REG - Agronomics Limited - Net Asset Value as at 30 September 2025

AgronomicsAnnouncement

13/11/2025 07:00

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RNS Number : 3263H  Agronomics Limited  13 November 2025

 

13 November 2025

Agronomics Limited

("Agronomics" or the "Company")

Net Asset Value calculation as at 30 September 2025

Agronomics Limited (AIM:ANIC), a leading listed company in the field of clean
food, announces that its unaudited Net Asset Value per share ("NAV")
calculation as at closing on 30 September 2025 was 14.65 pence per share,
a 1.7% increase from 14.40 pence per share at 30 June 2025. Net Assets
stand at £148 million, including investments of £144 million and
uninvested cash and short-term deposits of £3.4 million.

The share price of 6.26 pence at 30 September 2025 represents a discount of
57% to the NAV per share on the same date. The average discount to NAV per
share over the last 12-month period was 59%. Under IFRS, the Company's
unquoted investments are generally carried at cost or the most recent priced
funding round.

The Board notes the c £2.5 million increase in the Company's NAV during the
quarter which relates primarily to the following:

-     An unrealised FX gain of £2.7 million following revaluation of
investments to month end spot rate, where we hold certain of our investments
in USD, EUR and AUD, due to positive movements in these currencies against the
Company's reporting currency of Pound Sterling in the quarter;

-     Unrealised fair value gains on the investment held in Solar Foods
Oy, with its shares traded on the Nasdaq First North Growth Exchange, of
£0.3m; and

-     Cash balances reduced by £0.5 million relating to ongoing running
costs, and the cash and deposit balances at 30 September 2025 were £3.4
million. This is offset by interest income earned during the quarter, with
£29k cash interest received and £371k loan note interest income accrued.

During the period, no fees were payable or accrued in accordance with the
Shellbay Investments Limited Agreement. Shellbay's fees are solely payable
when there is an annual increase in the NAV; further details are included in
the 2024 annual report.

Investment Portfolio review

During the 3-month period to 30 September 2025, there was no fundraise
activity from the portfolio companies.

The following key milestone were achieved by portfolio companies during the
3-month period:

·    On 24 July 2025, Solar Foods Oyj announced that, in partnership with
Japanese food manufacturer Ajinomoto Co. Inc, it introduced a Solein®-powered
Flowering Ice Cream in connection with the World Aquatics
Championships, Singapore 2025;

·    On 12 September 2025, Clean Food Group Limited reported it received
approval for its CLEAN Oil™ 25 product to be used as a cosmetic ingredient
in the United Kingdom, Europe, and the United States;

·    On 23 September 2025, Onego Bio Limited announced that the U.S. Food
and Drug Administration ("FDA") issued a "no questions" letter regarding the
company's conclusion that its flagship product, marketed as Bioalbumen®, is
Generally Recognized As Safe ("GRAS") under its conditions of use in a wide
range of food and beverage applications; and

·    On 30 September 2025, Clean Food Group Limited announced that it
acquired the assets of Algal Omega 3 Ltd.

Jim Mellon, Executive Chair of Agronomics, commented:

"In the third quarter of the year, the Agronomics portfolio has made further
impressive progress.

We can clearly see an acceleration of commercial traction for our precision
fermentation companies. Onego Bio has received US FDA GRAS, Solar Foods has
partnered with Ajinomoto of Japan, and the Clean Food Group has not only
received approval for their Clean Oil but has also acquired a one million
litre fermentation facility near Liverpool, which we consider a game-changer
for the industry.

These developments clearly indicate that precision fermentation has begun to
scale and is now a real option for food and food ingredient production. We are
looking forward with excitement to see this industry grow rapidly and
commercially over the coming quarters."

 

                                                          Unaudited to 30 September 2025

                                                          £
 Current Assets
                            Investments                   144,422,471
                            Uninvested cash and deposits  3,462,786
                            Trade and other receivables   92,625
 Current Liabilities
                            Trade and other creditors     (147,656)
 Net Assets                                               147,830,226
 Capital and Reserves
                            Share capital                 1,009
                            Share premium                 136,171,078
                            Retained earnings             11,658,139
 Net assets                                               147,830,226
 Shares in Issue                                          1,009,417,295
 Net Asset Value per share                                14.65 pence

 

The quoted investments within the portfolio are valued under IFRS at bid
price.

This announcement contains inside information for the purposes of Article 7 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, this inside information is now considered to
be in the public domain.

About Agronomics

Agronomics is a leading London-listed company focusing on investment
opportunities within the field of clean food. The Company has established a
portfolio of over 20 companies in this rapidly advancing sector. It seeks to
invest 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 and
improve food security for the world's expanding population. A full list of
Agronomics' portfolio companies is available at https://agronomics.im/
(https://agronomics.im/) .

For further information please contact:

 Agronomics           Beaumont              Canaccord Genuity Limited  Cavendish Capital Markets Limited  SEC Newgate

 Limited              Cornish Limited
 The Company          Nomad                 Joint Broker               Joint Broker                       Public Relations
 Jim Mellon           Roland Cornish        Andrew Potts               Giles Balleny                      Bob Huxford

 Anthony Hughes
 Denham Eke           James Biddle          Harry Pardoe               Michael Johnson

                                                                       Charlie Combe
 +44 (0) 1624 639396  +44 (0) 207 628 3396  +44 (0) 207 523 8000       +44 (0) 207 397 8900               agronomics@secnewgate.co.uk

 info@agronomics.im

 

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated
Adviser and is authorised and regulated in the United Kingdom by the Financial
Conduct Authority. Beaumont Cornish's responsibilities as the Company's
Nominated Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM Rules for
Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont
Cornish is not acting for and will not be responsible to any other persons for
providing protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in the
announcement or any matter referred to in it.

 

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