Response to Share Price Movement

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, follow on X @microSaltPLC or contact:

MicroSalt plc		Via Flagstaff
Rick Guiney, CEO
Zeus (Nominated Adviser and Broker)                                David Foreman / James Edis (Investment Banking) Dom King (Corporate Broking), Rupert Woolfenden (Sales)	[phone]
Flagstaff PR (Financial IR/FPR)		[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% 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

 

END