Press Release

20 December 2023

Ashington Innovation plc

("Ashington" or "the Company")

Issue of Equity

Ashington Innovation plc (LSE: ASHI; FSE: 6FW), a special purpose acquisition company, announces that on 8 December 2023 the Company issued 1,200,000 ordinary shares of £0.01 in the Company ("Ordinary Shares") to a former Director in lieu of payment for services as a Director at a price of £0.03 per Ordinary Share.

The Company's shares are currently suspended pending the re-admission of the Company to the Main Market of the London Stock Exchange ("Re-admission").  The new Ordinary Shares, which will rank pari passu with the existing Ordinary Shares, will be admitted to trading upon Re-admission.

Total voting rights

Following the issue, the Company has 62,597,898 Ordinary Shares in issue. The Company does not currently hold any shares in treasury and therefore this figure may be used by shareholders in the Company as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. 

For further information, please contact:

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.ashingtoninnovationplc.com