REG - Kropz PLC - Director and Management Changes, and Sales Update

KropzAnnouncement

19/12/2022 07:00

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RNS Number : 0735K  Kropz PLC  19 December 2022

19 December 2022

Kropz Plc

("Kropz" or the "Company")

Director and Management Changes,

and Sales Update

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer,
announces an update on the director and management changes at Kropz and Kropz
Elandsfontein (Pty) Ltd ("Kropz Elandsfontein").

As announced on 20 July 2022, Mark Summers, the Chief Executive Officer
("CEO") of Kropz, has decided to stand down as CEO. The Kropz Board has
identified and is in the process of engaging with a potential candidate to
take over the role of CEO and executive director of Kropz and its
subsidiaries. The formal appointment and announcement are expected to be
finalised in early January 2023. In the meantime, Mark Summers has agreed to
remain as CEO until the appointment is formalised. Mark Summers and Michelle
Lawrence (outgoing Chief Operating Officer of Kropz) have also agreed to
remain with Kropz, under   short-term consulting agreements, in order to
assist with a handover to the new CEO and ensure continuity of the operations
across the Company.

Progress is being made with regards to the first bulk concentrate sale from
Kropz Elandsfontein. The sale of approximately 30,000 tonnes of concentrate is
expected to ship in early 2023. The product, which has been generated
throughout the commissioning and ramp up period, will be sold at a discount to
current market prices.

Further updates will be announced in due course.

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

 

 Kropz Plc                         Via Tavistock
 Mark Summers (CEO)                +44 (0) 207 920 3150

 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

 Emily Moss

 R&A Strategic Communications      PR (South Africa)
 Charmane Russell                  +27 (0) 11 880 3924

                                   charmane@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 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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