Agronomics Ltd on Friday announced a £3.0 million share buyback programme, in order to give its share price a boost.

Agronomics is an Isle of Man-based venture capital firm, with investments in the cellular agriculture field.

The buyback will begin on October 2 and will last up to six months.

Agronomics said the price of its shares are currently ‘significantly’ below the last reported net asset value per share of 15.8 pence at June 30.

Shares in the company were up 3.0% to 10.09 pence each in London on Friday afternoon.

Agronomics believes that the buyback will help reduce this discount.

The company noted that it intends to cancel any repurchased shares under the programme.

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