)                                (268,558)
 Movements in working capital:
 (Increase)/decrease in trade and other receivables  22,938                                   (19,546)                                 (8,549)
 Increase/(decrease) in trade and other payables     1,311                                    (39,235)                                 60,219
 Net cash used in operating activities               (93,229)                                 (260,817)                                (337,326)
 Cash flows from financing activities
 Issue of ordinary shares                            -                                        -                                        199,990
 Net cash from financing activities                  -                                        -                                        199,990
 Net increase in cash and cash equivalents           -                                        -                                        (137,336)
 Cash and cash equivalents at beginning of period    185,810                                  323,146                                  323,146
 Cash and cash equivalents at end of period          92,581                                   62,329                                   185,810

 

 

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