Kropz PLC Drawdown on Equity Facility (6957R)
07 Juillet 2022 - 12:33PM
UK Regulatory
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-
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END
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