TIDMKRPZ

RNS Number : 9475X

Kropz PLC

01 September 2022

1 September 2022

Kropz Plc

("Kropz" or the "Company")

Drawdown on Bridge Loan Facility

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 9 August 2022 that it had entered into a new bridge loan facility of ZAR 121.5 million (the "Loan") with its major shareholder, the ARC Fund, to meet immediate cash requirements due to further delays in the ramp up of operations at Kropz Elandsfontein (Pty) Ltd ("Elandsfontein"). Progress continues to be made, however, in the ramp up.

The first draw down on the Loan for an amount of ZAR 60 million was made on 9 August 2022. A further draw down of ZAR 47 million will be made today to cover immediate funding requirements at Elandsfontein.

Kropz and ARC Fund are currently working on a comprehensive funding structure to finance any further funding requirements in Kropz.

The Company will provide further updates in due course.

   For further information visit   www.kropz.com  or contact: 
 
 Kropz Plc                       Via Tavistock 
                                 +44 (0) 207 
 Mark Summers (CEO)               920 3150 
 
 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

MSCUAOKRUAUKRRR

(END) Dow Jones Newswires

September 01, 2022 05:33 ET (09:33 GMT)

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