RNS Number : 6957R

Kropz PLC

07 July 2022

7 July 2022

Kropz Plc

("Kropz" or the "Company")

Drawdown on Equity Facility

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 11 May 2022 that it had entered into a new conditional convertible equity facility of up to ZAR 177 million ("ZAR 177 Million Equity Facility"), with ARC Fund ("ARC"), the Company's major shareholder, in order to deliver the Company's Elandsfontein phosphate project to first revenue.

The first drawdown on the ZAR 177 Million Equity Facility of ZAR 103.5 million was made on 2 June 2022. The bridge loan of ZAR 25 million, as announced on 27 April 2022 was set off against the first draw down amount and the net amount of ZAR 78.5 million was received by the Company from ARC.

The second drawdown on the ZAR 177 Million Equity Facility of ZAR 60 million was made on 7 July 2022. ZAR 13.5 million remains to be drawn down on the ZAR 177 Million Equity Facility.

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

About Kropz Plc

Kropz is an emerging African producer and developer of plant nutrient feed minerals with phosphate projects in South Africa and in 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.


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(END) Dow Jones Newswires

July 07, 2022 06:33 ET (10:33 GMT)

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