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(Alliance News) - Tekcapital PLC shares rose on Monday after saying its portfolio company Salarius Ltd signed an agreement with a natural food distributor for the sale of its SaltMe! snack line in North America.
Shares in the intellectual property investment group were 23% higher at 4.90 pence on Monday in London.
Oxford-based Tekcapital holds a 92% interest in Salarius, which develops and manufactures a low sodium salt product known as MicroSalt.
Purchase orders and shipping of the product is expected to start in the second quarter of 2020 for all four flavour crisps that have been launched by Salarius.
"We are very glad to see that Salarius has signed an agreement with one of the largest natural food distributors for its SaltMe! potato crisps. This is a terrific milestone for the company and underscores our core belief that when you combine vibrant intellectual property with star-power management, exciting things can happen," said Executive Chair Clifford Gross.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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