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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Agronomics Limited | LSE:ANIC | London | Ordinary Share | IM00B6QH1J21 | ORD 0.0001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.40 | 5.00% | 8.40 | 8.10 | 8.40 | 8.25 | 8.00 | 8.00 | 1,211,081 | 16:35:19 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 30.88M | 22.37M | 0.0222 | 3.72 | 83.28M |
TIDMANIC
RNS Number : 0820W
Agronomics Limited
21 April 2021
21 April 2021
Agronomics Limited
("Agronomics" or the "Company")
Net Asset Value calculation to 31 March 2021
Agronomics Limited (AIM:ANIC), a leading London listed company in alternative proteins with a focus on cellular agriculture and cultivated meat, announces that its unaudited Net Asset Valuation ("NAV") calculation as at closing on 31 March 2021 was 6.22 pence per share, including un-invested cash of GBP0.5 million. Net Assets stand at GBP31.2 million, including investments of GBP32.4 million. This quarter's NAV per share represents an increase of 11.9% from the previous quarter's NAV of 5.56 pence per share, which included un-invested cash of GBP2.5 million.
The share price of 28.3 pence at the 31 March 2021 close represents a premium of 352.8% to the NAV per share. Under IFRS, the Company's unquoted investments are carried at cost or the most recent priced funding round.
Richard Reed, Chairman of Agronomics, commented: -
"Our assets have continued to perform well, with NAV growth of 11.9% in the quarter. The broader developments across our holdings in the period have further strengthened our position as the largest listed company focused on the field of cellular agriculture."
In January 2021, portfolio company BlueNalu Inc, focused on cell-cultured seafood products, closed a US$ 60 million convertible promissory note ("CPN") debt financing, which the Company participated in during November 2020. Upon conversion of the CPN, Agronomics will hold an equity interest of approximately 5.85%, which would value Agronomics' position at approximately GBP13.4 million.
In February 2021, the Company announced a US$ 0.5 million convertible loan note ("CLN") investment in VitroLabs Inc, an existing portfolio company focused on producing genuine leather hides from cultivating cells, without the need of the slaughter of animals. Upon conversion of the CLN and the existing SAFE investments, the Company will hold an approximate equity interest of 5.25%.
In March 2021, Agronomics completed a further EUR2 million investment in Meatable B.V. ("Meatable") for 1,197 Series A preferred shares, bringing the total amount invested in Meatable to EUR5 million. The Company now holds 4,752 preferred shares, representing a fully diluted equity interest of 5.7%. Following the investment, Agronomics has recognised an unrealised gain of EUR2.95 million, and an IRR of 95%. This Series A round closed in March 2021, with Meatable raising US$ 47 million from leading life science and food investors including Section 32, DSM Venturing, Dr. Rick Klausner and Dr. Jeffrey Leiden, as well as participation from existing investors.
In March 2021, the LIVEKINDLY Collective completed a US$ 335 million Series B raise, inclusive of the US$ 135 million convertible loan note raised and announced in October 2020. Following this, the Company recognised an unrealised gain of US$ 2.55 million and an IRR of 73%. The Series B round was led by The Rise Fund and joined by Rabo Corporate Investments, S2G Ventures as well as other existing and mission-aligned investors.
Unaudited to 31 March 2021 GBP Fixed Assets Investments 32,407,635 Current Assets Uninvested Cash 516,710 Sundry Debtors 22,745 Current Liabilities Trade and Other Creditors (146,150) Future investment commitment (1,592,178) -------------- 31,208,762 Capital and Reserves Share Capital 501 Share Premium 29,003,940 Retained Earnings 2,204,321 -------------- 31,208,762 Shares in Issue 501,879,109 Net Asset Value per 6.22 pence share
The quoted investments within the portfolio are valued under IFRS at bid price.
Portfolio Details
Investments as at 31 December Value (GBP) % of Total Portfolio 2020 Quoted holdings 818,281 2.82% Unquoted holdings 29,997,176 91.27% Committed future investment 1,592,178 5.91% Total 32,407,635 100%
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 TB Cardew Limited Cornish Limited Securities Capital 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 Nick Searle Charles Goodfellow Joe McGregor ------------------ --------------- --------------------- ------------------------ +44 (0) 20 7930 0777 +44 (0) 1624 +44 (0) 7738 724 639396 +44 (0) 207 +44 (0) 207 +44 (0) 207 630 info@agronomics.im 628 3396 397 8900 469 0936 agronomics@tbcardew.com ------------------ --------------- --------------------- ------------------------
ENDS
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END
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(END) Dow Jones Newswires
April 21, 2021 02:00 ET (06:00 GMT)
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