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:
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MicroSalt plc
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Via Flagstaff PR
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Rick Guiney, CEO
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Zeus (Nominated Adviser and
Broker)
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+44 (0)20 3829 5000
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David Foreman / James Edis
(Investment Banking)
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Dom King (Corporate Broking), Rupert
Woolfenden (Sales)
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Flagstaff Strategic and Investor
Communications
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+44 (0)20 7129 1474
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Tim Thompson / Alison Allfrey / Anna
Probert
microsalt@flagstaffcomms.com
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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
