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SALT Microsalt Plc

93.50
-1.50 (-1.58%)
20 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Microsalt Plc LSE:SALT London Ordinary Share GB00BQB6FF85 ORD GBP0.001625
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50 -1.58% 93.50 90.00 97.00 95.00 93.50 95.00 21,572 15:04:06
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

MicroSalt PLC Exercise of Warrants and Total Voting Rights

21/02/2024 2:53pm

RNS Regulatory News


RNS Number : 9824D
MicroSalt PLC
21 February 2024
 

21 February 2024

MicroSalt Plc

("MicroSalt" or the "Company")

 

Exercise of Warrants and Total Voting Rights

 

MicroSalt plc, a company commercialising a patented technology to produce full-flavour, low-sodium salt for food manufacturers and consumers, announces that certain shareholders have exercised their warrants over 100,001 ordinary shares of £0.001625 each ("Ordinary Shares"), which were granted on admission to AIM. They have been exercised at a price of 47.3p per Ordinary Share, for an aggregate value of £47,300. Further details on these warrants are contained in the Admission Document on the Company's website www.microsalt.co. As at today's date, 7,213,975 warrants remain outstanding.

 

Application has been made to the London Stock Exchange for the admission of 100,001 new Ordinary Shares. It is expected that admission will become effective on or around 22 February 2024.

 

Following admission, the total number of ordinary shares and voting rights in the Company will be 43,217,154. The Company does not hold any shares in treasury.

 

The above figure 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 a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

For further information, please visit MicroSalt's website or contact:

 

MicroSalt plc

Via Flagstaff PR

Rick Guiney, CEO 




Zeus (Nominated Adviser and Broker)

+44 (0)20 3829 5000

David Foreman / James Edis (Investment Banking)


Dom King (Corporate Broking), Rupert Woolfenden (Sales)




Flagstaff PR (Financial PR/IR)   

+44 (0)20 7129 1474

Tim Thompson / Alison Allfrey / Anna Probert


 

 

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 per cent. of the typical person's sodium intake is hidden in processed foods.

 

Operational since 2018, MicroSalt uses a patent-protected technology which helps create high barriers to entry within the reduced-sodium salt market. The group has a US patent and 14 patent applications pending in other jurisdictions globally.

 

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

 

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 rns@lseg.com or visit www.rns.com.

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