Extension of Warrant Final Exercise Dates
DOUGLAS, ISLE OF MAN / ACCESSWIRE / May 31 2023 / Agronomics (LSE:ANIC), the leading listed company focused on the field of cellular agriculture, announces that the Company has agreed an extension of 12 months for the final exercise date of those unexercised warrants granted on 1 June 2021, issued in relation to the equity fundraising announced on 11 May 2021, which were due to expire on 1 June 2023, will now expire on 1 June 2024 with the exercise price of £0.285 as originally granted.
In addition, the Company has agreed an extension of 12 months for the final exercise date of those unexercised warrants granted on 8 December 2021, issued in relation to the equity fundraising announced on 1 December 2021, which were due to expire on 1 June 2023 will now expire on 1 June 2024 with the exercise price of £0.30 as originally granted.
The initial warrant issues were designed partially as a long-term financing mechanism to allow for future investment in the Company from existing investors to support the Company's existing portfolio, as well as to identify new opportunities, with the aim of creating value for shareholders. Given that the opportunity to exercise the warrants has been affected by the wider market downturn and the share price of the Company is significantly below the exercise price of the relevant warrants, and in some cases the timing of further investment rounds by existing portfolio companies has also been delayed due to market conditions, the Company believes an extension to be in the best interests of all shareholders.
Both tranches of warrants are traded on J P Jenkins Limited (https://jpjenkins.com/) with ISIN IM00BN29W767 and IM00BP68CG25.
Further details are provided in the table below:
Issue Date | Warrants Issued | Warrants Not Yet Exercised | Warrant Strike Price | Current Expiry Date | New Expiry Date |
01/06/2021 | 297,727,274 | 297,105,682 | £0.285 | 01/06/2023 | 01/06/2024 |
08/12/2021 | 138,368,193* | 137,239,447 | £0.300 | 08/12/2023 | 08/12/2024 |
* 10,000,000 of these warrants are held by Directors
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 |
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SOURCE: Agronomics Limited