TIDMTEK
RNS Number : 5000I
Tekcapital plc
02 April 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
2 April 2020
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius, Ltd.
MEXICO ADOPTS NEW SODIUM REDUCTION GUIDELINES
Tekcapital Plc (AIM: TEK), the UK intellectual property
investment group focused on improving quality of life and creating
marketplace value with university technology, is very pleased to
announce that the Mexican Ministries of Health issued a final rule
( NOM-051 ) on 27 March 2020 that mandates a new front of package
labeling (FOPL) system for all packaged foods. This FOPL is
designed to warn consumers against products that exceed strict
thresholds for sodium, caloric content, added sugar and saturated
fats.
Under the new rule, salty snack brands will need to prominently
add the warning "Excess Sodium" ("Exceso de Sodio") if the product
exceeds 350 milligrams of sodium per 100 grams of product. The
implementation date for the FOPL warnings is 1st October 2020, with
the more stringent nutritional threshold of >300mg starting
1(st) October 2023.
Mexican snack manufacturers are now being challenged to reduce
sodium levels without impacting the taste of their products. In the
snack industry, where flavor is everything, manufacturers are faced
with the potential of new warning labels decreasing their sales if
they don't reduce sodium, and if they do, it will also negatively
impact sales due to a less savory product.
MicroSalt(R), an all natural, proprietary salt made with
micron-sized particles that dissolve in the mouth significantly
faster than regular salt, delivers an increased sensation of
saltiness with approximately 50% less sodium. In light of this new
regulation, the directors believe that MicroSalt provides a
solution to reduce sodium content without compromising flavor,
compared to other sodium reduction methods which adversely affect
taste.
Victor Hugo Manzanilla, CEO of Salarius said, "We are excited to
see the commitment of the Mexican government to inform consumers
and make it easier to select healthier products. There is a serious
need for full flavor, low-sodium solutions in the food industry,
and MicroSalt(R) can help meet this challenge. Salarius is already
in discussions with several leading snack manufacturers to serve
the Mexican market."
Market & Health Information
The Mexican snack food market is expected to register
approximately $4 billion in sales in 2020 and is rapidly growing(1)
.
Hypertension (high blood pressure) is the number one
cardiovascular risk factor and the world's greatest risk factor for
death and disability, according to the World Health Organization.
People with hypertension are three times more likely to die from
heart disease and four times more likely to die from stroke(2) . In
Mexico, with a population of 126 million, there are 22.3 million
hypertensive adults(2) .
Dr Clifford Gross, Executive Chairman at Tekcapital, commented:
"We are very glad to see the inspired action of the Mexican
government to encourage sodium reduction in packaged foods. We
believe this represents a significant opportunity for Salarius to
access a large market for potential future sales of
MicroSalt(R)."
Tekcapital owns 91.7% of the share capital of Salarius ltd.
About Salarius ltd
Salarius, is the developer and manufacturer of a proprietary low
sodium salt called MicroSalt(R). Salarius is passionate about
improving lives with healthier food and is 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 flavor, because it
is salt. The 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 enhanced flavor
consistency. To learn more please visit https://salarius.co/ .
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Joint Broker) +44 (0) 20 3470 0470
Richard Morrison / Charlie Bouverat (Corporate
Finance)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9427
Colin Rowbury (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0)207 129
1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Salarius that may constitute forward-looking
statements. These statements may be identified by words such as
"expect," "look forward to," "anticipate" "intend," "plan,"
"believe," "seek," "estimate," "will," "project" or words of
similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Salarius' and/or
Tekcapital's management. Please note that these are subject to a
number of risks, uncertainties and factors, including, but not
limited to those described in various disclosures. Should one or
more of these risks or uncertainties materialize, or should
underlying expectations not occur or assumptions prove incorrect,
actual results, performance or achievements of Salarius or
Tekcapital may vary materially from those described explicitly or
implicitly in the relevant forward-looking statement. Neither
Salarius nor Tekcapital intends, nor assumes any obligation, to
update or revise these forward-looking statements in light of
developments which differ from those anticipated.
References
1. https://www.statista.com/statistics/863439/snacks-market-value-mexico/
2. https://www.heighpubs.org/hjch/pdf/ach-aid1010.pdf
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END
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