REG - MicroSalt PLC - Exercise of Warrants

MicroSaltAnnouncement

24/05/2024 16:30

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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 (http://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)                      +44 (0)20 3829 5000
 David Foreman / James Edis (Investment Banking)
 Dom King (Corporate Broking), Rupert Woolfenden (Sales)

 Flagstaff Strategic and Investor Communications          +44 (0)20 7129 1474
 Tim Thompson / Alison Allfrey / Anna Probert

 microsalt@flagstaffcomms.com

 

 

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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