Agronomics Limited Announces Net Asset Value Calculation as at 31 March 2025
DOUGLAS, ISLE OF MAN / / 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 0.80% decrease from 14.93 pence per share at 31 December 2024. Net Assets stand at £149 million, including investments of £146 million and uninvested cash and short-term deposits of £4 million.
The share price of 7.15 pence at 31 March 2025 represents a discount of 52% 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 £1.2 million decline in the Company's NAV during the quarter which relates primarily to the following:
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; and
Cash 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 $7.4 million in the convertible note raise; and
On 4 March 2025, Solar Foods Oy was granted EUR 10 million in funding from Business Finland, the Government agency part of the Finnish Ministry of Employment and the Economy.
In addition, the following key milestone was achieved by a portfolio company during the 3-month period:
On 7 February 2025, Good Dog Food t/a Meatly became the first company in the world to supply for sale cultivated meat for pet food, as well as the first to sell cultivated meat in Europe.
Jim Mellon, Executive Chair of Agronomics, commented:
In the first quarter of the year, the Agronomics portfolio has made fantastic commercial and operational progress.
Liberation Labs, off the back of the recent US$ 50.5 million fundraise in January 2025, announced an important manufacturing partnership with Dutch ingredients company Vivici to produce its Vivitein™ ingredient at scale for the US nutritional market. Meanwhile, Blue Nalu has expanded its strategic partnership with Nomad Foods, Europe's leading frozen food company, to support the commercialisation of its cell-cultivated seafood products in the UK and across Europe.
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:
AgronomicsLimited
BeaumontCornish Limited
Canaccord Genuity Limited
Cavendish Capital Markets Limited
Peterhouse CapitalLimited
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 HuxfordAnthony Hughes
+44 (0) 1624 639396info@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
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fast Company
18 minutes ago
- Fast Company
Kering bets on Renault boss Luca de Meo to revive Gucci
Francois-Henri Pinault, the billionaire heir who has headed up the French fashion house Kering Group for the past 20 years, has picked the CEO of automaker Renault to be his successor. The stock market's reaction? That's gucci. Shares of Kering jumped Monday after reports trickled out beginning Sunday that Kering planned to tap Luca de Meo as its new CEO. The stock closed 13.5% higher. The Paris-based company confirmed the news in a statement on Monday, indicating that de Meo will take the helm of the struggling fashion house as it 'enters a new phase of development.' Pinault will stay on as chairman of the board of directors after de Meo takes the helm in September. Pinault said in the statement that he first met de Meo a couple years ago when he 'launched a reflection on the evolution' of the company's governance. 'His experience at the helm of an international listed group, his sharp understanding of brands, and his sense of a strong and respectful corporate culture convinced me that he is the leader I was looking for to bring a new vision and steer this chapter in our Group's history.' The big jump in Kering shares suggests investors are at least hopeful about Kering's future, and Bernstein analysts noted that brand management and marketing are de Meo's forte, as reported by CNBC. Kering shares have fallen more than 72% in the past four years as the company has struggled to convince customers—and investors—of its appeal. Gucci's Struggles Much of Kering's problem rests with Gucci, the group's biggest brand by far, accounting for 44% of revenue in 2024. Gucci has been dragging down the rest of the company: In the first quarter, Gucci's sales fell 25%, while Kering's fell 14%. Gucci has fallen out of fashion among consumers, and particularly in China and the broader Asia-Pacific region. The brand closed two stores in Shanghai earlier this year, while other brands have gained traction among consumers there—and elsewhere. Attempts to breathe some new life into the brand—such as the March announcement of Demna as Gucci's new creative director following a decade-long stint at Balenciaga—didn't assuage investors. And consumers looking for a handbag that's nostalgic to Gucci's golden years might find a more attractive option with an independent collection of handbags by Alexandra Gucci Zarini, an heir to the Gucci family, While de Meo had a successful tenure at Renault—during which time the stock jumped nearly 90%—he faces a difficult road in his new role. 'De Meo has a titanic challenge ahead of him,' Luca Solca, analyst at Bernstein, told The Wall Street Journal.
