MicroSalt Admission to AIM First Day of Dealings

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, is delighted to announce that MicroSalt® plc ("Microsalt") ordinary shares have been admitted to trading on the AIM market of the London Stock Exchange plc ("Admission") and dealings in the Ordinary Shares have commenced at 8.00 a.m. today, 1 February 2024, under the ticker SALT.

Admission highlights

• Market capitalisation of approximately £18.5 million on Admission.
• Successful fundraise totalling approximately £3.14 million (before expenses).
• Tekcapital holds a 77.24% interest in MicroSalt, which at the listing price of 43p per ordinary share, is valued at approximately £14.3m on Admission.

Rick Guiney, CEO of MicroSalt, said:

"We are delighted to announce our successful fundraise and admission to AIM, which is an important step in our development and provides an excellent platform for future growth. The World Health Organisation has stated ambitions to reduce sodium intake by 30% by 2025, and MicroSalt is extremely well placed to help meet the rising demand for lower sodium products with our disruptive, proprietary product and manufacturing process."

According to the WHO[1], "Implementing highly cost-effective sodium reduction policies could save an estimated 7 million lives globally by 2030."

Dr Clifford Gross, CEO of Tekcapital, said:

"Tekcapital's mission is to commercialise new technologies that can improve the quality of life of the customers we serve. MicroSalt has established a new category of full-flavour, low sodium salt, and has demonstrated initial success in onboarding two major B2B companies to incorporate MicroSalt into their existing products and has placed its saltshakers and crisps in hundreds of stores. It's become clear to us, that up until now, there hasn't been a food ingredient that could accomplish sodium reduction without sacrificing flavour. That has now changed. We're excited that MicroSalt has completed its IPO and we are looking forward to their future growth and success. "

Tekcapital holds 33,305,749 ordinary shares of MicroSalt plc which are subject to a 12-month lock-in period from the date of admission. This includes 2,588,140 new ordinary shares which Tekcapital subscribed for in the fundraising at the listing price. Additionally, Tekcapital holds approximately 2.6m warrants exercisable for a period of three years from the date of Admission at 10% above the IPO price.

About MicroSalt® plc

MicroSalt, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples' lives with better-for-you seasonings and snacks by 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 flavour because it is salt. Our new patented 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 improved flavour consistency. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc.

To learn more about MicroSalt please visit https://www.microsalt.co

Zeus Capital acted as Nominated Adviser and sole Broker to MicroSalt and SP Angel Corporate Finance LLP served as placement sub-agent.

Clifford M. Gross, Ph.D.

Richard Morrison / Charlie Bouverat (Corporate Finance) Rob Rees (Corporate Broking)

Flagstaff Strategic and Investor Communications +44 (0)207 129 1474

Tim Thompson/Andrea Seymour/Fergus Mellon

[1] https://www.who.int/news/item/09-03-2023-massive-efforts-needed-to-reduce-salt-intake-and-protect-lives