Business
Replacement Warrant Final Exercise Dates Extension
Replacement Warrant Final Exercise Dates Extension.
About this update from Agronomics Limited
[{"type":"text","content":"\n\n01 June 2023\n \nThe following amendments have been made to the Extension of Warrant Final Exercise Dates released by Agronomics Limited on 31 May 2023 at 07:00am under RNS No 0841B.\n \nIn the second paragraph:\n \nThe date at which the unexercised warrants granted on 8 December 2021 were originally due to expire has been corrected from 1 June 2023 to 8 December 2023 and the date that they will now expire has been corrected from 1 June 2024 to 8 December 2024.\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \nAgronomics Limited\n(\"Agronomics\" or the \"Company\")\n \nExtension of Warrant Final Exercise Dates\n \nAgronomics (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.\n \nIn 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 8 December 2023 will now expire on 8 December 2024 with the exercise price of £0.30 as originally granted.\n \nThe 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.\n \nBoth tranches of warrants are traded on J P Jenkins Limited (https://jpjenkins.com/) with ISIN IM00BN29W767 and IM00BP68CG25....