Agronomics Limited Net Asset Value calculation to 31 March 2020 (4650J)
14 Aprile 2020 - 8:00AM
UK Regulatory
TIDMANIC
RNS Number : 4650J
Agronomics Limited
14 April 2020
14 April 2020
Agronomics Limited
(the "Company")
Net Asset Value calculation to 31 March 2020
Richard Reed, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at
closing on 31 March 2020 was 5.53 pence per share, including
un-invested cash of GBP3,890,306. The portfolio is valued under
IFRS at bid price. The share price of 5.25 pence at the 31 March
2020 close represents a discount of 5% to the NAV. Net Assets stand
at GBP18.3 million, including investments of GBP14.5 million. This
quarter's NAV per share represents an increase of 5% from the
previous quarters NAV of 5.26 pence per share, which included
un-invested cash of GBP4,669,881. No management fee is due to
Shellbay Investments Limited.
During January 2020, the Company completed an additional
fundraise, raising net proceeds of GBP5.2m. Total gross funds
raised during the 2020 financial year now stand at GBP17.6 million.
Existing funds will be deployed in line with the new investment
policy.
On 12 February 2020, the Company invested US$ 3 million into
Foods United, Inc ("Foods United"). This was part of a US$ 100
million fundraise by Foods United, which was founded by Blue
Horizon Corporation, a major early player in the alternative
protein sector with an established portfolio of 39 seed
investments.
The Company completed a further US$ 1 million SAFE investment
into VitroLabs, Inc ("Vitro") on 13 February 2020. Upon conversion
into equity, this will equate to an estimated 6.15% equity interest
in Vitro.
On 27 February 2020, the Company announced that BlueNalu, Inc
completed its US$ 20 million Series A funding round, with
participation from major strategic investors with expertise across
operations, sales, marketing, distribution and supply chain
structuring.
On 10 March 2020, the Company completed a subscription of US$
500,000 in GALY CO ("GALY") in the form of a SAFE. GALY is a
Boston, USA, based pioneering biomaterials technology company,
producing cotton grown in a lab.
On 31 Mar ch 2020, the Company completed a subscription of US$
2,999,996 in Tropic Biosciences UK Limited ("Tropic"). Tropic is a
leading biotechnology company based in Norwich, UK, which is
utilising powerful gene-editing techniques including CRISPR-Cas9
and Tropic's own proprietary GEiGS(TM) platform in developing
high-performing commercial varieties of tropical crops.
Your board continues to evaluate a number of opportunities which
show significant growth prospects".
Unaudited to
31 March 2020 GBP
Fixed Assets
Investments 14,470,478
Current Assets
Uninvested cash 3,890,306
Sundry Debtors 38,055
Current Liabilities
Trade and other creditors (66,242)
------------------
18,332,597
Capital and Reserves
Share Capital 23
Share Premium 19,578,859
Reserves (1,246,285)
------------------
18,332,597
Shares in Issue 331,616,661
Net Asset Value per share 5.53 pence
Portfolio Details
Investments as at 31 March Value (GBP) % of Total Portfolio
2020
AgeX Therapeutics Inc 89,914 0.62%
Regent Pacific Group Limited 83,760 0.58%
Portage Biotech Inc 215,524 1.49%
Other quoted holdings 14,972 0.10%
Other unquoted holdings 14,066,308 97.21%
Total 14,470,478 100.00%
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via a Regulatory Information
Service ('RIS'), this inside information is now considered to be in
the public domain.
For further information, please contact:
Agronomics Limited Beaumont Zeus Capital Peterhouse Britton Financial
Cornish Limited Capital Limited PR
Limited
The Company Nomad Joint Broker Joint Broker Investor Relations
--------------------- ------------------- ----------------- ------------------
Denham Eke Roland Cornish/James Mike Seabrook/ Lucy Williams Tim Blackstone
+44 (0) 1624 639396 Biddle Rupert Woolfenden +44 (0) 207 +44 (0)7957
+44 (0) +44 (0) 161 469 0936 140416
207 628 393 1975
3396
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ENDS
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END
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