TIDMANIC
RNS Number : 3695E
Agronomics Limited
27 October 2022
27 October 2022
Agronomics Limited
("Agronomics" or the "Company")
Director Dealings
Further to the announcement by the Company on 25 April 2022,
Agronomics Limited (the "Company") has been notified by Shellbay
Investments Limited ("Shellbay") that following expiry of the
second vesting period certain of its management and advisory
consultants ("Option Holders") have elected to exercise the nil
paid options granted by Shellbay in relation to certain shares of
the Company held by Shellbay ("Options"). In aggregate, Option
Holders have exercised Options over 3,133,074 shares, and the
transfer of these shares to relevant Option Holders shall occur
with immediate effect. Included in these figures, Mr Denham Eke, a
director of the Company, has exercised Options over 213,445 shares
held by Shellbay.
Shellbay is a company indirectly wholly owned by Mr James
Mellon, a Director of the Company. Mr Denham Eke is also a director
of Shellbay.
Following the exercise of Options, Shellbay holds, in aggregate,
12,097,782 Ordinary Shares of the Company, of which 8,278,633
shares remain subject to the Options.
Following the exercise of Options, the interests of the
Directors in Ordinary Shares is as set out below:
No. of Ordinary Shares % of current issued Ordinary Shares
Jim Mellon* 145,677,122 14.90%
----------------------- -----------------------------------
Richard Reed** 6,354,412 0.65%
----------------------- -----------------------------------
David Giampaolo 2,434,783 0.25%
----------------------- -----------------------------------
Denham Eke 426,890 0.04%
----------------------- -----------------------------------
*Jim Mellon is currently interested in a total of 145,677,122
Ordinary Shares, of which 132,305,380 are held by Galloway Limited
and 12,097,782 are held by Shellbay, companies which are both
indirectly wholly owned by Jim Mellon, and 1,273,960 Ordinary
Shares are held directly by Mr Mellon. Denham Eke is a director of
Galloway Limited and Shellbay Investments Limited.
** Richard Reed is currently interested in 6,354,412 Ordinary
Shares held by Reepa Limited. Reepa Limited is wholly owned by
Richard Reed.
In addition, it is noted for information only that to satisfy
current and future tax liabilities relating to the exercise of
Options, an advisory company owned by Mr Anthony Chow, a consultant
indirectly engaged by Shellbay, sold 3,124,540 Ordinary Shares at a
price of 14 pence per share. Accordingly, Mr Chow retains 3,221,752
Ordinary Shares and 6,250,902 Options.
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 21 companies at the Pre-Seed to
Series C 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 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$ 2 billion has been invested worldwide
since the industry's inception in 2016.
Contacts
For further information please contact:
Agronomics Beaumont Canaccord Cenkos Peterhouse TB Cardew
Limited Cornish Genuity Limited Securities Capital
Limited Plc Limited
The Company Nomad Joint Broker Joint Broker Joint Broker Public Relations
---------- ------------------- ------------------ --------------- ------------------------
Richard Reed Roland Andrew Potts Giles Balleny Lucy Williams Ed Orlebar
Denham Eke Cornish Harry Rees Max Gould Charles Joe McGregor
James Alex Aylen Michael Johnson Goodfellow
Biddle (Head of Equities)
---------- ------------------- ------------------ --------------- ------------------------
+44 (0) 20 7930
0777
+44 (0) 1624 +44 (0) +44 (0) +44 (0) 7738 724
639396 207 628 +44 (0) 207 +44 (0) 207 207 469 630
info@agronomics.im 3396 523 8000 397 8900 0936 agronomics@tbcardew.com
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END
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