Kropz PLC Drawdown on Equity Facility and Bridge Loan (2164W)

TIDMKRPZ

RNS Number : 2164W

Kropz PLC

08 December 2023

8 December 2023

Kropz Plc

("Kropz" or the "Company")

Drawdown on Convertible Equity Facility and Bridge Loan

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 14 November 2022 that it had entered into a new conditional convertible equity facility of up to ZAR 550 million ("ZAR 550 Million Equity Facility") (approximately US$ 31.6 million), with ARC Fund ("ARC"), the Company's major shareholder.

As announced on 14 September 2023, Kropz had entered into new bridge loan facilities of ZAR 250 million (the "Bridge Loan") with ARC to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.

Final drawdowns on the Bridge Loan for ZAR 20 million and ZAR 7.5 million on the ZAR 550 Million Equity Facility have now been made.

   For further information visit   www.kropz.com  or contact: 
 
 Kropz Plc                       Via Tavistock 
                                 +44 (0) 207 920 
 Louis Loubser (CEO)              3150 
 
 Grant Thornton UK LLP           Nominated Adviser 
 Samantha Harrison 
  Harrison Clarke                +44 (0) 20 7383 
  Ciara Donnelly                  5100 
 
 Hannam & Partners               Broker 
 Andrew Chubb                    +44 (0) 20 7907 
  Ernest Bell                     8500 
 
 Tavistock                       Financial PR & 
                                  IR (UK) 
 Nick Elwes                      +44 (0) 207 920 
  Jos Simson                      3150 
  Emily Moss                      kropz@tavistock.co.uk 
 
 R&A Strategic Communications    PR (South Africa) 
 Charmane Russell                +27 (0) 11 880 
  Marion Brower                   3924 
                                  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

MSCNKFBKBBDDQBK

(END) Dow Jones Newswires

December 08, 2023 07:06 ET (12:06 GMT)

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