Extension of Warrant Final Exercise Dates

Agronomics Limited

31 May 2023

 

31 May 2023

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 1 June 2023 will now expire on 1 June 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
[phone] [e-mail]	[phone]	[phone]	[phone]	[phone]

 

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