Ashington Innovation Plc is a company incorporated in England and Wales (company number 12758732) 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’s objective is to generate an attractive rate of return for Shareholders, predominantly through capital appreciation, by taking advantage of opportunities to invest in the technology sector (in particular, the fintech and deep tech sectors) and operating the companies or businesses that it acquires.

The Directors’ intention is to create a trading business, rather than an investment entity. The Directors consider the potential vendors of target companies or businesses will be attracted by the opportunity to hold an interest in a London listed company with cash, access to capital markets and the know-how to develop the business.

The Company is not limited to any specific geographic region in identifying its target companies.

The Company’s registered office is 27/28 Eastcastle Street, London, United Kingdom, W1W 8DH.

Investment Case

In the increasingly fast-changing global environment there will be an abundance of opportunities to acquire existing businesses in the technology sector. Continuing turbulence in international markets combined with ongoing geopolitical uncertainty, increasing global interest rates, increasing costs (and shortages) of materials and increasing staff costs will in the opinion of the Directors create a substantial tightening of available funding for many businesses in the Company’s target acquisition sectors leading to more opportunities to acquire businesses with significant growth potential at a material discount to asset value.

The Company intends to search for acquisition opportunities in the financial services technology (“fintech”) and deep-technology (“deep tech”) sectors. In particular, the Directors intend to seek businesses that possess and utilise proprietary technologies and own applicable intellectual property.

The Directors will seek a significant acquisition which adds strategic value to its longer-term investment focus but will remain open to opportunities in earlier stage “scale-up” businesses.

Although the Company has been formed to undertake the Acquisition of a business in the technology sector, the Company may seek to simultaneously acquire one or more businesses that have complementary products or technology in order to create one larger company.

Initially the Directors will use their own research and their own network to identify potential targets from the technology sector and will use their expertise to assess propositions and then initiate discussions via market contacts and professional advisers. The Directors will use their personal networks and their professional advisors to invite prospective partners to come forward.

The Directors believe that the combination of circumstances referred to above, together with the skills and strengths of the Board, will enable the Company to identify a suitable acquisition opportunity to generate shareholder value in the Company.