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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).
For further information please contact:
| Ashington Innovation plc | |
| Peter Presland Non-Executive Director | via Tancredi +44 207 887 7633 |
| Tancredi Intelligent Communication Media Relations | |
| Charlie Hobbs Ana Djordjijevic | +44 7897 557 112 +44 7727 346 877 |
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.
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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