Agronomics Limited Announces Net Asset Value Calculation as at 31 March 2025
Agronomics Limited (AGNMF) reported its unaudited Net Asset Value (NAV) as of March 31, 2025, at 14.81 pence per share, representing a 0.80% decrease from December 2024. The company's Net Assets stand at £149 million, including £146 million in investments and £4 million in cash. The current share price of 7.15 pence represents a 52% discount to NAV.
Key portfolio developments include: Liberation Labs securing a $50.5M convertible note raise, Formo Bio obtaining a €35M EIB loan, and Solar Foods receiving €10M in government funding. Notable milestone: Good Dog Food (Meatly) became the first company to sell cultivated meat for pet food in Europe. The quarter saw a £1.2M NAV decline, mainly due to FX losses of £2.5M, partially offset by a £1.3M value increase in Solar Foods holding.
Agronomics Limited (AGNMF) ha comunicato il suo Valore Patrimoniale Netto (NAV) non revisionato al 31 marzo 2025, pari a 14,81 pence per azione, con una diminuzione dello 0,80% rispetto a dicembre 2024. Gli Attivi Netti della società ammontano a 149 milioni di sterline, comprendendo 146 milioni di sterline in investimenti e 4 milioni di sterline in liquidità. Il prezzo attuale delle azioni, 7,15 pence, rappresenta uno sconto del 52% rispetto al NAV.
Tra gli sviluppi chiave del portafoglio si segnalano: Liberation Labs che ha ottenuto un finanziamento convertibile da 50,5 milioni di dollari, Formo Bio che ha ricevuto un prestito di 35 milioni di euro dalla Banca Europea per gli Investimenti (BEI) e Solar Foods che ha ottenuto 10 milioni di euro di finanziamenti pubblici. Traguardo importante: Good Dog Food (Meatly) è diventata la prima azienda in Europa a vendere carne coltivata per alimenti per animali domestici. Nel trimestre si è registrata una diminuzione del NAV di 1,2 milioni di sterline, principalmente dovuta a perdite da cambio di 2,5 milioni di sterline, parzialmente compensate da un aumento di valore di 1,3 milioni di sterline nella partecipazione in Solar Foods.
Agronomics Limited (AGNMF) informó su Valor Neto de los Activos (NAV) no auditado al 31 de marzo de 2025, de 14,81 peniques por acción, lo que representa una disminución del 0,80% respecto a diciembre de 2024. Los Activos Netos de la empresa ascienden a 149 millones de libras, incluyendo 146 millones en inversiones y 4 millones en efectivo. El precio actual de la acción, 7,15 peniques, representa un descuento del 52% respecto al NAV.
Entre los desarrollos clave del portafolio destacan: Liberation Labs que aseguró una financiación convertible de 50,5 millones de dólares, Formo Bio que obtuvo un préstamo de 35 millones de euros del Banco Europeo de Inversiones (BEI) y Solar Foods que recibió 10 millones de euros en fondos gubernamentales. Hito notable: Good Dog Food (Meatly) se convirtió en la primera empresa en Europa en vender carne cultivada para alimentos para mascotas. El trimestre registró una caída del NAV de 1,2 millones de libras, principalmente debido a pérdidas por tipo de cambio de 2,5 millones de libras, parcialmente compensadas por un aumento de valor de 1,3 millones de libras en la participación de Solar Foods.
Agronomics Limited (AGNMF)는 2025년 3월 31일 기준 미감사 순자산 가치(NAV)를 주당 14.81펜스로 보고했으며, 이는 2024년 12월 대비 0.80% 감소한 수치입니다. 회사의 순자산은 1억 4,900만 파운드로, 이 중 1억 4,600만 파운드는 투자자산, 400만 파운드는 현금으로 구성되어 있습니다. 현재 주가는 7.15펜스로 NAV 대비 52% 할인된 가격입니다.