New York Times
33 minutes ago
- New York Times
Potential Sheffield Wednesday owner calls for 55,000 stadium and says club ‘way bigger than Wrexham'
Sheffield Wednesday should have a 55,000-capacity stadium, one of England's best academies and be 'way bigger than Wrexham', according to the co-leader of a North American group trying to buy the crisis-hit Championship club. The four-time title winners are the second-oldest professional club in English football, and were founding members of the Premier League in 1992, but they dropped out of the top flight in 2000 and have spent the 25 years since yo-yoing between the second and third tiers. Advertisement Thai businessman Dejphon Chansiri bought the South Yorkshire side in 2015 — and initially spent heavily on a push for the Premier League — but that financial support has long since dried up and Wednesday are yet to meet all of their wage bill for May, having also been late with April's payments. Having first said he would sell the club in late 2018, only to place a Premier League-level valuation on the business, Chansiri's price tag is coming down fast and he is in talks with two U.S.-based groups about a sale. One of those parties wants to remain under the radar for the time being but has hired a club broker from the UK to negotiate with Chansiri on its behalf. But the other has chosen to go public with its interest, with Florida-based property investor John Flanagan giving an interview to the local BBC radio station last week and his partner in the venture, Adam Shaw, a Sheffield-born businessman based in the same U.S. state, now speaking exclusively to The Athletic. 'Sheffield Wednesday are nowhere in America. We sell zero shirts and have no commercial presence there — that's got to change,' says Shaw, a lifelong Wednesday fan. 'With the World Cup in the U.S. next year and with the individuals we have in our ownership group, we could easily become Florida's English football team. 'We should and can be way bigger than Wrexham. Ryan Reynolds would give his left leg to have what we already have at Wednesday in terms of our history and fanbase. Let's use that.' Neither Flanagan nor Shaw has wanted to reveal the identities of their investment partners, but the latter says the 16-strong group includes current and former Major League Baseball players, an ex-Premier League star and, if the deal can be done, a well-known celebrity. He is adamant the star power of this group would have the same transformative impact at Wednesday that Wrexham's owners Reynolds and Rob McElhenney have had since their arrival in north Wales. The Hollywood duo paid £2million to buy the club, then in the fifth-tier National League, in 2021 but sold a minority stake in the team, now in the Championship with Wednesday after three straight promotions, earlier this year which valued them at £100m. And now, according to reports, they are looking for new partners at a valuation of £350m. Advertisement While most football finance experts believe that is an unrealistic price for a newly-promoted second-division side with a relatively small stadium, no training ground and no real tradition of developing players, every expert believes McElhenney and Reynolds have a much better chance of attracting investment at that level than Chansiri, as that was his original asking price, too. That number has fallen as Wednesday's recurring annual losses, late payments and English Football League (EFL) sanctions have piled up but Chansiri is still holding out for significantly more than what anyone has put on the table, so far. Shaw, who has been speaking to Chansiri about buying the club for two years, says his group offered $65million (£48m), with a significant chunk of that in performance-related bonus payments, in April. That was flatly rejected, so the group returned the following month with a bid of a guaranteed $75m, only to receive short shrift once more. Chansiri seems to believe Wednesday's history, large stadium and loyal fanbase are worth a premium on top of the usual valuation for Championship clubs, which is about double a side's annual revenue. Wednesday earned just over £26million in the 2023-24 season, their first back in the Championship after two years in League One, which would suggest an enterprise value in the £50m to £55m range. For comparison, American investor Shilen Patel bought second-tier side West Bromwich Albion for £60m last year, while British businessman David Clowes paid £55m to rescue Derby County from bankruptcy in 2022, shortly after their relegation from the same division. Chansiri, of course, is probably thinking more about the £105million that U.S.