Agronomics Limited Directors' Dealings (8291Y)

TIDMANIC

RNS Number : 8291Y

Agronomics Limited

09 May 2023

9 May 2023

Agronomics Limited

("Agronomics" or the "Company")

Directors' Dealings

Agronomics, the leading listed company focused on the field of cellular agriculture, is pleased to confirm that Jim Mellon, Executive Director, a PDMR, purchased an additional 392,000 ordinary shares in the Company ("Ordinary Shares") at an average price of 11.56 pence per share on 5th May 2023.

Following these transactions, Jim Mellon is interested in a total of 154,553,366 Ordinary Shares, representing 15.56% of the issued capital, of which 139,448,641 are held by Galloway Limited and 12,722,764 are held by Shellbay Investments Limited, companies which are both indirectly wholly owned by Jim Mellon, and 2,381,961 Ordinary Shares are held directly by Mr Mellon.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

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 over 20 companies 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 and be fundamental to feeding the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/ .

About Cellular Agriculture

Cellular 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 $1.8 trillion investment will be required in order to produce just 10% of the world's protein using this technology, means that we are on the cusp of a multi-decade flow of capital to build out manufacturing facilities. Funding in the field of cellular agriculture is accelerating, however, still, less than US$ 5 billion has been invested worldwide since the industry's inception in 2016.

For further information please contact:

 
       Agronomics               Beaumont           Canaccord Genuity             Cenkos            Peterhouse Capital 
         Limited             Cornish Limited            Limited              Securities Plc              Limited 
      The Company                Nomad               Joint Broker             Joint Broker            Joint Broker 
                        ======================  ======================  ======================  ====================== 
      Richard Reed           Roland Cornish          Andrew Potts            Giles Balleny           Lucy Williams 
       Denham Eke             James Biddle            Harry Rees             Michael Johnson       Charles Goodfellow 
                                                  Alex Aylen (Head of 
                                                       Equities) 
                        ======================  ======================  ======================  ====================== 
  [phone] 
   [e-mail]     [phone]   [phone]     [phone]    [phone] 
                        ======================  ======================  ======================  ====================== 
 
 
 1    Details of t he p erson disc harging managerial responsib 
       ilities / p erson closely associated 
 a)   Name                        Jim Mellon 
     --------------------------  --------------------------------------- 
 2    Reason for notification 
     ------------------------------------------------------------------- 
 a)   Position / status                      Executive Director 
     --------------------------  --------------------------------------- 
 b)   I nitial notification       Initial 
       /Amendment 
     --------------------------  --------------------------------------- 
 3    Details of t he issu er, e mission allow a n ce m a 
       r k et participan t, au ct ion plat for m, au ction 
       eer or auc tion monitor 
     ------------------------------------------------------------------- 
 a)   Name                        Agronomics Limited 
     --------------------------  --------------------------------------- 
 b)   LEI                         21380029M8MPIEQ3TL31 
     --------------------------  --------------------------------------- 
 4    Details of t he t ransact ion (s): section to be re 
       p eated for ( i) e a ch type of instr u m e n t; (ii) 
       each type of transac tion; (iii) each date; and ( iv) 
       each place w h ere transactions have b een condu cted 
     ------------------------------------------------------------------- 
 a)   Description of the          392,000 Ordinary shares of GBP0.000001 
       financial instrument,       each in Agronomics Limited 
       t ype of instrument 
 
       I d e ntification           ISIN IM00B6QH1J21 
       code 
     --------------------------  --------------------------------------- 
      Nature of the transaction   Market purchase of Ordinary Shares 
     --------------------------  --------------------------------------- 
 c)   Price(s) and volumes(s)       Price(s)       Volumes(s) 
                                     11.56 pence    392,000 
                                                   ----------- 
     --------------------------  --------------------------------------- 
 d)   Aggregated information      n/a 
     --------------------------  --------------------------------------- 
 e)   Date of the transaction     4 & 5 May 2023 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    On market 
     --------------------------  --------------------------------------- 
 

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May 09, 2023 09:08 ET (13:08 GMT)