9 May 2023
("Agronomics" or the "Company")
Directors' Dealings
Agronomics, the leading listed company focused on the field of cellular agriculture, is pleased to confirm that Jim Mellon, Executive Director, a PDMR, purchased an additional 392,000 ordinary shares in the Company ("Ordinary Shares") at an average price of 11.56 pence per share on 5th May 2023.
Following these transactions, Jim Mellon is interested in a total of 154,553,366 Ordinary Shares, representing 15.56% of the issued capital, of which 139,448,641 are held by Galloway Limited and 12,722,764 are held by Shellbay Investments Limited, companies which are both indirectly wholly owned by Jim Mellon, and 2,381,961 Ordinary Shares are held directly by Mr Mellon.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
About Agronomics
Agronomics is a leading listed alternative proteins company with a focus on cellular agriculture and cultivated meat. The Company has established a portfolio of over 20 companies in this rapidly advancing sector. It seeks to secure minority stakes 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 be fundamental to feeding the world's expanding population. A full list of Agronomics' portfolio companies is available at https://agronomics.im/.
About Cellular Agriculture
Cellular Agriculture is the production of agriculture products directly from cells, as opposed to raising an animal for slaughter or growing crops. This encompasses cell culture to produce cultivated meat and materials, and fermentation processes that harness a combination of molecular biology, synthetic biology, tissue engineering and biotechnology to massively simplify production methods in a sustainable manner.
Over the coming decades, the source of the world's food supply traditionally derived from conventional agriculture is going to change dramatically. We have already witnessed the first wave of this shift with the consumer adoption of plant-based alternative proteins but today, we are on the cusp of an even bigger wave of change. This is being facilitated by advances in cellular agriculture. This change is necessary, given scientists' claims that if we maintain existing animal protein consumption patterns, then we will not meet the Paris Agreement's goal of limiting warming to 1.5℃.
AT Kearney, a global consultancy firm, projects that cultivated meat's market share will reach 35% by 2040. This combined with the Good Food Institute's estimate that a US $1.8 trillion investment will be required in order to produce just 10% of the world's protein using this technology, means that we are on the cusp of a multi-decade flow of capital to build out manufacturing facilities. Funding in the field of cellular agriculture is accelerating, however, still, less than US$ 5 billion has been invested worldwide since the industry's inception in 2016.
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 |
+44 (0) 207 628 3396 |
+44 (0) 207 523 8000 |
+44 (0) 207 397 8900 |
+44 (0) 207 469 0936 |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|
a) |
Name |
Jim Mellon |
2 |
Reason for notification |
|
a) |
Position / status |
Executive Director |
b) |
Initial notification /Amendment |
Initial |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
a) |
Name |
Agronomics Limited |
b) |
LEI |
21380029M8MPIEQ3TL31 |
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|
a) |
Description of the financial instrument, type of instrument Identification code |
392,000 Ordinary shares of £0.000001 each in Agronomics Limited ISIN IM00B6QH1J21 |
Nature of the transaction |
Market purchase of Ordinary Shares |
|
c) |
Price(s) and volumes(s) |
|
Price(s) |
Volumes(s) |
|
11.56 pence |
392,000 |
|
d) |
Aggregated information |
n/a |
e) |
Date of the transaction |
4 & 5 May 2023 |
f) |
Place of the transaction |
On market |
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