Tekcapital Portfolio Company Salarius Launches Low-Sodium MicroSalt

LONDON (Alliance News) - Intellectual property investor Tekcapital PLC on Tuesday said its ...

Alliance News 23 April, 2019 | 10:08AM
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LONDON (Alliance News) - Intellectual property investor Tekcapital PLC on Tuesday said its portfolio company has launched a low-sodium salt under the name MicroSalt.

Shares in Tekcapital shot up 65% to 10.95 pence in morning trade in London.

The portfolio company, Salarius Ltd, develops and manufactures MicroSalt - salt crystals that are around 100 times smaller than table salt. These smaller grains produce a more powerful flavour, which means less sodium is consumed overall.

In addition to the MicroSalt launch, Salarius has "secured its first customer to incorporate MicroSalt in their snack food business". The customer, whose name was not disclosed, is a US snack food maker, and the MicroSalt will be dispatched to it in May.

Tekcapital owns a 97.5% stake in Salarius.

"We are delighted that Salarius has launched commercial production of MicroSalt and has secured its first customer order to incorporate MicroSalt into their snack food business," said Tekcapital Executive Chair Clifford Gross.

"MicroSalt has the potential to empower companies worldwide to make healthier snacks that reduce sodium consumption for their customers. We believe that Salarius will be successful in not only building a vibrant business, but in making a dent in helping to reduce cardiovascular diseases, the leading cause of death in the world," Gross added.

By Anna Farley; annafarley@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Tekcapital PLC 7.15 GBX -3.05 -
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