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
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+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
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(END) Dow Jones Newswires
July 30, 2021 07:02 ET (11:02 GMT)
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