Result of Subscription
MicroSalt Plc has announced the successful closure of its Subscription, which was significantly over-subscribed and conditionally raised approximately £1.3 million (US$1.7 million) through the issuance of 9,213,858 Subscription Shares at 14 pence per Ordinary Share. The company also expects to raise an additional £140,000 (US$180,000) from a Director Subscription, bringing the total expected gross proceeds to £1.4 million. Each Fundraising Share will include one warrant exercisable for three years at 14 pence. A separate retail offer will allow existing shareholders to subscribe for up to 714,285 Retail Offer Shares, potentially raising up to £100,000. Trading in the Ordinary Shares is expected to resume on 24 September 2026, with admission and dealings in Conversion Shares commencing on 25 September 2026.
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MicroSalt (AIM: SALT), a leading manufacturer of full-flavour natural salt containing approximately 50% less sodium, is pleased to announce that the primary component of the Fundraising, the Subscription (as announced on 16 September 2026), was significantly over-subscribed and has now closed.
The Subscription has conditionally raised gross proceeds of approximately £1.3 million / US$1.7 million (before expenses) through the issuance of 9,213,858 Subscription Shares at 14 pence per Ordinary Share (the “Issue Price”).
On issue, each Fundraising Share (comprising the Subscription Shares, the proposed Director Subscription Shares and Retail Offer Shares) will have one warrant attached (a “Fundraising Warrant”), conditionally entitling the holder to subscribe for one new Ordinary Share in the capital of the Company (a “Warrant Share”). The allotment and issue of the Warrant Shares is conditional upon, among other things, the Company having sufficient shareholder authorities available at the time of exercise of the Fundraising Warrant or obtaining such shareholder approvals if insufficient authorities are available. The Fundraising Warrants will be exercisable for a period of three years following Admission at an exercise price of 14 pence per Warrant Share. The Fundraising Warrants will not be admitted to trading on AIM.
In addition to the Subscription, the Director Subscription is expected to raise approximately £140,000/ US$180,000, resulting in expected total gross proceeds of £1.4 million.
The Company is also providing existing Shareholders who have not participated in the Subscription or the proposed Director Subscription with the opportunity to subscribe for up to 714,285 Retail Offer Shares at the Issue Price, to raise up to £100,000 (before expenses), pursuant to a separate retail offer to be conducted via the Bookbuild Platform. Neither the Subscription nor the Director Subscription is conditional on the Retail Offer proceeding or on any minimum take-up under the Retail Offer. The Retail Offer is expected to open at 8.00 a.m. on 25 September 2026 and close at 5.00 p.m. on 29 September 2026. Further details of the Retail Offer will be set out in a separate announcement to be released shortly after this announcement.
As announced on 10 September 2026, the Ordinary Shares entered a Capital Access Window at 7.30 a.m. on that date. The Capital Access Window will cease at 2.00 p.m. on 24 September 2026, following which trading in the Ordinary Shares will resume. Admission of the 11,077,468 Conversion Shares to trading on AIM is expected to become effective, and dealings in the Conversion Shares are expected to commence, at 8.00 a.m. on 25 September 2026.
Expected timetable of the Fundraise
The expected timetable of the Fundraise has been amended as follows:
2026
| Result of the Subscription announced | 2:00 p.m. on 24 September |
| Capital Access Window closed | 2:00 p.m. on 24 September |
| Launch of Retail Offer | 8.00 a.m. on 25 September |
| Admission and commencement of dealings in the Conversion Shares | 8:00 a.m. on 25 September |
| Interim Results announced | 7:00 a.m. on 29 September |
| Announcement of any Director Subscriptions | By 3:00 p.m. on 29 September |
| Latest time and date for receipt of online proxy votes or completed Forms of Proxy | 11:00 a.m. on 30 September |
| General Meeting | 11:00 a.m. on 2 October |
| Results of the General Meeting announced | 2 October |
| Admission and commencement of dealings in the Fundraising Shares on AIM | 8:00 a.m. on 5 October |
| CREST accounts expected to be credited with Fundraising Shares and Fundraising Warrants in uncertificated form (uncertificated holders only) | 5 October |
| Expected dispatch of definitive share certificates in respect of Fundraising Shares and certificates in respect of Fundraising Warrants to be issued in certificated form (certificated holders only) | Within 10 Business Days of Admission |
Notes:
Capitalised terms used but not defined in this announcement have the meanings given to them in the Company's announcement released at 1:30pm on 16 September 2026.
Unless otherwise specified, references in this Announcement to time refer to British Summer Time.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.