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LONDON - MicroSalt plc (AIM:SALT), a manufacturer of reduced-sodium salt products, disclosed Wednesday that an unauthorized $150,000 debt repayment was made to Tekcapital Europe Limited on June 5, 2025, constituting an undisclosed related party transaction under AIM Rule 13.
The company’s independent directors - Judith Batchelar, Dan Emery, and Gary Urmston - stated they were not aware of the payment when it occurred and "do not expect they would have considered it to have been fair and reasonable" based on current information.
The payment violated proper governance procedures as the company’s Nominated Adviser was not consulted, which is required for related party transactions under AIM rules.
The independent directors are now investigating the circumstances surrounding the payment "as a matter of urgency," according to the press release statement.
MicroSalt, which produces salt products with approximately 50% less sodium, said it will provide additional updates on the situation "in due course."
The company classified the announcement as containing inside information under Article 7 of the Market Abuse Regulation.
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