REG - Kropz PLC - Convertible Equity Facility Draw Downs

KropzAnnouncement

16/03/2022 14:45

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RNS Number : 9927E  Kropz PLC  16 March 2022

16 March 2022

Kropz Plc

("Kropz" or the "Company")

 

Convertible Equity Facility Draw Downs

 

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer,
is pleased to confirm that it has made its third draw down request under the
conditional convertible equity facility of up to ZAR 200 million ("ZAR Equity
Facility"), with its major shareholder, the ARC Fund ("ARC"), as announced on
29 September 2021.

The ZAR Equity Facility comprises a total commitment of up to ZAR 200 million
provided by ARC, which can be drawn down at the discretion of Kropz, as
follows:

o  ZAR 127 million from the date that all the conditions to the ZAR Equity
Facility have been met (the "Effective Date") and up to 30 April 2022; and

o  ZAR 73 million from the date as determined by ARC, and at its discretion,
but no earlier than the Effective Date and until a further date as determined
by ARC.

In terms of the ZAR127 million first commitment, ZAR90 million was drawn down
on 26 October 2021 and ZAR37 million was drawn down on 10 December 2021.

The request for a drawdown of ZAR40 million of the remaining ZAR 73 million of
the ZAR Equity Facility from ARC was made on 16 March 2022 and has been
approved by ARC for draw down on 25 March 2022.

 

The Company will provide further updates on the Elandsfontein project and
further production progress in due course.

 

For further information visit www.kropz.com (http://www.kropz.com/)  or
contact:

 

 Kropz Plc
 Mark Summers (CEO)                +27 (0) 79 744 8708

 Grant Thornton UK LLP             Nominated Adviser
 Samantha Harrison                 +44 (0) 20 7383 5100

 Harrison Clarke

 George Grainger

 Ciara Donnelly

 Hannam & Partners                 Broker
 Andrew Chubb                       +44 (0) 20 7907 8500

 Ernest Bell

 Tavistock                         Financial PR & IR (UK)
 Nick Elwes                        +44 (0) 207 920 3150

 Jos Simson                        kropz@tavistock.co.uk

 Oliver Lamb

 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 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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