Kropz PLC Drawdown On New Convertible Equity Facility (8719N)
25 Janvier 2023 - 04:10PM
UK Regulatory
TIDMKRPZ
RNS Number : 8719N
Kropz PLC
25 January 2023
25 January 2023
Kropz Plc
("Kropz" or the "Company")
Drawdown On New Convertible Equity Facility
Kropz Plc (AIM: KRPZ) is pleased to confirm that today it has
made its third drawdown request under the new ZAR 550 million
convertible equity facility from the Company's largest shareholder,
ARC Fund ("ZAR 550 Million Equity Facility"), as announced on 14
November 2022.
The third drawdown is for ZAR 60 million (approximately US$ 3.5
million). ZAR 47.5 million remains available for drawdown over the
term of the ZAR 550 Million Equity Facility.
The next drawdown of the ZAR 550 Million Equity Facility is
expected to be made on or about 23 February 2023 and monthly
thereafter, if required, in line with the terms of the ZAR 550
Million Equity Facility.
ARC Fund has the right, at any time, to convert any outstanding
amount under the ZAR 550 Million Equity Facility into new ordinary
shares in Kropz Plc.
For further information visit www.kropz.com or contact:
Kropz Plc Via Tavistock
Louis Loubser (CEO) +44 (0) 207 920 3150
Grant Thornton UK LLP Nominated Adviser
Samantha Harrison
Harrison Clarke
George Grainger
Ciara Donnelly +44 (0) 20 7383 5100
Hannam & Partners Broker
Andrew Chubb
Ernest Bell +44 (0) 20 7907 8500
Tavistock Financial PR & IR (UK)
Nick Elwes +44 (0) 207 920 3150
Jos Simson kropz@tavistock.co.uk
Emily Moss
R&A Strategic Communications PR (South Africa)
Charmane Russell +27 (0) 11 880 3924
Marion Brower charmane@rasc.co.za
marion@rasc.co.za
About Kropz Plc
Kropz is an emerging African phosphate producer with 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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