REG - Agronomics Limited - Net Asset Value calculation as at 31 March 2026

AgronomicsAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260518:nRSR5690Ea&default-theme=true

RNS Number : 5690E  Agronomics Limited  18 May 2026

 

18 May 2026

Agronomics Limited

("Agronomics" or the "Company")

Net Asset Value calculation as at 31 March 2026

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 31 March 2026 was 13.12 pence per share, a
4.8% decrease from 13.78 pence per share at 31 December 2025. Net Assets
stand at £139 million, including investments of £138 million and
uninvested cash and short-term deposits of £1.9 million.

The share price of 6.32 pence at 31 March 2026 represents a discount of 52%
to the NAV per share on the same date. The average discount to NAV per share
over the last 12-month period was 50%. Under IFRS, the Company's unquoted
investments are generally carried at cost or the most recent priced funding
round.

The £1.3 million decrease in the Company's NAV during the quarter which
relates primarily to the following:

-     An unrealised FX gain of £2.1 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 losses on the investment held in Solar Foods
Oy, with its shares traded on the Nasdaq First North Growth Exchange, of
£0.12 million; and

-     Cash balances reduced by £0.3 million relating to ongoing running
costs. This is offset by interest income earned during the quarter, with £10k
cash interest received and £35k loan note interest income accrued.

Cash and deposit balances at 31 March 2026 were £1.9 million (31 December
2025: £2.1 million)

During the period, no fees were payable or accrued in accordance with the
Shellbay Investments Limited Agreement. Shellbay's fees are only payable when
there is an annual increase in the NAV; further details are included in the
2025 annual report.

Investment Portfolio review

During the 3-month period to 31 March 2026, two portfolio companies
successfully completed fundraises:

·      15 January 2026 - Agronomics made an additional investment of
AU$3 million (c.£1,468,860) in All G Co Holdings Pty Limited via a Note
Purchase Agreement, as part of a minimum AU$10 million funding round. The
consideration was satisfied in full by the issue of 10,026,375 new Ordinary
Shares of Agronomics at 14.65 pence per share. Capital raised will be used
primarily to scale up commercial production, advance additional regulatory
submissions, strengthen the company's IP portfolio, and expand commercial
activities across Asia and Europe.

·      19 March 2026 - Tropic Biosciences UK Limited closed a US$105
million Series C financing round, co-led by Forbion through its Bioeconomy
Fund and Corteva through its Corteva Catalyst investment platform, with
participation from Just Climate, IQ Capital, ABN AMRO, Invest International,
Temasek, Five Seasons Ventures, Sucden Ventures, Genoa Ventures and Polaris
Partners. The capital will be used to accelerate the global commercial scale
up of Tropic's banana and rice portfolios, advance the pipeline of their
climate-resilient crops and to expand large-scale plant production.

The following key milestone was achieved by our portfolio company during the
3-month period:

·    25 March 2026 - Clean Food Group announced the commercial launch of
CLEANOil™, its biotechnology-derived ingredient platform for the beauty
industry, ahead of its debut at in-cosmetics Global in Paris. The launch,
achieved through collaboration with beauty manufacturer THG Labs, marks the
progression of CLEANOil™ from concept to commercial reality.

 

Jim Mellon, Executive Chair of Agronomics, commented:

"The first quarter of the year was an encouraging reminder that the clean food
sector continues to produce companies capable of attracting serious, long-term
capital. While much of the wider market remains cautious, the businesses with
credible technology and a clear route to commercialisation are still finding
strong support. During the period, Tropic's US$ 105 million Series C
demonstrated the appetite that exists for proven, scalable platforms
addressing genuine challenges in global food and agriculture, while Clean Food
Group's commercial launch of CLEANOil™ with THG Labs represents a concrete
step from development into the market. These are tangible, operational
developments, and they reinforce our belief that the companies best positioned
to lead are those translating scientific capability into commercial outcomes."

                                                          Unaudited to 31 March 2026

                                                          £
 Current Assets
                            Investments                   136,793,745
                            Uninvested cash and deposits  1,872,462
                            Trade and other receivables   88,627
 Current Liabilities
                            Trade and other creditors     (105,905)
 Net Assets                                               138,648,929
 Capital and Reserves
                            Share capital                 1,056
                            Share premium                 143,113,652
                            Retained earnings             (4,465,779)
 Net assets                                               138,648,929
 Shares in Issue
 Net Asset Value per share                                13.12 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 Limited   Beaumont Cornish Limited  Canaccord Genuity Limited  Cavendish Capital Markets Limited  33Seconds Limited

 The Company          Nomad                     Joint Broker               Joint Broker                       Public Relations

 Jim Mellon           Roland Cornish            Andrew Potts               Giles Balleny                      Jack Ferris

 Denham Eke           James Biddle              Harry Pardoe               Michael Johnson                    Amber Carr

 +44 (0) 1624 639396  +44 (0) 207 628 3396      +44 (0) 207 523 8000       +44 (0) 207 397 8900               agronomics@33seconds.co (mailto:agronomics@33seconds.co)

 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NAVBBGDUGDBDGLU



            Copyright 2019 Regulatory News Service, all rights reserved