SALT Microsalt Plc

9 December 2024

MicroSalt plc

("MicroSalt" or the "Company")

Shareholder Circular and Notice of General Meeting

MicroSalt plc (AIM: SALT), a leading provider of full-flavour, natural salt with approximately 50% less sodium, announces that a circular (the "Circular") has been posted to shareholders to convene a general meeting to be held on Monday 6 January 2025 at 14:00 (GMT) to seek shareholder approval in connection with the adoption by the Company of a long term incentive plan ("LTIP") for employees as well as an addendum to the LTIP to enable options to be granted to US participants and others (the "General Meeting").

At the time of admission of the Company's ordinary shares to trading on AIM ("Admission"), the Company had not adopted a formal share option plan but certain share options had been granted as a result of existing share-based remuneration schemes that the Company and its subsidiaries (the "Group") had operated prior to Admission. Following Admission, the board of directors of the Company, with particular support from the Remuneration Committee, has undertaken an extensive review of the Company's incentive arrangements and the options available to the Group with regard to implementing an incentive-based remuneration scheme which will assist in incentivising the employees of the Group and retaining those individuals who are key to the Group's future success.

Further details of the LTIP are set out in the Circular, but in summary:

-     Options to be granted under the LTIP shall not exceed 10 per cent. of the issued share capital of the Company;

-     Financial and non-financial vesting criteria will be attached to options granted; and

-     Participants not to receive options having a market value in excess of 200% of their annual base salary for the financial year

The Circular and Notice of General Meeting will be sent to shareholders today and will also be made available on the Company's website shortly.

Shareholders are reminded to review carefully the actions to be taken by them in connection with the General Meeting, which are detailed in the Circular. The procedures and timings for shareholders to vote on the resolutions proposed at the General Meeting are set out in the notes to the notice of the General Meeting in the Circular.

About MicroSalt plc

MicroSalt® is dedicated to innovating food technology solutions that enable people to live longer, healthier, and happier lives. Its patented low-sodium salt delivers natural salt with approximately 50% less sodium and may be used by both consumers and food manufacturers to decrease the amount of sodium in their food. SaltMe! chips are produced using MicroSalt®, a patented innovative salt technology which is 100% natural, non-GMO, gluten free, and Kosher certified, that does not contain any potassium chloride. To learn more about MicroSalt Inc. and MicroSalt® products, please visit https://microsalt.co, follow on X @microSaltPLC or contact:

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% 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 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.