Conversion of CLNs, Capital Access Window & TVR

MicroSalt PLC

10 September 2026

 

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 as imported into the laws of England and Wales by virtue of the European Union (Withdrawal) Act 2018 (as amended) and certain other enacting measures ("UK 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.

10 September 2026

MicroSalt Plc

MicroSalt  ("MicroSalt" or the "Company")

Conversion of Convertible Loan Notes,

Potential Equity Fundraise,

Capital Access Window and

Total Voting Rights

MicroSalt (AIM: SALT), a leading manufacturer of full-flavour natural salt containing approximately 50% less sodium, is pleased to announce that Tekcapital Europe Limited has informed MicroSalt that it has elected to convert in aggregate US$2.4 million of the approximately US$2.9 million of convertible loan notes previously issued to them by MicroSalt. Further details are set out below but this significantly strengthens MicroSalt's balance sheet through the removal of the associated repayment liability, the majority of which had been due in March 2027.

Separately, the Company is currently assessing demand for a potential equity fundraise to raise up to approximately US$1.0 million by way of direct equity subscriptions with the Company, together with a retail offer to qualifying existing shareholders via the Bookbuild platform. Further details will be provided in due course. The potential equity fundraise, should it proceed, will require shareholder approval at a general meeting. Again, further details will be provided, as appropriate, in due course.

Pursuant to the above, and following recent updates to the AIM Rules for Companies, MicroSalt has decided to utilise a Capital Access Window. This is a voluntary pause to the trading of the Company's ordinary shares to make it easier to reach a broader range of investors, including retail investors, during the fundraise. Accordingly, from 7:30 a.m. today, the Company's ordinary shares will enter a Capital Access Window until a further announcement is made with regard to the potential equity fundraise, likely the completion of the direct equity subscription component and launch of the retail offer.  

Conversion of Convertible Loan Notes

As noted above, Tekcapital Europe Limited (the "Holder"), a wholly owned subsidiary of Tekcapital plc, has informed MicroSalt that it has elected to convert in aggregate US$2.4 million of the approximately US$2.9 million of convertible loan notes previously issued to MicroSalt.

Specifically, the Holder holds two convertible loan notes issued by MicroSalt: (i) a convertible loan note dated 1 March 2023 in the principal amount of up to US$2.0 million, of which US$2.0 million remains outstanding (the "March 2023 Note"); and (ii) a convertible loan note dated 7 November 2023 in the principal amount of up to US$2.0 million, of which approximately US$869,000 remains outstanding (the "November 2023 Note", together with the March 2023 Note, the "Notes"). Pursuant to the terms of the Notes, the Holder has elected to convert an aggregate of US$2.4 million of outstanding principal under the Notes, together with all accrued and unpaid interest thereon, into new ordinary shares of MicroSalt (the "Conversion Shares"), comprising: (a) US$2,000,000 of outstanding principal under the March 2023 Note; and (b) US$400,000 of the outstanding principal under the November 2023 Note (the "Conversion").

In accordance with the terms of each Note, the conversion price per new ordinary share is determined at the election of the Holder, which was set at 16p. This represents a 10 per cent. premium to the closing share price of MicroSalt on 9 September 2026. Accordingly, the number of Conversion Shares to be issued to the Holder shall be 11,077,468. Following the Conversion, the remaining outstanding principal balance is US$0 under the March 2023 Note and US$469,000 under the November 2023 Note, together with any accrued and unpaid interest thereon, shall continue to be governed by and subject to the terms of the Notes.

As at the date of this announcement, Tekcapital plc holds 32,457,535 ordinary shares of MicroSalt. Following the issue of 11,077,468 Conversion Shares, Tekcapital plc will hold 43,535,003 ordinary shares of Microsalt, representing approximately 65% of the enlarged issued share capital of Microsalt.

Admission of the Conversion Shares to trading on AIM is expected to occur the business day following the cessation of the Capital Access Window.

Potential Equity Fundraise

MicroSalt has recently engaged with a small group of potential investors to assess demand for a potential equity fundraise to raise up to approximately US$1.0 million. The fundraise, should it proceed, will likely be structured as direct equity subscriptions with the Company, together with a retail offer to qualifying existing shareholders via the Bookbuild platform. Proceeds will be used for general working capital purposes.

The potential equity fundraise, should it proceed, will require shareholder approval at a general meeting as a result of existing authorities being fully utilised to satisfy the Conversion request. Further details will be provided, as appropriate, in due course.

Total Voting Rights

Following admission of the 11,077,468 Conversion Shares, which rank pari passu with the existing Ordinary Shares, the total number of Ordinary Shares in issue with voting rights in the Company will be 67,194,930 (the "Enlarged Share Capital"). There are no Ordinary Shares held in treasury.

The above figure of 67,194,930 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 change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

MicroSalt plc	Via Gracechurch Group
Rick Guiney, CEO  Gary Urmston, Interim CFO
Zeus (Nominated adviser and broker) David Foreman / Ed Beddows (Investment Banking)	[phone]
Gracechurch Group (Financial PR)	[phone]
Heather Armstrong, Alexis Gore, Rebecca Scott

About MicroSalt

MicroSalt is disrupting the global salt market with its patented, full-flavour, low-sodium salt designed for both food manufacturers and consumers. Using proprietary micron-sized particles, MicroSalt delivers the same salty taste as traditional salt with approximately 50% less sodium, offering a scalable solution to one of the world's most pressing health challenges.

Excess sodium consumption is a leading contributor to cardiovascular disease, the world's number one cause of death. The World Health Organisation has targeted a 30% reduction in global sodium intake by 2025, a shift projected to save seven million lives by 2030. The economic case is equally compelling: in the UK alone, cardiovascular disease costs £19 billion annually, and reducing average daily salt intake by just one gram could save over 4,000 lives and £288 million each year. 

Operational since 2018, MicroSalt has established a defensible IP portfolio, holding a granted US patent and 14 pending applications worldwide. These protections create significant barriers to entry in a market expected to grow exponentially as regulation and consumer demand accelerate.

MicroSalt is ideally positioned for scale and market leadership, with clear pathways into food manufacturing, consumer channels, and ultimately the broader £10+ billion global salt market. MicroSalt is more than a healthier alternative-it is a disruptive, category-defining solution poised to deliver significant commercial and societal impact.

For more information, please visit www.microsaltinc.com or follow on X @microSaltPLC.

 

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