Equity Fundraise Closes at £4.5 million

7.00 am 13 June 2019

Agronomics Limited

("Agronomics" or the "Company")

Equity Fundraise Closes at £4.5 million - 30% Oversubscribed

The Board of Agronomics announce that the equity fundraise, notified on 10 June 2019, has closed with confirmed subscriptions of £4.5 million ("Subscription") from new investors and certain directors for 90,000,000 New Ordinary Shares (the "Subscription Shares") at 5 pence per share, being the maximum amount sought. The Subscription was 30% oversubscribed.

The Subscription is conditional on the approval of resolutions to be put to the Company's shareholders at a General Meeting to increase the general authority of the Company to a) issue an aggregate nominal value of £10,000 new Ordinary Shares, and to b) disapply pre-emption rights in relation to the issue. The General Meeting is scheduled to be held on 3 July 2019 and the Notice convening the meeting was despatched to shareholders on 12 June 2019.

Jim Mellon, a Non-Executive Director, subscribed £1.1 million, which will scale back his existing shareholding in the Company from 29.0% to 25.4%. Richard Reed, Non-Executive Chairman and David Giampaolo, a Non-Executive Director, each subscribed £100,000. Such subscriptions are Related Party Transactions under the AIM Rules for Companies and Anderson Whamond, the Independent Non-Executive Director, having consulted with Beaumont Cornish Limited, the Company's nominated adviser, considers the terms of the Subscription to be fair and reasonable insofar as the Company's shareholders are concerned.

The Board further announces the appointment of Peterhouse Capital Limited as joint broker to the Company with immediate effect.

The proceeds of the Subscription will principally be used by the Company for investment opportunities within the alternative food sector as described in the recently approved New Investing Policy of the Company as set out on the website www.agronomics.im.

Application will be made for the Subscription Shares to be admitted to trading on AIM ("Admission"), with Admission of the Subscription Shares expected to occur on or around 11 July 2019.

The Subscription Shares will rank pari passu with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared after the date of their issue.

Following Admission of the Subscription Shares, the Company will have 113,195,558 Ordinary Shares, each in issue with voting rights and admitted to trading on AIM. This figure may then be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Richard Reed, Non-Executive Chairman, commented:

"I am extremely pleased with the success of the fundraise. The level of oversubscription demonstrates strong investor interest in this exciting investment sector and Agronomics is well placed to take advantage of alternative food opportunities which are often not available to the retail market."

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.

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