TIDMKRPZ

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 
                                  Adviser 
 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 
                                  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 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.

-ENDS-

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCBGGDRBXGDGDR

(END) Dow Jones Newswires

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

Kropz (LSE:KRPZ)
Graphique Historique de l'Action
De Sept 2022 à Oct 2022 Plus de graphiques de la Bourse Kropz
Kropz (LSE:KRPZ)
Graphique Historique de l'Action
De Oct 2021 à Oct 2022 Plus de graphiques de la Bourse Kropz