REG - MicroSalt PLC - Exercise Warrants PDMR Dealing Total Voting Rights

MicroSaltAnnouncement

17/06/2024 11:30

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RNS Number : 7178S  MicroSalt PLC  17 June 2024

17 June 2024

MicroSalt Plc

("MicroSalt" or the "Company")

 

Exercise of Warrants, PDMR Dealing 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 476,747 ordinary shares of £0.001625 each ("Ordinary Shares") have been
allotted to certain shareholders, including Judith Batchelar, non-Executive
Chair and a PDMR, to satisfy the exercise of warrants in the Company.

 

Exercise of Warrants

 

Further to the announcement dated 24 May 2024, the Company has exercised its
right under the warrant instrument dated 26 January 2024 to call outstanding
warrants over 7,313,976 Ordinary Shares ("Warrants"), pursuant to which a
further 476,747 Ordinary Shares have been exercised by warrant holders
("Warrant Exercise"). The Warrants are exercisable at a price of 47.3 pence
per Ordinary Share. Further details of the Warrants are contained in the
Company's Admission Document, available on the Company's website
www.microsalt.co (http://www.microsalt.co) .

 

Application has been made to the London Stock Exchange for the admission of
476,747 new Ordinary Shares. It is expected that admission will become
effective on or around 20 June 2024 ("Admission").

 

PDMR Dealing

 

Judith Batchelar has exercised 46,512 Warrants pursuant to the Warrant
Exercise. Following the Warrant Exercise and subject to Admission, Judith
Batchelar will have an interest in 93,024 Ordinary Shares, representing 0.2%
of the Total Voting Rights of the Company and will no longer hold any
warrants. She also has an interest in 804,800 Ordinary Shares under options in
the Company.

 

Total Voting Rights

 

Following Admission, the total number of ordinary shares and voting rights in
the Company will be 47,147,401. 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
(https://microsaltinc.com/home-uk/) 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

 

 Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
 596/2014
 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a.  Name                                                         Judith Batchelar
 2   Reason for notification
 a.  Position/Status                                              Non-Executive Chair
 b.  Initial notification/                                        Initial Notification

     Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         MicroSalt plc
 b.  LEI                                                          213800L7WRHP8CCEEQ48
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a.  Description of the financial instrument, type of instrument  Ordinary Shares of £0.001625 each

Identification Code

                                                                  ISIN: GB00BQB6FF85
 b.  Nature of the transaction                                    Exercise of warrants
 c.  Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                            47.3p     46,512

 d.  Aggregated information                                       N/A

 e.  Date of the transactions                                     12 June 2024
 f.  Place of the transaction                                     Off market

d.

Aggregated information

 

 

N/A

e.

Date of the transactions

12 June 2024

f.

Place of the transaction

Off market

 

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