Agronomics Limited Announces Net Asset Value Calculation as at 30 June 2025

Rhea-AI Summary

Agronomics Limited (AGNMF) reported its unaudited Net Asset Value (NAV) as of June 30, 2025, at 14.40 pence per share, representing a 2.8% decrease from March 2025. The company's total Net Assets stood at £145.3 million, including £141.8 million in investments and £3.6 million in cash.

The quarter saw a £4.1 million decline in NAV, primarily due to unrealized FX losses of £4.2 million from currency fluctuations. Despite this, portfolio companies achieved significant milestones, including BlueNalu's expanded partnership with Nomad Foods, Liberation Bioindustries's strategic partnership with NEOM, and Meatable's collaboration with TruMeat for cultivated meat commercialization.

Positive

• Strategic partnerships secured with major food manufacturers across portfolio companies
• Portfolio companies showing commercial progress in sustainable food technologies
• £388,000 total interest income earned during the quarter
• No management fees payable to Shellbay due to NAV decrease

Negative

• NAV decreased by 2.8% to 14.40 pence per share
• £4.2 million unrealized FX loss from currency fluctuations
• 51% trading discount to NAV as of June 30, 2025
• Cash balance reduced by £0.2 million due to ongoing costs

DOUGLAS, ISLE OF MAN / ACCESS Newswire / July 18, 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 30 June 2025 was 14.40 pence per share, a 2.8% decrease from 14.81 pence per share as at 31 March 2025. Net Assets stand at £145.3 million, including investments of £141.8 million and uninvested cash and short-term deposits of £3.6 million.

The share price of 7.05 pence as at 30 June 2025 represents a discount of 51% to the NAV per share on the same date. The average discount to NAV per share over the last 12-month period was 64%. Under IFRS, the Company's unquoted investments are generally carried at cost or the most recent priced funding round.

The Board notes the c £4.1 million decline in the Company's NAV during the quarter, which relates primarily to the following:

- An unrealised FX loss of £4.2 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; and

- Cash balances reduced by £0.2 million relating to ongoing running costs, with cash balances at 30 June 2025 of £3.6 million. This was offset by interest income earned during the quarter, with £23k cash interest and £365k 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 30 June 2025, there was no fundraise activity from the portfolio companies.

The following key milestones were achieved by portfolio companies during the 3-month period:

• On 15 April 2025, Liberation Bioindustries Inc ("Liberation Bioindustries"), formerly Liberation Labs Holdings Inc, reported a strategic partnership with NEOM Investment Fund to help develop a precision-fermentation facility in Saudi Arabia. This partnership follows NEOM's participation in Liberation Bioindustries's US$ 50.5 million fundraise announced on 30 January 2025;

• On 30 April 2025, BlueNalu Inc announced that it expanded its strategic partnership with Nomad Foods Limited, Europe's leading frozen food company, to support the commercialisation of its cell-cultivated seafood products in the UK and across Europe;

• On 6 May 2025, Meatable B.V. announced the company formed a strategic collaboration to advance the global commercialisation of cultivated meat with TruMeat Co., Ltd, which specialises in the contract manufacturing of cultivated meat at commercial scale;

• On 8 May 2025, Liberation Bioindustries announced a manufacturing partnership with Dutch ingredients startup Vivici B.V; and

• On 28 May 2025, Good Dog Food Limited (t/a "Meatly") announced that it has developed an in-house bioreactor to accelerate the scalable production of its cultivated pet food.

Jim Mellon, Executive Chair of Agronomics, commented:

"While the quarter saw a modest decline in NAV, primarily due to foreign exchange movements, the strategic progress across our portfolio has been substantial. Several of our companies secured transformative partnerships with major global food manufacturers. A clear validation of the commercial viability and growing demand for sustainable food technologies.

BlueNalu's expanded collaboration with Nomad Foods, one of Europe's largest frozen food companies, is a major step toward bringing cell-cultivated seafood to market. Meanwhile, Meatable's partnership with TruMeat in Asia and Liberation Bioindustries agreements with NEOM and Vivici further demonstrate the global appetite for scalable, next-generation food solutions.

These are not just milestones-they are significant commercial contracts and collaborations that position our portfolio companies for long-term growth and impact. We are confident in the strength of our portfolio and our role in driving the transition to a more sustainable, resilient global food system."

		Unaudited to 30 June 2025 £
Current Assets
	Investments	141,848,220
	Uninvested cash and deposits	3,580,603
	Trade and other receivables	52,788
Current Liabilities
	Trade and other creditors	(141,740)
Net Assets		145,339,871
Capital and Reserves
	Share capital	1,009
	Share premium	136,171,078
	Retained earnings	9,167,784
Net assets		145,339,871
Shares in Issue		1,009,417,295
Net Asset Value per share		14.40 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 ofUK 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 athttps://agronomics.im/.

For further information please contact:

Agronomics Limited	Beaumont Cornish Limited	Canaccord Genuity Limited	Cavendish Capital Markets Limited	Peterhouse Capital Limited	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 Anthony Hughes
+44 (0) 1624 639396 info@agronomics.im	+44 (0) 207 628 3396	+44 (0) 207 523 8000	+44 (0) 207 397 8900	+44 (0) 207 469 0936	agronomics@secnewgate.co.uk

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) Net Asset Value per share as of June 30, 2025?

Agronomics' NAV was 14.40 pence per share as of June 30, 2025, representing a 2.8% decrease from 14.81 pence in March 2025.

How much are Agronomics' total Net Assets worth as of Q2 2025?

Agronomics' total Net Assets stood at £145.3 million, comprising £141.8 million in investments and £3.6 million in cash and short-term deposits.

What caused the decline in Agronomics' NAV during Q2 2025?

The main factor was an unrealized FX loss of £4.2 million due to negative currency movements against the British Pound, plus £0.2 million reduction in cash from operating costs.

What major partnerships did Agronomics' portfolio companies secure in Q2 2025?

Key partnerships included BlueNalu with Nomad Foods for cell-cultivated seafood in Europe, Liberation Bioindustries with NEOM for a Saudi Arabia facility, and Meatable with TruMeat for cultivated meat commercialization.

What is the current discount of Agronomics' share price to NAV?

As of June 30, 2025, Agronomics' shares traded at a 51% discount to NAV, with the average discount over the previous 12 months being 64%.