Microsalt PLC — AGM Information 2024

Jun 21, 2024

National Storage Mechanism | Additional information

RNS Number : 4565T

MicroSalt PLC

21 June 2024

21 June 2024

MicroSalt Plc

("MicroSalt" or the "Company")

Result of AGM

MicroSalt plc, a company commercialising a patented technology to produce full-flavour, low-sodium salt for food manufacturers and consumers is pleased to announce that all resolutions proposed to shareholders at its Annual General Meeting today were duly passed.

The total number of votes received in respect of all resolutions were as follows:

No.	For		Against		Votes Withheld	Total Votes Cast
Number of Votes	%	Number of Votes	% Votes against
Ordinary Resolutions
1. Approval of Annual Report and Accounts	33,958,101	100.00%	0	0.00%	9,086	33,958,101
2. To re-appointment Crowe U.K. LLP as Auditors	33,935,922	100.00%	0	0.00%	31,265	33,935,922
3. To authorise Directors to set Auditors remuneration	33,935,922	100.00%	0	0.00%	31,265	33,935,922
4. To re-elect Rick Guiney as a Director	33,967,187	100.00%	0	0.00%	0	33,967,187
5. To re-elect Konrad Dabrowski as a Director	33,848,944	99.99%	684	0.002%	117,559	33,849,628
6. To re-elect Judith Batchelar as a Director	33,849,628	100.00%	0	0.00%	117,559	33,849,628
7. To re-elect Daniel Emery as a Director	33,817,679	99.99%	684	0.002%	148,824	33,818,363
8. To re-elect Gary Urmston as a Director	33,818,363	100.00%	0	0.00%	148,824	33,818,363
9. Authority to Allot Shares	33,848,944	99.99%	684	0.002%	117,559	33,849,628
Special Resolution
10. Disapplication of pre-emption rights	33,818,363	100.00%	0	0.000%	148,824	33,818,363

Notes:

1.   Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.

2.   Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.

3.   A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against".

4.   The number of shares in issue on 21 June 2024 was 47,147,401.

5.   The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at www.microsalt.co.

For further information, please visit MicroSalt's website or contact:

MicroSalt plc	Via Flagstaff PR
Rick Guiney, CEO
Zeus (Nominated Adviser and Broker)	+44 (0)20 3829 5000
David Foreman / James Edis (Investment Banking)
Dom King (Corporate Broking), Rupert Woolfenden (Sales)
Flagstaff PR (Financial PR/IR)	+44 (0)20 7129 1474
Tim Thompson / Alison Allfrey / Anna Probert

Notes to Editors

MicroSalt® produces a patented full-flavour, low-sodium salt for food manufacturers and consumers.

MicroSalt is a major potential disruptor in the food market, thanks to its micron sized particles which deliver the same sense of saltiness to a wide range of foods but with approximately 50% less sodium. Excess sodium consumption is a significant contributor to cardiovascular disease and MicroSalt's solution meets the rising demand for healthier alternatives to traditional salt. The WHO has set a target for reducing global sodium intake by 30% by 2025, which it estimates will save 7 million lives by 2030.

Each year, cardiovascular disease costs the UK £19 billion - if the average salt intake was reduced by one gram per day, it has been estimated that 4,147 lives and £288 million would be saved each year in the UK. As a nation, the UK consumes 183 million kilograms of salt each year, and 70 per cent. of the typical person's sodium intake is hidden in processed foods.

Operational since 2018, MicroSalt uses a patent-protected technology which helps create high barriers to entry within the reduced-sodium salt market. The group has a US patent and 14 patent applications pending in other jurisdictions globally.

The Directors believe that MicroSalt is well positioned to capture growth in the low sodium market, which is expected to grow exponentially, and that there is also scope to enter the larger salt market.

MicroSalt has a three-pronged marketing strategy, targeting large B2B food manufacturers, the B2C market and e-commerce customers. MicroSalt's all natural, low-sodium solution is well positioned to take advantage of the fast-growing market for a healthier alternative to traditional salt.

ENDS

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