Kropz PLC Drawdown on Bridge Loan Facilities (8188J)

TIDMKRPZ

RNS Number : 8188J

Kropz PLC

18 August 2023

Kropz Plc

("Kropz" or the "Company")

Drawdown on Bridge Loan Facilities

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 14 March 2023 that it had entered into new bridge loan facilities of ZAR 285 million (the "Loan") with its major shareholder, the ARC Fund, to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.

The first draw down on the Loan for an amount of ZAR 25 million was made on 14 March 2023, a second draw down on the Loan for an amount of ZAR 90 million was made on 28 March 2023, a third drawdown was made for an amount of ZAR 30 million on 25 April 2023, a fourth draw down on the Loan for an amount of ZAR 80 million was made on 23 June 2023 and a fifth draw down request for an amount of ZAR 60 million was made today. The Loan is now drawn down in full.

   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 
  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 and developer 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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August 18, 2023 08:20 ET (12:20 GMT)

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