주요 포트폴리오 개발 사항으로는 Liberation Labs가 5,050만 달러 규모의 전환사채를 확보했고, Formo Bio가 유럽투자은행(EIB)으로부터 3,500만 유로 대출을 받았으며, Solar Foods가 1,000만 유로의 정부 자금을 지원받았습니다. 주목할 만한 성과로는 Good Dog Food(Meatly)가 유럽에서 최초로 배양육을 반려동물 사료로 판매한 회사가 되었습니다. 이번 분기에는 환율 손실 250만 파운드로 인해 순자산 가치가 120만 파운드 감소했으나, Solar Foods 지분 가치가 130만 파운드 증가하며 일부 상쇄되었습니다.
Agronomics Limited (AGNMF) a publié sa Valeur Nette d'Actif (VNA) non auditée au 31 mars 2025, s'élevant à 14,81 pence par action, soit une baisse de 0,80 % par rapport à décembre 2024. Les actifs nets de la société s'élèvent à 149 millions de livres sterling, comprenant 146 millions en investissements et 4 millions en liquidités. Le cours actuel de l'action, à 7,15 pence, représente une décote de 52 % par rapport à la VNA.
Parmi les développements clés du portefeuille figurent : Liberation Labs qui a levé 50,5 millions de dollars via une note convertible, Formo Bio qui a obtenu un prêt de 35 millions d'euros auprès de la Banque Européenne d'Investissement (BEI), et Solar Foods qui a reçu 10 millions d'euros de financement gouvernemental. Fait marquant : Good Dog Food (Meatly) est devenue la première entreprise en Europe à vendre de la viande cultivée pour l'alimentation animale. Le trimestre a enregistré une baisse de la VNA de 1,2 million de livres, principalement due à des pertes de change de 2,5 millions de livres, partiellement compensées par une augmentation de valeur de 1,3 million de livres dans la participation Solar Foods.
Agronomics Limited (AGNMF) meldete seinen ungeprüften Nettoinventarwert (NAV) zum 31. März 2025 mit 14,81 Pence pro Aktie, was einem Rückgang von 0,80 % gegenüber Dezember 2024 entspricht. Die Nettovermögenswerte des Unternehmens belaufen sich auf 149 Millionen Pfund, davon 146 Millionen Pfund in Investitionen und 4 Millionen Pfund in liquiden Mitteln. Der aktuelle Aktienkurs von 7,15 Pence entspricht einem Abschlag von 52 % auf den NAV.
Wichtige Entwicklungen im Portfolio umfassen: Liberation Labs sicherte sich eine Wandelanleihe in Höhe von 50,5 Millionen US-Dollar, Formo Bio erhielt ein Darlehen der Europäischen Investitionsbank (EIB) über 35 Millionen Euro, und Solar Foods erhielt 10 Millionen Euro an staatlicher Förderung. Ein bemerkenswerter Meilenstein: Good Dog Food (Meatly) wurde das erste Unternehmen in Europa, das kultiviertes Fleisch für Tiernahrung verkauft. Im Quartal gab es einen NAV-Rückgang von 1,2 Millionen Pfund, hauptsächlich aufgrund von Währungsverlusten in Höhe von 2,5 Millionen Pfund, teilweise ausgeglichen durch eine Wertsteigerung von 1,3 Millionen Pfund bei Solar Foods.
- Portfolio company Good Dog Food became first to commercialize cultivated meat for pet food in Europe
- Multiple successful fundraising events: Liberation Labs ($50.5M), Formo Bio (€35M), Solar Foods (€10M)
- £1.3M increase in Solar Foods holding value
- Portfolio companies advancing toward regulatory approvals (All G Foods, Onego, BlueNalu, Meatable)
- Strategic partnership expansion between BlueNalu and Nomad Foods for European market entry
- 0.80% decrease in NAV from December 2024
- £2.5M unrealized FX loss due to currency movements against GBP
- 52% trading discount to NAV, with 12-month average discount of 64%
- Cash balance reduction of £0.4M due to ongoing running costs
DOUGLAS, ISLE OF MAN / ACCESS Newswire / May 12, 2025 / Agronomics Limited (AIM:ANIC), a leading listed company in the field of clean food, announces that its unaudited Net Asset Value per share("NAV") calculation as at closing on 31 March 2025 was 14.81 pence per share, a
The share price of 7.15 pence at 31 March 2025 represents a discount of
The Board notes the c
An increase of
£1.3 million in the value of the Company's holding in Solar Foods Oy ("Solar Foods") which is listed on Nasdaq First North Growth Market Finland;An unrealised FX loss of
£2.5 million following revaluation of investments to month end spot rate where we hold certain of our investments in USD, EUR and AUD, due to negative movements in these currencies against the Company's reporting currency of Pound Sterling in the quarter; andCash balances reduced by
£0.4 million relating to ongoing running costs, and the cash balances at 31 December 2024 were£10.2 million . This is offset by interest income earned during the quarter, with£80,000 cash interest and£281,000 loan note interest income earned.
