Agronomics Share Discussion Threads

[someuwin] 31/12/2023 20:42

For any newcommers looking in, this latest presentation from ANIC is a good overview of their portfolio and the opportunity

Here's a couple of slides...





Full presentation available here...

[888icb] 31/12/2023 15:40

Well done Masurenguy.
The old thread was an absolute pain not showing RNS and other background information.

[masurenguy] 31/12/2023 14:32

Host jimbob17 has not posted or updated this thread in two and a half years. Consequently, I thought that it was time for a new thread containing charts, news alerts and other relevant company data.

The new thread can be found here:

[masurenguy] 31/12/2023 14:25

Replica of the Mail's Midas recommendation published on 31 Dec 2023 and posted by davebowler on the preceding thread.

davebowler31 Dec '23 - 09:11 - 1649 of 1649

Agronomics

Every year, around 80 billion animals are slaughtered for meat, and around two trillion fish. The industry is vast, prone to controversy and accounts for more than a quarter of greenhouse gas emissions worldwide. Nonetheless, little beats a juicy steak, a piece of fresh fish or even a cold turkey sandwich after Christmas. Perhaps that is why, despite the hype, less than 5% of the population consider themselves to be vegan – and many waver. Sales of plant-based products have fallen and shares in companies such as Beyond Meat have plummeted.

Agronomics is different. The company offers consumers all the good things about meat, fish and dairy products without harming animals or the environment. It was co-founded by Jim Mellon, an entrepreneur with a history of spotting new trends and a fortune estimated at more than £800m to prove he is usually right. By his side is chairman Richard Reed, who set up Innocent Drinks in the 1990s and sold it to Coca-Cola for several hundred million dollars.

Mellon and Reed have had less luck with Agronomics, as the shares have fallen from 29p to 9.5p since 2021. But the stock now looks like a bargain. It invests in companies that make meat and fish substitutes not from plants but from the cells of real creatures. Tissue samples are taken from an animal, special cells are isolated from these samples and they are turned into meat or fish over a period of days or weeks. The process relies on clever scientists and sophisticated technology but it does not use artificial ingredients, it does not involve genetic modification and the results look and taste like the real thing, from beef to top-grade tuna.

There are 27 businesses in the portfolio, including companies that make chocolate, coffee, oil and dairy produce without going near a field or farmyard. Agronomics also owns 38% of Liberation Labs, which is building an ultra-modern facility in the American midwest to help food pioneers develop products. The site should be open for business in 2024 and is forecast to generate revenues of around £20m from 2025. Mellon and his co-founder Antony Chow expect several investments to receive regulatory approval over the next few months as well, paving the way for commercial sales.

MIDAS VERDICT: Scientists, laboratories and cells conjure up images of Frankenstein foods rather than tempting cuts of chargrilled sirloin. However, forecasters believe that cultivated meat will be a £20 billion-a-year industry by 2030, not replacing the foods we know and love but rather complementing or supplementing them. Agronomics provides investors with a chance to access this market at an early stage and the shares, at 9.5p, are worth a punt.

[masurenguy] 31/12/2023 14:19

New thread for Agronomics.

[masurenguy] 31/12/2023 14:12

Cellular agriculture can potentially address many of the world’s most pressing problems including greenhouse gas emissions, water pollution & shortages, deforestation, misallocation of land use, ocean health, animal cruelty, antibiotic resistance and climate change. Agronomics is currently the UK’s only listed vehicle providing investors with exposure to a concentrated portfolio investing exclusively in this field. The Company's strategy is to create value for Shareholders through investing in companies that operate in the nascent industry of cellular agriculture, which are environmentally friendly alternatives to the traditional production of meat, fish and plant-based sources.

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Agronomics is focused on this industry and has screened over 400 companies, investing only in the most promising start-ups. A massive flow of capital is anticipated to enter the sector in the coming decade led by the necessity to improve supply chain resilience, price stability and nation-states seeking food security. Estimates from Grandview Research and Statista, project the global food system as currently worth over US$ 2 trillion.

