Share Prices & Company Research

Market News

18 Feb 2021 | 15:03

Agronomics puts another EUR 2m into lab-grown meat firm Meatable

(Sharecast News) - Alternative protein and cultivated meat company Agronomics has invested a further €2m (£1.73m) in existing investee company Meatable, it announced on Thursday, for 1,197 preferred shares. The AIM-traded firm said the subscription would be paid using cash from its own resources, and would take Agronomics' total cash investment in Meatable to €5m.

Following the subscription, Agronomics would hold 4,752 preferred shares in Meatable, representing equity ownership on a fully diluted basis of 5.7%.

Subject to audit, Agronomics said it would now carry its position in its accounts at a book value of €7.95m, representing an unrealised gain on cost of €2.95m and an internal rate of return of 95%.

"We are delighted to further support Meatable as one of the leading companies in the field of cultivated meat and a major holding in the Agronomics' portfolio," said chairman Richard Reed.

"We maintain our enthusiasm for Meatable, as they continue to scale-up production, achieve their scientific milestones, and move towards commercialisation."

At 1446 GMT, shares in Agronomics were down 7.04% at 18.78p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 14th May 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.