Subscription to raise £1.5 million
MicroSalt Plc has successfully closed a fundraising of £1.5 million through a subscription for 3,333,334 new ordinary shares at £0.45 per share, a discount of approximately 13.5% to the previous closing price. The raised funds will be allocated to increasing production by £1.0 million, staffing by £0.2 million, marketing by £0.1 million, general working capital by £0.1 million, and R&D by £0.1 million. The company reported unaudited sales of $1.95 million for the eleven months to November 2025, exceeding its full-year target, and has strengthened relationships with a major food manufacturer, projecting revenues of $7.0 million in 2026 and over $15.0 million in 2027. Additionally, MicroSalt intends to offer existing shareholders the opportunity to subscribe for up to £0.3 million in ordinary shares through a Retail Offer.
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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:
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