Business Description

Agronomics Limited (“Agronomics” LSE: ANIC - previously Port Erin Biopharma Investments Limited), incorporated on 3 May 2011 under the laws of the Isle of Man for the purposes of investing in the Life Sciences’ sector, specifically in the emerging area of Alternative Food technology..

The Company's strategy is to create value for Shareholders through investing in companies that have the potential to generate substantial revenues through the development of biopharmaceutical drugs.

The Company's non-executive Chairman is Jim Mellon, who has had a successful career in the fund management industry.

The Company intends to co-invest, wherever possible, alongside Jim Mellon in investments that he has identified.

Jim Mellon has actively invested in the Life Science sector since 2009. He has acquired a personal portfolio of investments in the sector. He is becoming well known globally as an investor and is approached frequently about potential opportunities.

Jim Mellon evaluates opportunities in the sector in terms of the size of the potential market a product or drug seeks to address and the stage of clinical trials passed and hence arrives at a risk weighted assessment of future income streams from whichever product or drug is under development. He does, on occasion, seek industry assistance on verifying the prospects for individual drugs when reaching his decision whether to invest personally. Jim Mellon will, where possible and only to the extent he deems necessary, conduct his own due diligence on potential investments. As part of his due diligence process, he will generally but not always meet the management team of any given company before investing.

If Jim Mellon decides to invest personally in any given company he will, in his discretion and if the company in which he is investing permits, inform Agronomics of the general details of his investment.

 

Investing Policy

Following the General Meeting held on 16 April 2019, Agronomics adopted a new investing policy.

The new investing policy states that: -

‘‘The Company will invest in opportunities within the Life Sciences sector, concentrating on, but not being limited to, environmentally friendly alternatives to the traditional production of meat and plant-based nutrition sources (“Clean Food”). The Company will focus on investments that provide scalable and commercially viable opportunities.

The Company will invest in equity and equity related products in both quoted companies, which offer the benefits of liquidity, and in unquoted companies which offer the attraction of additional capital gains upon completion of a successful IPO. The Company may also invest in shares of collective investment schemes with exposure to the Life Science sector and in long-term equity anticipation securities the underlying securities of which will be based on Life Science sector securities and/or indices relating to the Life Science sector. The Fund may invest in Life Science Sector debt. Investments in Life Science sector debt shall not exceed 15 per cent. of the Net Asset Value of the Company.

The Company will be ungeared. The Company will be a passive investor.

The Company aims to deliver capital growth by realising capital gains when it considers that the valuation of individual investments looks to be excessive or, as is often the case in this sector, as a result of trade sales.

Assets and investments will be held by the Company directly or through the individual share custodians of the brokers used by the Company to acquire the shares.

Any material variation to the Investing Policy will require the approval of Shareholders at a general meeting of the Company in accordance with the AIM Rules for Companies.’’