REG - Kropz PLC - Results of GM and Equity Facility Draw Down

KropzAnnouncement

29/05/2020 11:50

RNS Number : 3916O
  
Kropz PLC
  
29 May 2020
  
 

29 May 2020
Kropz Plc
("Kropz" or the "Company")
 
Results of General Meeting and Equity Facility Draw Down



Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, is pleased to announce that all the resolutions put to its General Meeting ("GM"), held earlier today Friday, 29 May 2020, were duly passed on a poll. A breakdown of proxy votes lodged prior to the GM will be available shortly on the Company's website.
 
Equity Facility Draw Down
 
As announced on 13 May 2020, Kropz entered into a conditional convertible equity facility of up to US$ 40 million (not exceeding a maximum of ZAR 680 million) with the ARC Fund, the Company's major Shareholder ("Equity Facility") which was conditional on, inter alia, passing of the resolutions at today's GM. Once the other conditions to the Equity Facility are satisfied, the Company will make its first quarterly draw down request under the Equity Facility of US$ 8 million. A further announcement will be made in due course in regards to the draw down and the issue of shares as settlement of this tranche which is expected on 10 June 2020.
 
For further information visit www.kropz.com or contact:



Kropz Plc


 




Mark Summers (Interim CEO)


+27 (0)79 744 8708




 


 




Grant Thornton UK LLP


Nominated Adviser




Richard Tonthat
Samantha Harrison
Niall McDonald


+44 (0)20 7383 5100




 


 




Hannam & Partners


Joint Broker




Andrew Chubb
Ernest Bell


 +44 (0)20 7907 8500




 




Mirabaud Securities Ltd


Joint Broker




Rory Scott
Edward Haig-Thomas


+44 (0)20 3167 7220
+44 (0)20 3167 7222




 


 




Tavistock


Financial PR & IR (UK)




Emily Moss
Jos Simson
Oliver Lamb


+44 (0)20 7920 3150
kropz@tavistock.co.uk




 




R&A Strategic Communications


PR (South Africa)




James Duncan


+27 (0)11 880 3924
james@rasc.co.za 



About Kropz
Kropz is an emerging African phosphate explorer and developer, with an advanced stage phosphate project in South Africa and a phosphate project 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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