Annual Report for the Y/E 30 June 2023: Financial Highlights

-- Net asset value per share (NAV) at 30 June 2023 of 16.94p (2022: 14.85p), an increase of 14%.
-- Net operating profit £25,75m (2022: £12,92m) prior to the Shellbay fee of £ 3,37m (2022: £4,56m)
-- Net profit after taxation and the Shellbay fee of £22,37m (2022: £8,36m).
-- Investment income, including net unrealised gains, reflected a gain of £ 29,70m (2022: £6,42m).
-- The carrying amount of invested assets is £ 141,77m (2022: £94,81m), an increase of 49%
-- Cash and cash equivalents and cash deposits stood at £28,09m (2022: £51,48m).
-- Total assets of £ 170,20m at 30 June 2023 (2022: £146,39m).
-- Total liabilities of £1,94m at 30 June 2023 (2022: £2,48m), including the Shellbay fee of £1,68m.



Institutional Shareholders
Hargreaves Lansdown (Nominees): 86,746,982. 8.74%
BlackRock, Inc: 62,579,338. 6.31%
Canaccord Genuity Wealth Management: 57,179,122. 5.76%
Interactive Investor Services: 50,792,640. 5.12%
JPMorgan Chase Bank: 39,533,515. 3.98%
Jupiter Asset Management: 25,371,632. 2.56%

Directors Shareholdings
Jim Mellon: 152,820,363. 15.40%
Richard Reed: 6,354,412. 0.64%
David Giampaolo: 2,434,783. 0.25%
Denham Eke: 739,390. 0.07%

Company Website:

Prior thread:

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Flag counter added on 03/03/24

[davebowler] 31/12/2023 09:11

AgronomicsEvery year, around 80 billion animals are slaughtered for meat, and around two trillion fish. The industry is vast, prone to controversy and accounts for more than a quarter of greenhouse gas emissions worldwide. Nonetheless, little beats a juicy steak, a piece of fresh fish or even a cold turkey sandwich after Christmas.Perhaps that is why, despite the hype, less than 5 per cent of the population consider themselves to be vegan – and many waver. Sales of plant-based products have fallen and shares in companies such as Beyond Meat have plummeted.Agronomics is different. The company offers consumers all the good things about meat, fish and dairy products without harming animals or the environment. It was co-founded by Jim Mellon, an entrepreneur with a history of spotting new trends and a fortune estimated at more than £800 million to prove he is usually right.By his side is chairman Richard Reed, who set up Innocent Drinks in the 1990s and sold it to Coca-Cola for several hundred million dollars.Mellon and Reed have had less luck with Agronomics, as the shares have fallen from 29p to 9.5p since 2021. But the stock now looks like a bargain. It invests in companies that make meat and fish substitutes not from plants but from the cells of real creatures. Tissue samples are taken from an animal, special cells are isolated from these samples and they are turned into meat or fish over a period of days or weeks.The process relies on clever scientists and sophisticated technology but it does not use artificial ingredients, it does not involve genetic modification and the results look and taste like the real thing, from beef to top-grade tuna.There are 27 businesses in the portfolio, including companies that make chocolate, coffee, oil and dairy produce without going near a field or farmyard. Agronomics also owns 38 per cent of Liberation Labs, which is building an ultra-modern facility inthe American midwest to help food pioneers develop products. The site should be open for business in 2024 and is forecast to generate revenues of around £20 million from 2025.Mellon and his co-founder Antony Chow expect several investments to receive regulatory approval over the next few months as well, paving the way for commercial sales.MIDAS VERDICT: Scientists, laboratories and cells conjure up images of Frankenstein foods rather than tempting cuts of chargrilled sirloin. However, forecasters believe that cultivated meat will be a £20 billion-a-year industry by 2030, not replacing the foods we know and love but rather complementing or supplementing them. Agronomics provides investors with a chance to access this market at an early stage and the shares, at 9.5p, are worth a punt.Traded on: AIM Ticker: ANIC Contact: agronomics.im or 01624 777568

[someuwin] 30/12/2023 22:39

ANIC tipped as one of 4 for 2024 in Mail on Sunday...

