Agronomics Regulatory News (ANIC)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) ("MAR").

10 November 2020

Agronomics Limited

("Agronomics" or the "Company")

Closure of Broker Option

Total Voting Rights

Agronomics Limited (AIM:ANIC), a leading listed investor in cellular agriculture with a focus on cultivated meat and alternative proteins, is pleased to announce that, further to its announcement of 26 October 2020, the Broker Option a facility to allow existing shareholders to participate in the Fundraise on the same terms to the Placing, closed at 12 noon GMT yesterday, 9 November 2020.  

The Broker Option has raised £64,148.82, before expenses, through the issue of 1,069,147 Ordinary Shares of £0.000001 each (the "Broker Shares") at a price of 6 pence per share, conditional on Admission, bringing the total amount raised under the Fundraise to £10.06millon, before expenses.

Further details of the Placing, the Broker Option and Admission are given in the Fundraise Announcement and capitalised terms in this announcement have the same meaning as in that Fundraise Announcement unless specified herein.

Application for Admission and Total Voting Rights

Application will be made to the London Stock Exchange for the 1,069,147 Broker Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective and trading will commence at 8.00 a.m. on or around 13 November 2020. Following Admission, the Broker Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, the Company's issued share capital will comprise 499,352,475 Ordinary Shares of £0.000001 each. The Company does not hold any shares in treasury. This figure may, following Admission, be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in their interest, in the Company.

For further information, please contact:

Additional Information on the Company and the Fundraising:

About Agronomics

Agronomics is a leading listed investor in cellular agriculture with a focus on cultivated meat and alternative proteins. The Company has established portfolio of 14 companies at the seed to series B stage in this rapidly advancing sector. It seeks to secure a 5-10% initial ownership in 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 the Cultivated Meat Sector

Investment in the Cultivated Meat market is growing extremely rapidly with c$150 million invested globally between 2016 - 2019 but over $250 million already raised in 2020 alone with further material raises anticipated as funding requirements growing rapidly in the near term to build out manufacturing facilities. Currently it is estimated that there are 60 companies globally within the sector. AT Kearney, a global consultancy, has predicted that Cultivated Meat's market share of meat consumption will be 35% by 2040.

Important Notices

This announcement contains 'forward-looking statements' concerning the Company that are subject to risks and uncertainties. Generally, the words 'will', 'may', 'should', 'continue', 'believes', 'targets', 'plans', 'expects', 'aims', 'intends', 'anticipates' or similar expressions or negatives thereof identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely. The Company cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this announcement. The Company does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.

Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the Company or any other person following the implementation of the Placing or otherwise.

The price of shares and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of the shares. Past performance is no guide to future performance and persons who require advice should consult an independent financial adviser.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, except pursuant to an exemption from registration. No public offering of securities is being made in the United States.