Subscription to raise £1.5 million

MicroSalt PLC

09 December 2025

 

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.

9 December 2025

MicroSalt Plc

("MicroSalt" or the "Company")

Subscription to raise £1.5 million

MicroSalt plc (AIM:SALT), a leading provider of full-flavour, natural salt with approximately 50% less sodium, is pleased to announce it has closed a fundraising of £1.5 million (c.US$2.0 million) through a subscription for 3,333,334 new ordinary shares of £0.001625 each in the Company ("Subscription Shares") at a price of £0.45 per Subscription Share (the "Subscription" or "Fundraising").

Key Highlights:

-       £1.5 million (US$2.0 million) before expenses was raised pursuant to the Subscription through participants of the Fundraising ("Subscribers"), at a price of £0.45 per Subscription Share (the "Issue Price"). The Issue Price represents a discount of approximately 13.5% to the Company's last closing share price

-       Funds raised will be utilised as follows:

o  £1.0 million to increase production to support expected orders from leading snack manufacturers;

o  £0.2 million for staffing, including a sales executive focused on international Quick Service Restaurants ("QSR") and Fast Service Restaurants ("FSR") as well as further sales and finance support;

o  £0.1 million for marketing to assist MicroSalt with visibility in industry publications, ingredient based sales events as well as to support other marketing initiatives;

o  £0.1 million for general working capital purposes; and

o  £0.1 million for R&D efforts associated with new product development.

MicroSalt continues to deliver positive trading, with unaudited sales of $1.95 million for the eleven months to 30 November 2025 and therefore will exceed its full-year revenue target of $2.0 million. The volume year to date represents up to 754,298,168 servings of food have been made healthier by the inclusion of Microsalt. The Company has strengthened its relationship with a major global food manufacturer through a proposed four-year Joint Development Agreement and initiated recurring bulk orders. These developments support MicroSalt's growth plans, with projected revenues of in hand volume requirements totalling $7.0 million in 2026 and over $15.0 million in 2027.

The net proceeds of the Subscription will substantially strengthen the Company's balance sheet and, based on management forecasts, are expected to be sufficient to fund the business for the next 12 months.

Retail Offer

In addition to the Subscription, the Company intends to provide all existing shareholders with the opportunity to subscribe for an aggregate of up to 666,666 Ordinary Shares at the Issue Price (the "Retail Offer Shares"), via the Bookbuild Platform ("Bookbuild"), to raise up to approximately £0.3 million (before expenses) (the "Retail Offer").

A further announcement will be made in due course regarding the Retail Offer, detailing its terms. It is expected that the Retail Offer will launch later today and will close at 12:00 p.m. on 12 December 2025.

Details of the participation in the Subscription by Directors

Pursuant to the Subscription, the following Directors have agreed to subscribe for Subscription Shares as set out in the table below:

Subscriber	Role	Subscription Shares subscribed for	Ordinary Shares after Subscription
Judith Batchelar	Chair	22,222	115,246
Dan Emery	Non-Executive Director	22,222	22,222
Gary Urmston	Interim CFO	22,222	115,246

Rick Guiney, CEO of MicroSalt, commented: 

"2025 has been a year of strong, sustained growth across the business as we expand our presence within the fast-growing low sodium market. Our rising order book, advanced technical capabilities in regard to low sodium applications and product offerings continue to validate our strategy. As global sodium reduction legislation accelerates, MicroSalt is well positioned to capitalise on this growing opportunity and build a solid, long-term customer base.

By the end of November 2025, we have delivered 752,289,168 healthier servings of food, over three-quarters of a billion servings, a significant milestone that underscores the reach of our impact. This is complimented by our sales through November reaching $1.9M, with record revenues of $295,000 in November alone, which provides us with confidence and security in exceeding our previous annual guidance of $2m.

We are delighted to see continued support from our existing shareholders, and welcome new shareholders onto our register. This fundraise will enable us to solidify larger production schedules in 2026 to execute our in-hand and anticipated volumes from customers and bring us one step closer to being profitable and cash generative."

Subscription Shares Admission

The Subscription Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares then in issue. Application has been made for the 3,333,334 Subscription Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00 a.m. on 15 December 2025.

