REG - Agronomics Limited - Shiok Meats Merges with Umami Bioworks

AgronomicsAnnouncement

13/03/2024 07:00

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RNS Number : 6022G  Agronomics Limited  13 March 2024

13 March 2024

Agronomics Limited

("Agronomics" or the "Company")

Shiok Meats Merges with Umami Bioworks

 

Agronomics (LSE: ANIC), a leading listed company focused on cellular
agriculture, is pleased to announce that portfolio company Shiok Meats Pte.
Ltd. ("Shiok Meats") has been acquired by UMAMI Bioworks Pte. Ltd. ("UMAMI
Bioworks") in a share-for-share transaction.

 

UMAMI Bioworks is a Singapore-based company that uses novel stem cell
technology, machine learning, and automation to produce cultivated seafood.
This strategic combination aims to expedite the journey towards scalable
production of sustainable, cultivated seafood. This merger leverages the
unique strengths of UMAMI Bioworks' innovative production platform and
enabling technologies and Shiok Meats' pioneering research in crustacean cell
cultivation. Based in Singapore, the combined entity anticipates synergies
that will enhance go-to-market efficiencies, expand commercial opportunities
and accelerate regulatory approvals and market introduction of cultivated
seafood.

 

As disclosed in the audited results for the year ending 30 June 2022
(https://polaris.brighterir.com/public/agronomics/news/rns/story/r79m87x) ,
Agronomics' position in Shiok Meats was  fully written down. As a result of
this transaction, Agronomics now holds an equity ownership of 0.71% in UMAMI
Bioworks on a fully diluted basis. Subject to audit, this position will be
carried forward at a book value of £ 0.378 million.

 

About UMAMI Bioworks

UMAMI Bioworks is a Singapore-headquartered company pioneering a standardized,
modular, and automated production platform for cultivating 'not caught'
seafood. It is bringing together novel stem cell biology, machine learning,
and automation to create the operating system for cultivated seafood
production, empowering traditional seafood suppliers to produce a stable,
resilient, local supply of culturally relevant seafood products free from
mercury, antibiotics, microplastics, and ocean pollutants. UMAMI Bioworks is
dedicated to regenerating our oceans and our planet by enabling consumers to
access delicious, affordable, nutritious seafood from culturally important,
prized species while providing a sustainable alternative to the overfishing of
ETP (endangered, threatened, and protected) species. For more information,
please visit: https://www.umamibioworks.com (https://www.umamibioworks.com) .

 

About Shiok Meats

Shiok Meats is a cultivated meat and seafood company - the first of its kind
in Singapore and South-East Asia. "Shiok" in Singapore and Malay slang means
fantastic, delicious, and simply, pleasure. Shiok Meats also owns SEA's first
cultivated red meat company, Gaia Foods. Its mission is to bring delicious,
sustainable, and healthy seafood to the table, using its technology to grow
meat from healthy cells instead of animals. To date, Shiok has conducted
R&D on crustaceans like shrimps, crabs, and lobsters and is the first in
the world to do so using cellular agriculture technology. The company raised
funding of US$ 30 million from notable investors like Aqua-Spark, SEEDS
capital, Toyo Seikan, Real Tech Holdings, Big Idea Ventures, Y Combinator,
Entrepreneur First, AiiM Partners and Henry Soesanto of Monde Nissin, to name
a few. More information is available at www.shiokmeats.com
(http://www.shiokmeats.com) .

 

 

 Agronomics           Beaumont              Canaccord Genuity Limited  Cavendish Capital Markets Limited  Peterhouse Capital    SEC Newgate

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

 Anthony Hughes
 Denham Eke           James Biddle          Harry Pardoe               Michael Johnson                    Charles Goodfellow

                                            Alex Aylen                 Charlie Combe
 +44 (0) 1624 639396  +44 (0) 207 628 3396  +44 (0) 207 523 8000       +44 (0) 207 397 8900               +44 (0) 207 469 0936  agronomics@secnewgate.co.uk

 info@agronomics.im

 

 

 

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