RNS Number : 2497B
Agronomics Limited
01 June 2023
 

01 June 2023

 

The following amendments have been made to the Extension of Warrant Final Exercise Dates released by Agronomics Limited on 31 May 2023 at 07:00am under RNS No 0841B.

 

In the second paragraph:

 

The date at which the unexercised warrants granted on 8 December 2021 were originally due to expire has been corrected from 1 June 2023 to 8 December 2023 and the date that they will now expire has been corrected from 1 June 2024 to 8 December 2024.

 

All other details remain unchanged.

 

The full amended text is shown below.

 

Agronomics Limited

("Agronomics" or the "Company")

 

Extension of Warrant Final Exercise Dates

 

Agronomics (LSE: ANIC), the leading listed company focused on the field of cellular agriculture, announces that the Company has agreed an extension of 12 months for the final exercise date of those unexercised warrants granted on 1 June 2021, issued in relation to the equity fundraising announced on 11 May 2021, which were due to expire on 1 June 2023, will now expire on 1 June 2024 with the exercise price of £0.285 as originally granted.

 

In addition, the Company has agreed an extension of 12 months for the final exercise date of those unexercised warrants granted on 8 December 2021, issued in relation to the equity fundraising announced on 1 December 2021, which were due to expire on 8 December 2023 will now expire on 8 December 2024 with the exercise price of £0.30 as originally granted.

 

The initial warrant issues were designed partially as a long-term financing mechanism to allow for future investment in the Company from existing investors to support the Company's existing portfolio, as well as to identify new opportunities, with the aim of creating value for shareholders. Given that the opportunity to exercise the warrants has been affected by the wider market downturn and the share price of the Company is significantly below the exercise price of the relevant warrants, and in some cases the timing of further investment rounds by existing portfolio companies has also been delayed due to market conditions, the Company believes an extension to be in the best interests of all shareholders.

 

Both tranches of warrants are traded on J P Jenkins Limited (https://jpjenkins.com/) with ISIN IM00BN29W767 and IM00BP68CG25.

 

Further details are provided in the table below:

 

Issue Date

Warrants Issued

Warrants Not Yet Exercised

Warrant Strike Price

Current Expiry Date

New Expiry Date

01/06/2021

297,727,274

297,105,682

£0.285

01/06/2023

01/06/2024

08/12/2021

138,368,193*

137,239,447

£0.300

08/12/2023

08/12/2024

* 10,000,000 of these warrants are held by Directors

 

For further information please contact:

 Agronomics

Limited

Beaumont

Cornish Limited

Canaccord Genuity Limited

Cenkos

Securities Plc

Peterhouse Capital

Limited

The Company

Nomad

Joint Broker

Joint Broker

Joint Broker

Richard Reed

Denham Eke

Roland Cornish

James Biddle

Andrew Potts

Harry Rees

Alex Aylen (Head of Equities)

Giles Balleny

Michael Johnson

Lucy Williams

Charles Goodfellow

+44 (0) 1624 639396

info@agronomics.im

+44 (0) 207 628 3396

+44 (0) 207 523 8000

+44 (0) 207 397 8900

+44 (0) 207 469 0936

 

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