MicroSalt PLC Exercise of Warrants

RNS Number : 9137P

MicroSalt PLC

24 May 2024

 

24 May 2024

MicroSalt Plc

("MicroSalt" or the "Company")

 

Exercise of Warrants

 

MicroSalt plc, (AIM:SALT) a company commercialising a patented technology to produce full-flavour, low-sodium salt for food manufacturers and consumers, announces that following the share price exceeding 129 pence earlier this week, the Company has exercised its right under the warrant instrument dated 26 January 2024 to call the outstanding warrants over 7,213,975 ordinary shares of £0.001625 each ("Ordinary Shares"), which were granted at the time of the Company's admission to trading on AIM. The warrants are exercisable at a price of 47.3 pence per warrant and warrant holders now have until 6 June 2024 to exercise their warrants and deliver the relevant documents and exercise monies to the Company. Further details on the warrants are contained in the Company's Admission Document, available on the Company's website www.microsalt.co.

 

Applications will be made to the London Stock Exchange for admission of any Ordinary Shares allotted and issued following the exercise of warrants.

 

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

 

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

 

 

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

 

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END

 

 

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