Kropz PLC Equity Facility Draw Down (7475D)

TIDMKRPZ

RNS Number : 7475D

Kropz PLC

07 March 2022

7 March 2022

Kropz Plc

("Kropz" or the "Company")

Equity Facility Draw Down

Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, is pleased to confirm that it has made a further quarterly draw down request under one of the equity facilities with its major shareholder, the

ARC Fund ("ARC") .   The Company had/has three equity facilities with ARC:

- the first being for an amount of US$ 40 million (which cannot exceed ZAR 680 million), as announced on 13 May 2020 ("Original Equity Facility");

- the second for an amount of up to US$ 5 million (which cannot exceed ZAR 85 million) , as announced on 26 February 2021 ("New Equity Facility"); and

- the third for a total commitment of up to ZAR 200 million to be provided by ARC, as announced on 29 September 2021 ("New ZAR Equity Facility").

As announced on 7 September 2021, the Original Equity Facility is fully drawn down. In accordance with the terms of the Original Equity Facility, any fees associated with the bank guarantee provided by ARC, would be settled by the issue of new ordinary shares to ARC. ARC notified the Company that the final guarantee fees due to ARC amounted to US$311,733. These fees will be settled by the issue of 3,971,712 new ordinary shares at the issue price of 6.75 pence per share to ARC on 10 March 2022.

In addition, the Company has made the fifth and final draw down request of US$ 200,000 under the New Equity Facility. This draw down will be settled by the issue of 3,474,536 new ordinary shares at the issue price of 4.20 pence per share to ARC on 10 March 2022. The proceeds drawn down from the New Equity Facility will be utilised for general corporate purposes.

To date ZAR 127 million has been drawn down on the New ZAR Equity Facility. The remaining ZAR 73 million can be drawn down by the Company, at the sole discretion of ARC.

Admission and Total Voting Rights

Application will be made for the 7,446,248 new ordinary shares to admission to trading on the AIM Market of the London Stock Exchange ("AIM"). It is expected that admission will become effective and that dealings in the new ordinary shares will commence at 8.00 a.m. on 10 March 2022 ("Admission").

On Admission, the Company's issued share capital will consist of 923,718,223 ordinary shares with voting rights. There are no shares held in treasury. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Change in Shareholding

Following issue of the 7,446,248 new ordinary shares, ARC will be directly interested in 768,339,330 ordinary shares of the Company representing 83.2 per cent. of the issued share capital.

In addition, ARC holds call options over certain shares held by Kropz International S.a.r.l as set out in the announcement on 26 February 2021.

   For further information visit   www.kropz.com  or contact: 
 
 Kropz Plc 
                                 +27 (0) 79 744 
 Mark Summers (CEO)               8708 
 
 Grant Thornton UK LLP           Nominated Adviser 
 Samantha Harrison 
  Harrison Clarke 
  George Grainger                +44 (0) 20 7383 
  Ciara Donnelly                  5100 
 
 Hannam & Partners               Broker 
 Andrew Chubb                     +44 (0) 20 7907 
  Ernest Bell                      8500 
 
 Tavistock                       Financial PR & 
                                  IR (UK) 
 N ick Elwes                     +44 (0) 207 920 
  Jos Simson                      3150 
  Oliver Lamb                     kropz@tavistock.co.uk 
 
 R&A Strategic Communications    PR (South Africa) 
 James Duncan                    +27 (0) 11 880 
                                  3924 
                                  james@rasc.co.za

About Kropz Plc

Kropz is an emerging African explorer and developer of plant nutrient feed minerals with phosphate projects in South Africa and the Republic of Congo. The vision of the Group is to become a leading independent phosphate rock producer and to develop into an integrated, mine-to-market plant nutrient company focusing on sub-Saharan Africa.

-ENDS-

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March 07, 2022 02:00 ET (07:00 GMT)

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