-based investors Steve Rosen and Helmy Eltoukhy paid for Wednesday's city rivals Sheffield United last Christmas, although United were vying for promotion out of the Championship at the time, have Premier League-level facilities and are still in receipt of parachute payments following their 2024 relegation from the top flight. Advertisement Shaw believes Wednesday could and should be worth more than neighbours United one day, too, but the road back from years of fan unrest, too many managers and not enough investment will require radical thinking. The 47-year-old, who runs a mental-health platform and publishing business called Triggerhub, says his group would immediately upgrade Wednesday's academy and training ground, renovate their near 35,000-capacity Hillsborough stadium and lean into their American contacts to boost commercial revenues. 'We are Sheffield Wednesday, we are a big enough club to create the best academy and training facilities in the UK if we put our minds to it,' he says. 'Let's get Hillsborough fully open and give fans something decent to eat and drink, with service with a smile. We'd also really like to see if we can wrap three of the sides, to create a more modern, bowl effect but we would leave the South Stand (main photo) alone, as we want a mix of old and new.' Shaw would also like the club to 'review and increase the honour' it has shown to the 97 Liverpool fans who died in a crush at the stadium in 1989, the worst disaster in British sporting history. While this may sound a noble idea, it could perhaps be controversial with some Wednesday supporters, as the club has struggled with the legacy of the tragedy for decades. As an expert on mental health, Shaw believes 'one way to overcome something that traumatic is to embrace what happened for all those affected'. He said one possible idea for marking the tragedy in a more public way is to let the families of those who died rename the West Stand, also known as the Leppings Lane End, which is where the crush occurred. Looking further ahead, 'perhaps five years', Shaw's group would like to move Wednesday away to a new, 55,000-capacity ground. Advertisement 'We wouldn't do anything without consulting the fans, but we think the club should have a home where people can park more easily and have up-to-date facilities,' he says. 'If we want to create a culture that ensures we become a sustainable, competitive and successful Premier League side, then we must be proactive. Premier League clubs are all upgrading their stadiums.' He said the group have a site in mind but reiterated that it would not do anything without the fans' support. In the meantime, he wants to cut the cost of tickets for all fans and give away up to 5,000 seats per game to ambulance crews, fire fighters, National Health Service staff, police officers and current and former members of the military. 'I know this is an American tradition, but I believe all Sheffield Wednesday fans would get behind this initiative,' he says. 'It's the very least our great club can do for all those brave first-responders and military personnel who have sacrificed so much for others every single day of their lives.' Among the group's other plans are improving the quality of the club's merchandise and its retail operations, going back to a more traditional version of Wednesday's distinctive owl logo and backing manager Danny Rohl, who is currently in dispute with Chansiri over his return to work this month. Shaw would also like to see a fans' representative join the board. Whether Shaw and his partners — or the other group in takeover talks — will ever get the chance to deliver any of their plans is likely to depend on Chansiri's tolerance for bad news. His most recent failure to pay his staff on time means the club have been in arrears for more than 30 days in the past 12 months, which brings an automatic three-window registration ban. That sanction cannot be published on the EFL website under its current rules but the league is in the process of changing these so that three-window bans can also be listed. Advertisement The EFL has also charged Chansiri personally for breaching regulation 21.2.2, which states that a club owner should not take, or omit to take, any action that would result in breaking the rules. With the main source of the Chansiri fortune, the family's stake in the world's largest tuna producer, Thai Union Group, under pressure from U.S. tariffs and a plummeting share price, pressure is mounting to sell up. Wednesday have not responded to requests for comment.
