Portfolio Company Update

RNS Number : 9988P

Tekcapital plc

16 October 2019

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

16 October 2019

Tekcapital Plc

("Tekcapital", the "Company" or "the Group")

Portfolio Company Update:

Salarius Receives Go-Ahead from an Additional Snack Food Company for Full-scale Production Run

Tekcapital Plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, is pleased to announce that portfolio company Salarius ltd. ("Salarius") has reached an agreement with a new customer, a diversified snack food manufacturing company, to include Salarius' patented MicroSalt®in its  production run of its snack food brand. 

Victor Hugo Manzanilla, CEO of Salarius said: "We are very excited with this new customer collaboration.  The snack food market is highly competitive, with snack food manufacturers competing for shelf space with competitor brands at small, mid-size and large leading retailers.  One way these snack food manufacturers are differentiating themselves in such a crowded market is by having a heathier alternative version of their most popular brands, and they are learning they can do this with MicroSalt® without sacrificing the taste of their products."

Dr Clifford Gross, Executive Chairman at Tekcapital, commented: "We are glad to see Salarius' continued market traction as it expands its customer base and believe that MicroSalt® has the potential to empower consumers worldwide to enjoy full-flavour snacks with reduced sodium."

Salarius is exhibiting at SupplySide West (Booth #4982), a major food industry tradeshow being held at the Mandalay Bay in Las Vegas, Nevada from 15-19 October 2019.  SupplySide West is attended by over 17,000 food industry decision makers and buyers looking to fuel their product innovations with the latest and most innovative food ingredients and solutions in the market.

Market Information

The low sodium ingredient market is estimated to reach US$1.76 billion by 2025 with a CAGR 11.7%¹.  The highly competitive global savory snacks market is expected to reach US$108 billion by 2021².

Tekcapital owns 97.5% of the share capital of Salarius ltd.

About Salarius ltd

Salarius, is the developer and manufacturer of a proprietary low sodium salt called MicroSalt®. Salarius is passionate about improving lives with healthier food and is taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. This solution is the only one that delivers real salt flavor, because it is salt. The technology produces salt crystals that are approximately one hundred times smaller than typical table salt, delivering a powerful saltiness as the micro-grains dissolve in the mouth, with approximately 50% less sodium consumption. Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides enhanced flavor consistency. To learn more please visit https://salarius.co/.

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed intellectual properties and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

LEI: 213800GOJTOV19FIFZ85

For further information, please contact:

Tekcapital Plc		Via Yellow Jersey PR
Clifford M. Gross, Ph.D.
finnCap Ltd (Nominated Adviser and Joint Broker)		[phone]
Geoff Nash/ Max Bullen-Smith (Corporate Finance)
Camille Gochez (ECM)
Novum Securities Limited (Joint Broker)		[phone]
Colin Rowbury (Corporate Broking)
Yellow Jersey Limited		[phone]
Sarah Hollins/ Annabel Atkins		[e-mail]

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Salarius that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Salarius' management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Salarius may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Salarius neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

References

¹ https://www.futuremarketinsights.com/reports/sodium-reduction-ingredient-market

² https://zmrindustryjournal.us/8402/savory-snacks-market-size-share-expanding-across-the-globe-by-2016-2024/

 

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