REG - MicroSalt PLC - Response to Share Price Movement

MicroSaltAnnouncement

18/10/2024 07:00

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RNS Number : 6816I  MicroSalt PLC  18 October 2024

 

 

 

 

18 October 2024

 

MicroSalt plc

("MicroSalt®" or the "Company")

 

Response to share price movement

 

MicroSalt plc (AIM: SALT), a leading provider of full-flavour, natural salt
with approximately 50% less sodium, notes the significant increase in its
share price on 17 October 2024 and confirms there is no trading or operational
update, further to the statements made in its maiden interim results
announcement on 27 September 2024, which are repeated below:

 

·    Bulk B2B business - MicroSalt has advanced its negotiations with
major food manufacturers, with volume commitments of approximately 92mT
received in Q3, and further progress expected in Q4 from companies in Mexico,
the UK and the US

 

·    Ingredients Online is a B2B e-commerce marketplace for bulk and
wholesale ingredients. MicroSalt bulk will be sold direct to the customer from
the Ingredients Online warehouses in New Jesey and California by the end of
October

 

·    B2C placement of shakers and SaltMe! low sodium crisps across
approximately 600 new US stores in Q3, with retailers including Winn Dixie,
Fresh Thyme, Sedano, Northwest Grocer, Cub Foods and Central Market stores.
Approximately 1,200 US stores now retail MicroSalt products

 

·    Strong pipeline with significant volume customer prospects at
advanced stages with a range of national and multi-national companies with
scope for MicroSalt to be nominated as a supplier on larger product lines once
established with these key customers.

 

The Company also notes comments made in a recent UK Investor Magazine podcast,
during which the interviewee indicated a hope for "blockbuster B2B and retail
distribution agreements in the coming months."

 

MicroSalt wishes to emphasise these remarks were purely the opinion of the
interviewee. The Company re-confirms the statements it provided in its interim
results announcement and will make further updates as appropriate in due
course.

 

 

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. To learn more
about MicroSalt Inc. and MicroSalt® products, please visit
https://microsalt.co (https://microsalt.co) , follow on X @microSaltPLC or
contact:

 

 MicroSalt plc                                                                                            Via Flagstaff
 Rick Guiney, CEO

 Zeus (Nominated Adviser and                                                         +44 (0)20 3829 5000
 Broker)

 David Foreman / James Edis (Investment Banking)

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

 Flagstaff PR (Financial IR/FPR)                                                                          +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% 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 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.

 

ENDS

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