Agronomics Limited, a leading listed company focused on cellular agriculture, has announced the exercise of warrants, resulting in the issuance of new Ordinary Shares. The Company has received gross proceeds of £497.70 from the exercise of 1,659 Ordinary Shares at a subscription price of 30.0p per Share. The new Shares are expected to be admitted to trading on AIM around 16 January 2024 and will rank pari passu with the existing Ordinary Shares.
Following the Admission of the new Shares, Agronomics Limited will have 993,155,529 ordinary shares with voting rights and admitted to trading on AIM. This figure will be used by shareholders to determine if they are required to notify their interest in the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Agronomics Limited focuses on investment opportunities within the field of cellular agriculture and has established a portfolio of over 20 companies in this rapidly advancing sector. The Company seeks to invest in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials historically derived from animals. These technologies aim to improve sustainability, address human health, animal welfare, and environmental damage, ultimately improving food security for the world's expanding population.
Cellular Agriculture, the production of agriculture products directly from cells, is a key focus for Agronomics Limited. This includes cell culture to produce cultivated meat and materials, and fermentation processes that simplify production methods in a sustainable manner. The company believes that the world's food supply, traditionally derived from conventional agriculture, is going to change dramatically over the coming decades, with advances in cellular agriculture playing a significant role in this shift.
Agronomics Limited's strategic focus aligns with the projected market growth of cultivated meat, with AT Kearney estimating a market share of 35% by 2040. The company also highlights the significant investment required to produce a substantial portion of the world's protein using this technology, indicating a multi-decade flow of capital to build out manufacturing facilities.
For further information, interested parties can contact Agronomics Limited or its appointed representatives.