Forbes
an hour ago
- Forbes
4 Challenges Shaping Risk Management In Banking And How To Tackle Them
Dimitar Dimitrov is the founder and Managing Partner at Accedia, a leading European AI & Custom Software Development Company. Gone are the days when CIOs focused solely on infrastructure. As today's CIO, you're expected to drive innovation and shape the direction of the bank in a tech-driven world. A key part of this shift is rethinking how risks are identified, handled and anticipated. As a leader, you must navigate a tough mix of regulations, security threats and growing customer expectations. While some see this as pressure, it can also be a chance to make bold moves, treating challenges as a driver of growth and digital transformation. This article, which should serve as a strategic guide for CIOs, explores how risk management in banking is evolving through AI, automation and alignment between technology and business objectives, helping you respond to today's demands and prepare for those ahead. Risk is no longer confined to a compliance checklist. These four challenges highlight how the landscape is changing and what you can do about it: Regulatory tolerance in the banking sector has narrowed significantly in recent years. With governments stepping up oversight—think of Consumer Financial Protection Act (CFPA)'s Section 1033, for example, or Basel updates—is more demanding than ever. Regulators are placing greater emphasis on broad principles, fairness, transparency and ethical treatment of customers, rather than on following rules. This implies that even technically compliant systems can come under scrutiny if they enable practices perceived as misleading or biased. The most effective way to keep pace is to embed compliance into technology architecture from the start. That means using platforms where rules can be updated through configurable workflows, not hardcoded logic. Tools that support explainable AI, generate full audit trails automatically and manage user activity logs create an accountable environment. Equally important is reducing manual intervention wherever possible. Automating compliance checks, transaction validations and approval workflows minimizes the risk of human error, a growing liability in environments under heavy scrutiny. The result is faster deployment of digital services, fewer blocked releases due to regulatory review and a more flexible response to policy shifts. As digital banking expands, so does the attack surface, turning every new channel or integration point into a potential vulnerability. The stakes are high: 62% of customers lose trust after a breach, and nearly half stop using the bank altogether. To prevent that, you need to incorporate risk considerations well before a new service or feature is rolled out. The earlier you embed controls like identity verification, access management and behavioral monitoring into digital workflows, the lower the risk of exposure once those systems go live. One such example is Standard Chartered. The bank integrated AI models into their name and transaction screening workflows to detect anomalies in real time. Instead of relying on manual post-event reviews, now they identify threats as they occur. It's a strategic shift that requires aligning technology with risk, meaning choosing vendors and designing workflows that support early threat detection and automated safeguards. Technology is opening the door to smarter, faster ways to navigate risk. Banks now have greater visibility in customer behavior, and paired with scalable AI models, they can leverage those insights for threat prevention. At Accedia, we saw this firsthand in our work with a UK-based bank. To strengthen their cybersecurity strategy and KYC compliance, we integrated an AI-powered identity verification model using computer vision to authenticate documents and facial data in real time. Additionally, we developed an AI-driven fraud detection system, leveraging predictive analytics to identify anomalies in transactional behavior as they happen, resulting in 28% fewer false positives, a two-times faster response to threats and 35% decrease in manual workload for compliance teams. What stood out was how specific improvements uncovered weaknesses in the overall risk approach. To adopt AI-driven risk management for banks effectively, start by reviewing internal processes. Are decisions delayed by outdated tools? Is data siloed? Are risk signals acted on too late? Map the lifecycle of high-risk decisions and target tech initiatives that address bottlenecks while aligning with business goals. A centralized data lake, for instance, can eliminate data fragmentation and support а long-term analytics strategy. Real-time monitoring tools detect threats faster and reduce time-to-market for new services. Focus on actions that improve visibility, streamline workflows and lower reliance on manual work, instead of adopting tools without a clear strategic fit. While technological advances help organizations move faster, they also raise expectations, turning customer behavior into a major source of pressure. Today's customers want instant credit decisions, fast onboarding and personalized services across digital channels. Far from being a background concern, these expectations directly influence how banks engage, compete and grow. According to Accenture, banking institutions with the most loyal and satisfied customers achieve revenue growth nearly 1.7 times faster than their competitors. To meet new standards, banks may need to rethink their entire organization around customer experience. From a risk perspective, this creates two challenges. The first is speed. Customers anticipate instant credit decisions, approvals and onboarding, leaving little room for manual checks or lengthy reviews. The second is complexity. As services become more personalized, the processes behind them involve more data and, respectively, greater scrutiny from regulators. To manage both, understand where in the customer journey risk is introduced. Then implement measures like explainable AI, traceable logic and selective human oversight. This allows you to deliver the responsiveness customers expect while maintaining control where needed. Risk management in banking is no longer about ticking boxes. It's about making informed decisions at the right time, across every layer of the organization. That requires embedding risk thinking into digital workflows, using automation and data where it adds value and building systems that are secure from the ground up. The goal isn't just to adapt to change—but to shape it in a way that supports growth, earns customer trust and builds long-term resilience. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