During the period, no fees were payable or accrued in accordance with the Shellbay Investments Limited Agreement. Shellbay's fees are solely payable when there is an annual increase in the NAV; further details are included in the 2024 annual report.
Investment Portfolio review
During the 3-month period to 31 March 2025, the following portfolio companies completed fund raising activities:
On 21 January 2025, Formo Bio GmbH secured a EUR 35 million loan from the European Investment Bank;
On 30 January 2025, Liberation Labs Holdings Inc closed a convertible loan note fundraise with US
$ 31.5 million in new capital, which brought the total raised under this round to US$ 50.5 million . Agronomics invested a total of US$7.4 million in the convertible note raise; andOn 4 March 2025, Solar Foods Oy was granted EUR 10 million in funding from Business Finland, the Government agency part of the Finnish Ministry of Employment and the Economy.
In addition, the following key milestone was achieved by a portfolio company during the 3-month period:
On 7 February 2025, Good Dog Food t/a Meatly became the first company in the world to supply for sale cultivated meat for pet food, as well as the first to sell cultivated meat in Europe.
Jim Mellon, Executive Chair of Agronomics, commented:
In the first quarter of the year, the Agronomics portfolio has made fantastic commercial and operational progress.
Liberation Labs, off the back of the recent US
More and more of the portfolio continues to make progress toward achieving regulatory approval for the sale of products. The latest being All G Foods, which has received regulatory approval in China, and Onego, BlueNalu and Meatable which are expecting to receive regulatory approval by the end of the year.
The progress we have achieved during a challenging period for much of the clean food industry and a volatile global economic landscape pays testament to the quality of our portfolio and our ability to identify future category leaders. It also demonstrates how food companies are prioritising investment in scalable and sustainable clean food solutions.
We expect this level of progress to continue into the second half of the year, with several further funding rounds set to close and regulatory approvals on the horizon.
Unaudited to 31 March 2025 £ | ||
Current Assets | ||
Investments | 145,718,770 | |
Uninvested cash and deposits | 3,811,502 | |
Trade and other receivables | 89,739 | |
Current Liabilities | ||
Trade and other creditors | (128,950) | |
Net Assets | 149,491,061 | |
Capital and Reserves | ||
Share capital | 1,009 | |
Share premium | 136,171,078 | |
Retained earnings | 13,318,974 | |
Net assets | 149,491,061 | |
Shares in Issue | 1,009,417,295 | |
Net Asset Value per share | 14.81 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 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, 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:
Agronomics | Beaumont | Canaccord Genuity | Cavendish Capital Markets | Peterhouse Capital | SEC Newgate |
The Company | Nomad | Joint Broker | Joint Broker | Joint Broker | Public Relations |
Jim Mellon Denham Eke | Roland Cornish James Biddle | Andrew Potts Harry Pardoe | Giles Balleny Michael Johnson Charlie Combe | Lucy Williams Charles Goodfellow | Bob Huxford |
+44 (0) 1624 639396 | +44 (0) 207 628 3396 | +44 (0) 207 523 8000 | +44 (0) 207 397 8900 | +44 (0) 207 469 0936 |
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Agronomics Limited
View the original press release on ACCESS Newswire
FAQ
What is Agronomics (AGNMF) current Net Asset Value per share as of March 2025?
How much did Liberation Labs raise in their January 2025 fundraising round?
What significant milestone did Good Dog Food achieve in February 2025?
What caused the decline in Agronomics' NAV during Q1 2025?
What is the current discount of AGNMF's share price to its NAV?
