Agronomics Limited Announces Sale of Oritain Shares (2857N)

TIDMANIC

RNS Number : 2857N

Agronomics Limited

29 September 2021

29 September 2021

Agronomics Limited

("Agronomics" or the "Company")

Announces Sale of Oritain Shares

Agronomics, the leading listed alternative proteins company focused on cellular agriculture and cultivated meat, is pleased to announce the disposal of its total holding of 40,000 shares in Oritain Global Limited ("Oritain") for NZ$ 1.36 million (approximately GBP0.7 million), representing an IRR of 74%. Agronomics invested in Oritain in December 2019. The proceeds will be used to provide further funding for opportunities within the field of cellular agriculture, inclusive of supporting existing companies, as well as identifying new opportunities.

About Agronomics

Agronomics is a leading listed alternative proteins company with a focus on cellular agriculture and cultivated meat. The Company has established a portfolio of 16 companies at the Seed to Series B stage in this rapidly advancing sector. It seeks to secure minority stakes 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, as well as being fundamental to feeding the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/.

About the Cultivated Meat Sector

Funding in the cultivated meat sector is growing rapidly with approximately US$ 170 million invested worldwide between 2016-2019 and over US$ 270 million raised in 2020 alone. Additional financings are anticipated as the capital requirements of these companies grows to build out and scale up manufacturing facilities. Currently it is estimated that there are 60 companies globally within the sector. AT Kearney, a global consultancy, has predicted that Cultivated Meat's market share of meat consumption will be 35% by 2040.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information please contact:

 
       Agronomics             Beaumont             Cenkos             Peterhouse 
         Limited           Cornish Limited       Securities             Capital                TB Cardew 
                                                     Plc                Limited 
      The Company              Nomad            Joint Broker         Joint Broker          Public Relations 
                        ------------------  ------------------  ---------------------  ------------------------ 
      Richard Reed         Roland Cornish      Giles Balleny         Lucy Williams            Ed Orlebar 
       Denham Eke           James Biddle       Michael Johnson     Charles Goodfellow        Joe McGregor 
                        ------------------  ------------------  ---------------------  ------------------------ 
                                                                                           [phone] 
                                                                                                 0777 
      +44 (0) 1624                                                                           +44 (0) 7738 
         639396             +44 (0) 207         +44 (0) 207           +44 (0) 207               724 630 
   [e-mail]         628 3396            397 8900              469 0936        [e-mail] 
                        ------------------  ------------------  ---------------------  ------------------------ 
 

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September 29, 2021 02:00 ET (06:00 GMT)