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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
  -0.30 -1.21% 24.50 24.50 25.50 25.00 24.30 24.50 1,173,788 16:35:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 0.0 -0.3 -1.3 - 196

Agronomics Limited Net Asset Value calculation to 31 June 2021

30/07/2021 12:02pm

UK Regulatory (RNS & others)


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TIDMANIC

RNS Number : 0945H

Agronomics Limited

30 July 2021

30 July 2021

Agronomics Limited

("Agronomics" or the "Company")

Net Asset Value calculation to 30 June 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 30 June 2021 was 11.71 pence per share, including un-invested cash of GBP62.4 million. Net Assets stand at GBP93.6 million, including investments of GBP32.5 million. This quarter's NAV per share represents an increase of 88.2% from the previous quarter's NAV of 6.22 pence per share.

The share price of 23.7 pence at the 30 June 2021 close represents a premium of 118.8% 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: -

"We are very grateful for the strong support we have received from new and existing shareholders. Our assets have continued to perform well and 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."

The highlight for the Company was the successful completion of an over-subscribed fundraise during May 2021, raising net proceeds of GBP62.8 million and issuing in total 297,727,274 new ordinary shares.

During April 2021, Solar Foods Oy received a EUR10 million capital loan from the Finnish Climate Fund to build a new demonstration facility in Finland.

During April 2021, Legendairy Foods GmbH completed its rebranding to Formo as a consumer-facing brand, at the forefront of the future of cultivated dairy. Formo is the leading European player in the precision fermentation space, focusing on animal-free dairy products.

On 13 May 2021, the Company completed a secondary purchase of 117 shares in Meatable B.V., increasing its stake to 5.84% on a fully diluted basis.

On 28 May 2021, CellX completed its Seed Funding Round, resulting in the SAFE investment held by the Company converting into 230,681 preferred shares, leading to a 500% uplift in to the $50,000 investment.

On 24 June 2021, Agronomics sold its entire holding in Insilico Medicine, Inc, for total proceeds of $669,775, representing an IRR 54%. Insilico Medicine was a legacy portfolio holding, acquired between June 2017 and July 2018.

Any fees due to Shellbay Limited will be subject to the audited net asset value of the Company for the 30 June 2021 year-end.

 
                                                       Unaudited to 
                                                       30 June 2021 
                                                                GBP 
Fixed Assets 
 Investments                                             32,504,962 
Current Assets 
 Uninvested Cash                                         62,436,497 
 Sundry Debtors                                             428,832 
Current Liabilities 
 Trade and Other Creditors                                (143,336) 
 Future investment commitment                           (1,592,178) 
                                                      ------------- 
                                                         93,634,777 
Capital and Reserves 
 Share Capital                                                  799 
 Share Premium                                           91,458,482 
 Retained Earnings                                        2,175,496 
                                                      ------------- 
                                                         93,634,777 
Shares in Issue                                         799,606,383 
 
Net Asset Value per                                     11.71 pence 
 share 
 

The quoted investments within the portfolio are valued under IFRS at bid price.

Portfolio Details

 
 Investments as at 30 June 2021   Value (GBP)  % of Total Portfolio 
 
 Quoted holdings                      660,206                  2.0% 
 Unquoted holdings                 30,252,578                 93.1% 
 Committed future investment        1,592,178                  4.9% 
 
 Total                             32,504,962                  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       Michael Johnson     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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July 30, 2021 07:02 ET (11:02 GMT)

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