Kropz PLC Convertible Equity Facility Draw Downs (9927E)
16 Mars 2022 - 03:35PM
UK Regulatory
TIDMKRPZ
RNS Number : 9927E
Kropz PLC
16 March 2022
16 March 2022
Kropz Plc
("Kropz" or the "Company")
Convertible Equity Facility Draw Downs
Kropz Plc (AIM: KRPZ), an emerging African phosphate producer
and developer, is pleased to confirm that it has made its third
draw down request under the conditional convertible equity facility
of up to ZAR 200 million ("ZAR Equity Facility"), with its major
shareholder, the ARC Fund ("ARC"), as announced on 29 September
2021.
The ZAR Equity Facility comprises a total commitment of up to
ZAR 200 million provided by ARC, which can be drawn down at the
discretion of Kropz, as follows:
o ZAR 127 million from the date that all the conditions to the
ZAR Equity Facility have been met (the "Effective Date") and up to
30 April 2022; and
o ZAR 73 million from the date as determined by ARC, and at its
discretion, but no earlier than the Effective Date and until a
further date as determined by ARC.
In terms of the ZAR127 million first commitment, ZAR90 million
was drawn down on 26 October 2021 and ZAR37 million was drawn down
on 10 December 2021.
The request for a drawdown of ZAR40 million of the remaining ZAR
73 million of the ZAR Equity Facility from ARC was made on 16 March
2022 and has been approved by ARC for draw down on 25 March
2022.
The Company will provide further updates on the Elandsfontein
project and further production progress in due course.
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 producer 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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END
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