Agronomics Limited (ANIC)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

8.80p
   
  • Change Today:
      0.15p
  • 52 Week High: 14.00p
  • 52 Week Low: 8.50p
  • Currency: UK Pounds
  • Shares Issued: 1,009.41m
  • Volume: 889,938
  • Market Cap: £88.83m
  • RiskGrade: 475

Agronomics puts another $1m into lab leather firm VitroLabs

By Josh White

Date: Thursday 13 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Agronomics announced a further subscription of $1m (?0.77m) in the form of a 'simple agreement for future equity' (SAFE) in VitroLabs on Thursday.
The AIM-traded firm said it would be paid using cash from its own resources.

It said the subscription would increase its existing potential equity position of 3.79% to 6.15%, subject to converting at the valuation cap of $25m at the time of VitroLabs' Series A funding round.

The company completed its first subscription of $1.5m into Vitolabs - the lab-grown leather company based in San Jose, California - on 17 October.

It said the subscription was being made on the same terms as the original investment.

"We continue to be impressed by the strong developments VitroLabs is making as the only company in the world to be using this technology to create real leather, without the requirements of raising animals and the issues surrounding animal welfare, sustainability and efficiency," said Agronomics chairman Richard Reed.

"We are excited for the next 12 months where we expect to see VitroLabs launch their first leather goods to the market."

Ingvar Helgason, founder and chief executive officer of VitroLabs, added that his company was "excited" to continue working with the Agronomics team, whose partnership he described as "invaluable" as it continued developing its technology and platform.

"There is a huge need for a source of real, sustainable leather and we're glad to have Agronomics' continued support as we solve this huge problem."

At 1056 GMT, shares in Agronomics were down 0.49% at 7.59p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ANIC Market Data

Currency UK Pounds
Share Price 8.80p
Change Today 0.15p
% Change 1.73 %
52 Week High 14.00p
52 Week Low 8.50p
Volume 889,938
Shares Issued 1,009.41m
Market Cap £88.83m
RiskGrade 475

ANIC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
62.30% above the market average62.30% above the market average62.30% above the market average62.30% above the market average62.30% above the market average
70.37% above the sector average70.37% above the sector average70.37% above the sector average70.37% above the sector average70.37% above the sector average
Price Trend
54.86% below the market average54.86% below the market average54.86% below the market average54.86% below the market average54.86% below the market average
36.84% above the sector average36.84% above the sector average36.84% above the sector average36.84% above the sector average36.84% above the sector average
Income Not Available
Growth
87.81% above the market average87.81% above the market average87.81% above the market average87.81% above the market average87.81% above the market average
89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average

ANIC Dividends

No dividends found

Trades for 28-Mar-2024

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16:35 28,990 @ 8.80p
16:35 8,854 @ 8.80p
16:35 2,729 @ 8.80p
16:35 17,271 @ 8.80p
16:35 136 @ 8.80p

ANIC Key Personnel

Finance Director Denham Hervey Newall Eke

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