MIDAS SPECIAL: Joanne Hart's tips for the shares showing their mettle in 2024

[someuwin] 28/12/2023 13:18

28 December 2023("Agronomics" or the "Company")New Website and Corporate PresentationAgronomics (ANIC:LSE), a leading listed company focused on the field of cellular agriculture, is pleased to announce it has launched its new website and corporate presentation at www.agronomics.im . The new materials will support the profile of Agronomics and its underlying portfolio companies in this rapidly evolving and revolutionary sector.The website and presentation will be updated on a regular basis and will feature recent highlights from the portfolio companies and the broader field of cellular agriculture.About AgronomicsAgronomics is a leading London-listed company focussing on investment opportunities within the field of cellular agriculture. The Company has established a portfolio of over 20 companies in this rapidly advancing sector. It seeks to invest in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials with a focus on products historically derived from animals. These technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage. This disruption will decouple supply chains from the environment and animals and improve food security for the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/ .About Cellular AgricultureCellular Agriculture is the production of agriculture products directly from cells, as opposed to raising an animal for slaughter or growing crops. This encompasses cell culture to produce cultivated meat and materials, and fermentation processes that harness a combination of molecular biology, synthetic biology, tissue engineering and biotechnology to massively simplify production methods in a sustainable manner.Over the coming decades, the source of the world's food supply traditionally derived from conventional agriculture is going to change dramatically. We have already witnessed the first wave of this shift with the consumer adoption of plant-based alternative proteins but today, we are on the cusp of an even bigger wave of change. This is being facilitated by advances in cellular agriculture. This change is necessary, given scientists' claims that if we maintain existing animal protein consumption patterns, then we will not meet the Paris Agreement's goal of limiting warming to 1.5 .AT Kearney, a global consultancy firm, projects that cultivated meat's market share will reach 35% by 2040. This combined with the Good Food Institute's estimate that a US $1.8 trillion investment will be required in order to produce just 10% of the world's protein using this technology, means that we are on the cusp of a multi-decade flow of capital to build out manufacturing facilities

[someuwin] 28/12/2023 11:27

The 15% Shellbay fee is 15% of the increase in NAV. So the better ANIC performs, the higher the fee. This seems reasonable to me as they are doing most of the background work here. Also it can be paid in cash or shares or both.

Ultimately the prize here could be huge as their investment companies commercialise so not too concerned.

[superiorshares] 27/12/2023 17:37

I didn't bother reading the results.
As I have said before , the only winners here will be the directors and their cronies

[herbert0] 27/12/2023 15:19

See note 2 of the accounts.
Operating costs of companies can be higher than £3m/£24 here

[xamf] 27/12/2023 14:22

The market that ANIC invests in could produce huge growth. However after further research I've just sold @ 9.6p taking a small profit.

On paper the results look great but (as I understand it) this is profit based on NAV revaluations as the constituent assets aren't yet cash generative.. That in itself isn't a problem as there is quite a difference between the share price and NAV price to make a good investment case here. However the 15% fee taken by Shellbay just doesn't sit right (Jim Mellon is a director of both ANIC & Shellbay). With such fantastic growth opportunities in my opinion the cash should have been kept in ANIC to help fund their investment assets to profitability. Any thoughts?

[someuwin] 27/12/2023 12:39

Lots of good things in that report - starting to get very interesting now.

[septblues] 27/12/2023 09:27

NAV per share c 17p
up 40+% on last year

[xamf] 27/12/2023 09:06

Just picked more up at 9.52p on a spread of 9.5 / 9.8p. Market Makers never cease to surprise!

