Agronomics Limited Extension of Warrant Final Exercise Dates (0841B)

TIDMANIC

RNS Number : 0841B

Agronomics Limited

31 May 2023

Agronomics Limited

("Agronomics" or the "Company")

Extension of Warrant Final Exercise Dates

Agronomics (LSE: ANIC), the leading listed company focused on the field of cellular agriculture, announces that the Company has agreed an extension of 12 months for the final exercise date of those unexercised warrants granted on 1 June 2021, issued in relation to the equity fundraising announced on 11 May 2021, which were due to expire on 1 June 2023, will now expire on 1 June 2024 with the exercise price of GBP0.285 as originally granted.

In addition, the Company has agreed an extension of 12 months for the final exercise date of those unexercised warrants granted on 8 December 2021, issued in relation to the equity fundraising announced on 1 December 2021, which were due to expire on 1 June 2023 will now expire on 1 June 2024 with the exercise price of GBP0.30 as originally granted.

The initial warrant issues were designed partially as a long-term financing mechanism to allow for future investment in the Company from existing investors to support the Company's existing portfolio, as well as to identify new opportunities, with the aim of creating value for shareholders. Given that the opportunity to exercise the warrants has been affected by the wider market downturn and the share price of the Company is significantly below the exercise price of the relevant warrants, and in some cases the timing of further investment rounds by existing portfolio companies has also been delayed due to market conditions, the Company believes an extension to be in the best interests of all shareholders.

Both tranches of warrants are traded on J P Jenkins Limited ( https://jpjenkins.com/ ) with ISIN IM00BN29W767 and IM00BP68CG25.

Further details are provided in the table below:

 
            Issue Date                 Warrants                 Warrants                Warrant                Current                New Expiry 
                                        Issued                   Not Yet                 Strike                 Expiry                   Date 
                                                                Exercised                Price                   Date 
            01/06/2021               297,727,274               297,105,682              GBP0.285              01/06/2023              01/06/2024 
                         ------------------------  -----------------------  --------------------  ----------------------  ---------------------- 
            08/12/2021               138,368,193*              137,239,447              GBP0.300              08/12/2023              08/12/2024 
                         ------------------------  -----------------------  --------------------  ----------------------  ----------------------

* 10,000,000 of these warrants are held by Directors

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) 
                        ======================  ======================  ======================  ====================== 
  +44 (0) 1624 639396 
   info@agronomics.im     +44 (0) 207 628 3396   +44 (0) 207 523 8000     +44 (0) 207 397 8900    +44 (0) 207 469 0936 
                        ======================  ======================  ======================  ======================

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May 31, 2023 02:00 ET (06:00 GMT)

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