REG - Agronomics Limited - Extension of Warrant Final Exercise Dates

AgronomicsAnnouncement

31/05/2023 07:00

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RNS Number : 0841B  Agronomics Limited  31 May 2023

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 £0.285 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 £0.30 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/ (https://jpjenkins.com/) ) with ISIN IM00BN29W767 and
IM00BP68CG25.

 

Further details are provided in the table below:

 

 Issue Date  Warrants Issued  Warrants Not Yet Exercised  Warrant Strike Price  Current Expiry Date  New Expiry Date
 01/06/2021  297,727,274      297,105,682                 £0.285                01/06/2023           01/06/2024
 08/12/2021  138,368,193*     137,239,447                 £0.300                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 Limited        Cenkos                Peterhouse Capital

 Limited                                          Cornish 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                              +44 (0) 207 628 3396  +44 (0) 207 523 8000             +44 (0) 207 397 8900  +44 (0) 207 469 0936

 info@agronomics.im (mailto:info@agronomics.im)

 

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