For more information, please visit MicroSalt's website, follow on Twitter @MicroSaltPLC or contact:

Enquiries:

MicroSalt plc	[e-mail]
Rick Guiney (CEO)
Zeus (Nominated Adviser and Broker)	[phone]
David Foreman / James Edis (Investment Banking)
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. Year to date through 2025, MicroSalt® has contributed to more than 634M servings made healthier.

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.co or follow on X @microSaltPLC.

IMPORTANT INFORMATION

The information contained in this announcement ("Announcement") does not constitute an offering of securities for sale in the United States of America and no securities have been or will be registered under the United States Securities Act 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction in the United States of America nor will they qualify for distribution under any of the relevant securities laws of Australia, Canada, Japan or the Republic of South Africa. The securities may not be offered or sold in the United States of America. This Announcement is not for distribution directly or indirectly in or into the United States of America, Australia, Canada, Japan or the Republic of South Africa or in any other jurisdiction in which such publication or distribution is unlawful.

This Announcement does not constitute a prospectus or prospectus equivalent document for the purposes of the prospectus rules and has not been, and will not be, approved by, or filed with, the Financial Conduct Authority ("FCA"). It does not constitute or form part of, and should not be construed as, an offer to sell or issue, or a solicitation of any offer of or invitation to buy or subscribe for, any securities, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied on in connection with, or act as an inducement to enter into, any contract or commitment whatsoever. Any failure to comply with these restrictions may constitute a violation of the applicable securities laws in such jurisdiction. This Announcement does not constitute a recommendation regarding any securities.

This Announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition and performance, which involve a number of risks and uncertainties. The Company cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, economic and business conditions, the effects of continued volatility in credit markets, market-related risks such as changes in the price of commodities or changes in interest rates and foreign exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards (IFRS) applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation or regulatory investigations, the success of future explorations, acquisitions and other strategic transactions and the impact of competition. A number of these factors are beyond the Company's control. As a result, the Company's actual future results may differ materially from the plans, goals, and expectations set forth in the Company's forward-looking statements. Any forward-looking statements made in this Announcement by or on behalf of the Company speak only as of the date they are made. Except as required by the FCA, the London Stock Exchange plc or applicable law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this Announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

This Announcement is for information purposes only and shall not constitute an offer to buy, sell, issue, or subscribe for, or the solicitation of an offer to buy, sell, issue, or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification, or exemption, under the securities laws of any such jurisdiction.

This Announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Zeus Capital Limited ("Zeus") or by any of their affiliates or agents as to, or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

Zeus is authorised and regulated by the FCA. Zeus is acting for the Company and for no-one else in connection with the Subscription, and will not be responsible to anyone other than the Company for providing the protections afforded to its customers or for providing advice to any other person in relation to the Subscription or any other matter referred to herein.

The distribution of this Announcement and the offering of the Subscription Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company or Zeus that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Company or Zeus to inform themselves about, and to observe such restrictions.

Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of the Appendix or this Announcement should seek appropriate advice before taking any action.

The Subscription Shares to which this Announcement relates may be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the Subscription Shares should conduct their own due diligence on the Subscription Shares. If you do not understand the contents of this Announcement you should consult an authorised financial adviser.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this Announcement.

All times and dates in this Announcement may be subject to amendment. The Company and Zeus shall notify the Subscribers and any person acting on behalf of the Subscribers of any changes.

Each distributor is responsible for undertaking its own target market assessment in respect of the Subscription Shares and determining appropriate distribution channels.

Solely for the purposes of the product governance requirements contained within the following, each 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: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the Product Governance Requirements) may otherwise have with respect thereto, the Subscription Shares have been subject to a product approval process, which has determined that the Subscription Shares are: (i) compatible with an end target market of: (a) retail investors; (b) investors who meet the criteria of professional clients; and (c) eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, Distributors should note that the price of the Subscription Shares may decline and investors could lose all or part of their investment; the Subscription Shares offer no guaranteed income and no capital protection; and an investment in the Subscription Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to an offer of securities such as the Subscription Shares.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Subscription Shares.

Each distributor is responsible for undertaking its own target market assessment in respect of the Subscription Shares and determining appropriate distribution channels.

 

END