MicroSalt PLC Exercise of Stock Options and Total Voting Rights

RNS Number : 9217V

MicroSalt PLC

05 February 2025

 

 

 

 

5 February 2025

 

MicroSalt plc

("MicroSalt®" or the "Company")

Exercise of Stock Options and Total Voting Rights

 

MicroSalt plc (AIM: SALT), a leading provider of full-flavour natural salt with approximately 50% less sodium, announces that 165,591 ordinary shares of £0.001625 each in the capital of the Company ("Ordinary Shares") ("Option Shares") have been allotted to a shareholder to satisfy the exercise of options over Ordinary Shares.

 

Options over an aggregate of 400,000 Ordinary Shares were exercised on a cashless basis under an option agreement entered into in September 2023. Due to the cashless basis of the exercise a total of 165,591 Option Shares were allotted and issued. Pursuant to the terms of the option agreement, the exercise price of each Option Share was US$0.545.

 

Application has been made to the London Stock Exchange for admission of the Option Shares to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 7 February 2025.

 

Following the issue of the Option Shares, which on Admission will rank pari passu with the existing Ordinary Shares, the total number of Ordinary Shares in issue with voting rights in the Company will be 51,820,276. There are no Ordinary Shares held in treasury.

 

The above figure of 51,820,276 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

About MicroSalt plc

 

MicroSalt® is dedicated to innovating food technology solutions that enable people to live longer, healthier, and happier lives. Its patented low-sodium salt delivers natural salt with approximately 50% less sodium and may be used by both consumers and food manufacturers to decrease the amount of sodium in their food. SaltMe! chips are produced using MicroSalt®, a patented innovative salt technology which is 100% natural, non-GMO, gluten free, and Kosher certified, that does not contain any potassium chloride.

 

For more information, please visit www.microsaltinc.co, follow on X @microSaltPLC or contact:

 

MicroSalt plc	Via Flagstaff PR
Rick Guiney, CEO
Flagstaff PR (Financial PR)	[phone]
Tim Thompson / Alison Allfrey / Anna Probert         [e-mail]
Zeus (Nominated Adviser and Broker)                                            David Foreman / James Edis (Investment Banking) Dom King (Corporate Broking), Rupert Woolfenden (Sales)	[phone]

Notes to Editors

 

MicroSalt® produces a patented full-flavour, low-sodium salt for food manufacturers and consumers.

 

MicroSalt is a major potential disruptor in the food market, thanks to its micron-sized particles which deliver the same sense of saltiness to a wide range of foods but with approximately 50% less sodium. Excess sodium consumption is a significant contributor to cardiovascular disease and MicroSalt's solution meets the rising demand for healthier alternatives to traditional salt. The WHO has set a target for reducing global sodium intake by 30% by 2025, which it estimates will save 7 million lives by 2030.

 

Each year, cardiovascular disease costs the UK £19 billion - if the average salt intake was reduced by one gram per day, it has been estimated that 4,147 lives and £288 million would be saved each year in the UK. As a nation, the UK consumes 183 million kilograms of salt each year, and 70% of the typical person's sodium intake is hidden in processed foods.

 

Operational since 2018, MicroSalt owns a patent-protected technology which we believe helps create high barriers to entry within the reduced-sodium salt market.

 

The Directors believe that MicroSalt is well positioned to capture growth in the low sodium market, which is expected to grow exponentially, and that there is also scope to enter the larger salt market.

 

MicroSalt has a three-pronged marketing strategy, targeting large B2B food manufacturers, the B2C market and e-commerce customers. MicroSalt's all natural, low-sodium solution is well positioned to take advantage of the fast-growing market for a healthier alternative to traditional salt.

 

ENDS

 

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