[someuwin] 27/12/2023 08:50

27 December 2023

Agronomics Limited

("Agronomics" or the "Company")

Annual audited results for the year ending 30 June 2023

Notice of AGM

The Board of Agronomics, a leading listed investor in cellular agriculture, is pleased to announce its annual results for the year ending 30 June 2023.

Copies of the 2023 Audited Report and Financial Statements are being posted to shareholders and will shortly be available from the Company's website, , in the investor portal section, under the financial reports tab.

The Company will post its Notice of Annual General Meeting ("AGM") to Shareholders at the same time. The AGM will be held at the Sanderson Suite, Claremont Hotel, Loch Promenade, Douglas, Isle of Man IM1 2LX at 10:00 a.m. on 8 February 2024.

The Board considers it important that all shareholders should have the opportunity to exercise their voting rights at the AGM. To this end, the Company invites shareholders to complete the voting proxy form as early as possible. Shareholders may also submit questions to the Company Secretary either in writing at the registered office or by email to [e-mail] prior to the meeting and as early as possible.

Financial Highlights

-- Net asset value per share (NAV) at 30 June 2023 of 16.94 pence (2022: 14.85 pence), an increase of 14%.

-- Net operating profit of GBP25,746,348 (2022: GBP12,920,927) prior to accounting for the Shellbay fee due of GBP 3,372,672 (2022: GBP4,562,548)

-- Net profit after taxation and the Shellbay fee of GBP 22,373,676 (2022: GBP8,358,379).
-- Investment income, including net unrealised gains, reflected a gain of GBP 29,703,324 (2022: GBP6,423,869).
-- The carrying amount of invested assets is GBP 141,773,297 (2022: GBP94,813,088), an increase of 49%

-- Cash and cash equivalents and cash deposits stood at GBP28,093,984 (2022: GBP51,482,501).
-- Total assets of GBP 170,203,091 at 30 June 2023 (2022: GBP146,398,248).
-- Total liabilities of GBP1,946 ,093 at 30 June 2023 (2022: GBP2,485,346), including the cash portion of the Shellbay fee due of GBP1,686,336.

Operational Highlights

-- Led four funding rounds including the Series A round of All G Foods, the Seed round of UK-based fermentation company Clean Food Group, the Seed round of contract manufacturer Liberation Labs, and the seed financing round of HydGene Renewables Pty Ltd's, to engineer microorganisms for hydrogen production.

-- In August 2022, Agronomics led All G Food Holding Pty Ltd's (All G Foods) AUD 25 million Series A Round with an AUD 15 million investment. All G Foods is a precision fermentation company based in Australia focusing on the production of sustainable dairy products and proteins.

-- In August 2022, Agronomics led Clean Food Group Limited's (Clean Food Group) seed financing with a GBP577,500 investment. Clean Food Group owns intellectual property developed by the University of Bath for a technology platform that produces a bio-equivalent palm oil alternative using microbial fermentation.

-- In October 2022, Agronomics announced a US$ 7million additional investment into Liberation Labs Holdings as part of a US$ 20 million Seed financing round. Agronomics precision fermentation contract manufacture portfolio company, Liberation Labs, has made significant progress, including selecting its first site in Richmond, Indiana, US, for its 600,000-litre capacity commercial plant.

-- In February 2023, Agronomics announced a US$ 500,000 investment in Wild Microbes Company's (Wild Microbes) US$ 3.3 million pre-seed financing. The company has proprietary technology that allows it to genetically engineer novel microbial strains for use as host organisms to produce proteins and other valuable molecules.

-- In June 2023, Agronomics announced a AUD 2.5 million investment in HydGene Renewables Pty Ltd's (HydGene). HydGene engineer's microorganisms act as a proprietary biocatalyst for the production of green hydrogen. The catalyst enables the conversion of waste biomass into gases such as hydrogen and ammonia.

