Net Asset Value as at 30 September 2026
20 October 2026
Agronomics Limited
("Agronomics" or the "Company")
Net Asset Value as at 30 September 2026
Agronomics Limited (AIM: ANIC), a leading listed company focused on clean food, announces that its unaudited Net Asset Value per share ("NAV") as at close of business on 30 September 2026 was 12.88 pence per share, a 0.4% decrease from 12.93 pence per share at 30 June 2026. Net assets stood at £140 million, including investments of £138 million and uninvested cash and short-term deposits of £1.2 million.
The Company’s share price of 4.80 pence at 30 September 2026 represented a 62% discount to NAV per share on the same date. The average discount to NAV per share over the previous 12 months was 52%. Under IFRS, the Company’s unquoted investments are generally carried at cost or at the value of the most recent priced funding round.
The Board notes the c. £0.5 million decrease in the Company’s NAV during the quarter, which primarily reflects the following:
- An unrealised FX loss of £0.6 million following the revaluation of investments to the month-end spot rate where the Company holds certain investments in USD, EUR and AUD, due to movements in these currencies against the Company’s reporting currency of Pound Sterling during the quarter;
- An unrealised fair value gain on the investment held in Solar Foods Oy, whose shares are traded on the Nasdaq First North Growth Exchange, of £0.4 million;
- Cash balances reduced by £0.3 million relating to ongoing running costs. This is offset by interest income earned during the quarter, with £9k cash interest received and £43k loan note interest income accrued.
- Cash and deposit balances at 30 June 2026 were £1.2 million (30 June 2026: £1.5 million).
- During the period, no fees were payable or accrued in accordance with the Shellbay Investments Limited Agreement. Shellbay’s fees are only payable when there is an annual increase in the NAV; further details are included in the 2025 annual report.
Investment Portfolio review
During the three-month period to 30 September 2026, no funding activities were completed by portfolio companies.
On 29 September 2026, the Company provided an update on progress being made by Liberation Bioindustries on its first facility in Richmond. Further details on the progress can be found here - https://www.londonstockexchange.com/news-article/ANIC/update-on-liberation-bioindustries/17811203
Jim Mellon, Executive Chair of Agronomics, commented:
“The third quarter witnessed significant turbulence in the Clean Food sector. Several companies in the industry had to restrict spending and scaled down their operations. Fortunately, most companies in our portfolio have sufficient runway to execute on their planned commercialisations. We had to pause construction of the Liberation Bioindustries factory in Richmond while we evaluate the many options that have opened up due to the high demand for quality protein in the United States. Overall, many of our portfolio companies have regulatory approval and have started to generate revenue from industry partners. This signifies a growing shift from pure IP-developing companies to revenue-generating commercial enterprises in our portfolio.”
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Unaudited to 30 September 2026 £ |
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Current Assets |
|
|
|
|
Investments |
138,351,498 |
|
|
Uninvested cash and deposits |
1,241,243 |
|
|
Trade and other receivables |
90,057 |
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Current Liabilities |
|
|
|
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Trade and other creditors |
(164,481) |
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Net Assets |
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139,518,317 |
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Capital and Reserves |
|
|
|
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Share capital |
1,083 |
|
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Share premium |
146,819,830 |
|
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Retained deficit |
(7,302,596) |
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Net assets |
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139,518,317 |
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Shares in Issue |
|
1,083,381,111 |
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Net Asset Value per share |
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12.88 pence |
The quoted investments within the portfolio are valued under IFRS at bid price.
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014, which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.
About Agronomics
Agronomics is a leading London-listed company focusing on investment opportunities within the field of clean food. The Company has established a portfolio of over 20 companies in this rapidly advancing sector. It seeks to invest 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 and improve food security for the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/.
For further information please contact:
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Agronomics Limited |
Beaumont Cornish Limited |
Canaccord Genuity Limited |
Cavendish Capital Markets Limited |
33Seconds Limited
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The Company
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Nomad |
Joint Broker |
Joint Broker |
Public Relations |
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Jim Mellon Denham Eke |
Roland Cornish James Biddle |
Andrew Potts Harry Pardoe
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Giles Balleny Michael Johnson
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Jack Ferris Amber Carr
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+44 (0) 1624 639396 info@agronomics.im |
+44 (0) 207 628 3396 |
+44 (0) 207 523 8000 |
+44 (0) 207 397 8900 |
Nominated Adviser Statement
Beaumont Cornish Limited ("Beaumont Cornish"), is the Company’s Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Beaumont Cornish’s responsibilities as the Company’s Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in the announcement or any matter referred to in it.
Distribution
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