Arizona Tribune - Agronomics Limited Announces Director/PDMR Shareholding

The Company announced on 30 December 2025 that BlueNalu had been issued 30,643,003 Ordinary Shares as part of a funding round for BlueNalu. BlueNalu had notified the Company's broker of its intention to sell those Ordinary Shares, subject to the applicable lock-in and orderly market arrangements. Mr Mellon's acquisition avoids those Ordinary Shares being sold in the market and provides immediate working capital to BlueNalu.

Mr Mellon has also been granted a right of first refusal to acquire the remaining 3,152,596 Ordinary Shares held by BlueNalu at a price to be agreed by the parties at the time the right of first refusal is exercised. The right of first refusal expires on 1 October 2026.

To facilitate the acquisition by Mr Mellon, the Company has waived the lock-in and orderly market restrictions imposed on BlueNalu at the time the Ordinary Shares were issued (the "Waiver"). As a condition of Mr Mellon's acquisition, he has agreed to equivalent lock-in and orderly market arrangements with the Company in relation to the Ordinary Shares acquired from BlueNalu. Mr Mellon has confirmed to the Board that he has no current intention to sell any Ordinary Shares. He has also purchased Ordinary Shares in the market during 2026 and has indicated that it remains his intention to continue purchasing additional Ordinary Shares should the current significant discount to the Company's published net asset value continue.

As at close of business on 10 July 2026, the Ordinary Shares traded at a discount of approximately 56 per cent. to the Company's net asset value per share as at 30 June 2026 of 12.93 pence, as published on 10 July 2026.

As a further condition of the Waiver, BlueNalu has agreed that the Company shall be granted the right to appoint a director nominee to the board of BlueNalu; previously, the Company had the right to appoint an observer only. Following completion of Mr Mellon's acquisition, Mr Mellon has been appointed as a director of BlueNalu as the Company's appointed nominee.

Following the investment announced on 30 December 2025, Agronomics holds 2,519,609 preferred shares of BlueNalu with a book value, inclusive of the CPN investment at face value, of approximately US$ 15.54 million. Following the share subscription and the consummation of BlueNalu's convertible promissory note round, Agronomics is expected to hold approximately 12.96 per cent. of BlueNalu's issued shares on a fully diluted basis.

In addition to the acquisition from BlueNalu, brokers acting for Mr Mellon acquired a further 6,050,000 Ordinary Shares between 13 March 2026 and 27 March 2026. These purchases were not previously notified by the Company and are set out below:

Following the acquisitions described above, Mr Mellon'stotal interest in the Company, including interests held by persons closely associated with him, is 199,316,404 Ordinary Shares, representing 18.30 per cent. of the Company's total voting rights held as follows: Jim Mellon directly: 41,347,369, Galloway Limited: 157,944,938 and Shellbay Investments Limited: 24,097.

The notification below, made in accordance with the requirements of UK MAR, provides further detail.

PDMR DEALING NOTIFICATION TEMPLATE
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

Nominated Adviser Statement
Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in the announcement or any matter referred to in it.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: Agronomics Limited

View the original press release on ACCESS Newswire

A.O.Scott--AT