10th Jun 2019 09:08
LONDON (Alliance News) - Agronomics Ltd on Monday said it intends to raise GBP4.5 million via an equity issue to fund investment opportunities within the alternative food sector, in line with the company's new investment policy.
Agronomics, which was formerly called Port Erin Biopharma Investments Ltd, expects to issue new new ordinary shares at 5 pence per share. Shares in Agronomics were trading 24% higher on Monday morning at 6.82p each.
Agronomics said it expects Non-Executive Director Jim Mellon to participate in the equity fundraise to maintain his existing shareholding in the company of 29%. It also expects Non-Executive Chair Richard Reed and Non-Executive Director David Giampaolo to participate in the fundraise.
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