REG - Kropz PLC - Drawdown on Bridge Loan and BNP Loan Update

KropzAnnouncement

03/04/2024 16:30

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RNS Number : 2108J  Kropz PLC  03 April 2024

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

03 April 2024

Kropz Plc

("Kropz" or the "Company")

 

Drawdown on Bridge Loan Facilities

and

BNP loan facility agreement update

 

 

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer,
announced on 27 March that it had entered into a new bridge loan facility of
ZAR 170 million (the "Loan") with its major shareholder, the ARC Fund, to
meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.

 

The second draw down on the Loan for an amount of ZAR 73 million has been
made.

 

BNP loan facility agreement update

 

As previously announced, the Company is in the process of refinancing the BNP
loan facility (outstanding amount US$ 11 250 000). BNP has extended its waiver
period to 30 June 2024. A replacement loan is expected to be in place by the
second quarter of 2024.

 

 

For further information visit www.kropz.com (about:blank)  or contact:

 Kropz Plc                         Via Tavistock
 Louis Loubser (CEO)               +44 (0) 207 920 3150

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

 Harrison Clarke

 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

 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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