TIDMANIC
RNS Number : 9787S
Agronomics Limited
15 March 2023
15 March 2023
Agronomics Limited
("Agronomics" or the "Company")
Directors' interests in shares
On 20 December 2022, the board of Agronomics resolved to issue
14,257,963 new ordinary shares in the capital of the Company (the
"Fee Shares") to Shellbay Investments Limited ("Shellbay"), in
settlement of 50% of the fees due to them under the consultancy
agreement for the year to 30 June 2022.
Further to the announcement of 4 January 2023, awards by
Shellbay to its management and consultants in relation to 6,489,722
shares (the "Award Shares") have vested and relevant shares have
been transferred to Shellbay management, including 312,500 Award
Shares to Mr Denham Eke, a director of the Company .
Shellbay is a company indirectly wholly owned by Mr James
Mellon, a Director of the Company.
Following the transfer of the Award Shares, Shellbay holds, in
aggregate, 12,722,782 Ordinary Shares of the Company, of which
8,903,633 remain subject to options in favour of its management and
advisory consultants.
Following the transfer of the Award Shares, the interest of the
directors in the ordinary shares of the Company (the "Ordinary
Shares") is as set out below:
Director No. of Ordinary Shares % of entire issued
share capital of the
Company
James Mellon* 153,445,363 15.46%
Richard Reed** 6,354,412 0.64%
David Giampaolo 2,434,783 0.25%
Denham Eke 739,390 0.07%
* Following the transfer of the Award Shares, James Mellon will
be interested in a total of 153,445,363 Ordinary Shares . 1,273,960
are held directly by James Mellon , 139,448,621 will be held by
Galloway Limited and 12,722,782 will be held by Shellbay. Galloway
Limited and Shellbay are companies which are both indirectly wholly
owned by James Mellon. Denham Eke is a director of Galloway and
Shellbay.
** Richard Reed is currently interested in 6,354,412 Ordinary
Shares held by Reepa Limited. Reepa Limited is wholly owned by
Richard Reed.
About Agronomics
Agronomics is a leading listed alternative proteins company with
a focus on cellular agriculture and cultivated meat. The Company
has established a portfolio of over 20 companies at the Pre-Seed to
Series C stage in this rapidly advancing sector. It seeks to secure
minority stakes 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, as well as being fundamental to feeding
the world's expanding population. A full list of Agronomics'
portfolio companies is available at https://agronomics.im/ .
About Cellular Agriculture
Cellular Agriculture is the production of agriculture products
directly from cells, as opposed to raising an animal for slaughter,
or growing crops. This encompasses cell culture to produce
cultivated meat and materials, and fermentation processes that
harness a combination of molecular biology, synthetic biology,
tissue engineering and biotechnology to massively simplify
production methods in a sustainable manner.
Over the coming decades, the source of the world's food supply
traditionally derived from conventional agriculture is going to
change dramatically. We have already witnessed the first wave of
this shift with the consumer adoption of plant-based alternative
proteins but today, we are on the cusp of an even bigger wave of
change. This is being facilitated by advances in cellular
agriculture. This change is necessary, given scientists claims that
if we maintain existing animal protein consumption patterns, then
we will not meet the Paris Agreement's goal of limiting warming to
1.5 .
AT Kearney, a global consultancy firm, projects that cultivated
meat's market share will reach 35% by 2040. This combined with the
Good Food Institute's estimate that a US $1.8 trillion investment
will be required in order to produce just 10% of the world's
protein using this technology, means that we are on the cusp of a
multi-decade flow of capital to build out manufacturing facilities.
Funding in the field of cellular agriculture is accelerating,
however still less than US$ 4 billion has been invested worldwide
since the industry's inception in 2016.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
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 VIA A REGULATORY
INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO
BE IN POSSESSION OF INSIDE INFORMATION.
For further information please contact:
Agronomics Beaumont Canaccord Cenkos Peterhouse
Limited Cornish Genuity Securities Capital TB Cardew
Limited Limited Plc Limited
The Company Nomad Joint Joint Joint Broker Public Relations
Broker Broker
---------- -------------- ------------- --------------- ------------------------
Richard Reed Roland Andrew Giles Lucy Williams Ed Orlebar
Denham Eke Cornish Potts Balleny Charles Alistair Walker
James Harry Max Gould Goodfellow
Biddle Rees Michael
Alex Aylen Johnson
(Head
of Equities)
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+44 (0) 20 7930
0777
+44 (0) 1624 +44 (0) +44 (0) +44 (0) +44 (0) +44 (0) 7738 724
639396 207 628 207 523 207 397 207 469 630
info@agronomics.im 3396 8000 8900 0936 agronomics@tbcardew.com
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END
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