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 non-executive Chairman is Richard Reed, co-founder of Innocent Drinks, successfully sold to Coca Cola in 2013, and now co-founder of Jam Jar Investments – a private venture capital firm. The board includes Jim Mellon, David Giampaolo, Anderson Whamond and Denham Eke. Please see http://agronomics.im/directors.html for biographical details.

The global demand for protein, be it animal or plant, is growing at a rate that is generally considered to be unsustainable for the natural environment. It is estimated that animal husbandry accounts for 18% of total greenhouse gas emissions globally – more than all forms of transport combined. Beyond this, animal husbandry utilises vast quantities of other scarce resources such as land (directly and via cultivation of crops for animal feed), water and energy and is a major user of antibiotics - while the slaughter of animals (fish included) on an industrial scale is a growing source of ethical concern for many.

 

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"