Post-period End Highlights

-- During the post-period, the United States Department of Agriculture ("USDA") awarded Ameris Bancorp ("Ameris Bank") a US$ 25 million "Business and Industry" loan guarantee to help the continued build and the completion of Liberation Labs manufacturing facility.

-- Agronomics invested EUR4 million as part of Meatable's EUR30 million Series B financing round to help further scale Meatable's production processes and accelerate its commercial programme in target markets to deliver cultivated meat products that are price competitive with traditional meat.

-- Portfolio company BlueNalu, Inc. raised US$ 33.5 million from new and existing investors in a Series B round. The financing will enable the next stage of BlueNalu's growth and its continued progress towards scaling and commercializing healthy and sustainable seafood in the U.S. and around the world. BlueNalu plans to launch its first commercial product, premium bluefin tuna toro, following regulatory approval. Agronomics has invested, in aggregate, US $8 million across BueNalu's various funding rounds.

Jim Mellon, Chairperson of Agronomics Limited, commented:

"This financial year has been another strong year of growth for Agronomics and has seen significant progress made across our diverse portfolio within the field of cellular agriculture. We have made investments in new and existing portfolio companies across three main areas; cultivated meat and material, precision fermentation and enabling technologies.

Our conservative valuation methodology leads us to believe that there is significant intrinsic value within our portfolio, and we remain well positioned to identify attractive opportunities in the sector. Agronomics has maintained its strong cash position to ensure reserves to support existing portfolio companies where we have high levels of conviction. However, we have also participated in select new deals as investment and commercial progress continues to develop across the sector. We recognise the persistent market turmoil and whilst this reflects the wider macroeconomic environment, we maintain our optimism for the cellular agriculture field.

During the year, the industry also made significant progress and saw the first approval of cultivated meat product in the US by the FDA and USDA. This was a landmark event for the field of cultivated meat and moves us further along the path to full scale commercialisation. We look forward to further approvals from within Agronomics' leading portfolio of companies and we expect to start seeing regulatory approvals across our portfolio in major protein categories from 2024.

The portfolio continues to show great robustness in the market downturn, as shown by the number of funding rounds that continue to be achieved with uplifts. We have to address the nature of venture capital, and the likelihood of sector consolidation in the near term, as category leaders are identified.

We believe our current investment portfolio contains many of these category leaders and shows considerable promise for future growth, particularly given the scale of opportunity for the cellular agriculture sector. The Board will also continue to seek new opportunities in line with its Investing Policy, and we look forward to the future with confidence."

[lennonsalive] 23/12/2023 23:51

How are the buybacks going here?Merry Christmas all

[1chrism] 23/12/2023 12:46

Cell. Ag. review of COP28https://www.greenqueen.com.hk/cop28-food-and-agriculture-experts-takeaways/

[quepassa] 23/12/2023 11:12

Haha.

I can be very positive too!


However, I did pen the following post recently on another small-cap thread:-

.........


How can one forget Obi-Wan Kenobi's words just before entering The Cantina with a very young Luke Skywalker:-

"You will never find a more wretched hive of scum and villainy. We must be cautious".


-He clearly had not yet visited the AIM universe.


.........




ALL IMO. DYOR.
QP

[superiorshares] 21/12/2023 18:50

The Great Man Mr Farage , is going for a Vegan Lunch .
That should please you extremist, weirdo Vegans on here .

[quepassa] 21/12/2023 13:27

There are too many RNS's by far.

So many, that I for one have stopped bothering to read them. And I am quite certain that I am not the only one.

And nowhere near enough NAV declarations.

Let alone the glaring absence of any month-end Fact-sheet which most grown-up funds would want to offer investors as a matter of course. And which would be the correct and appropriate forum to update shareholders on most investee company achievements.

Great sector but it remains my opinion that ANIC management still need to prove themselves and do not foster shareholder confidence.

ALL IMO. DYOR.
QP