REG - Kropz PLC - Drawdown on Bridge Loan Facilities

KropzAnnouncement

18/08/2023 13:30

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RNS Number : 8188J  Kropz PLC  18 August 2023

 

18 August 2023

Kropz Plc

("Kropz" or the "Company")

 

Drawdown on Bridge Loan Facilities

 

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer,
announced on 14 March 2023 that it had entered into new bridge loan
facilities of ZAR 285 million (the "Loan") with its major shareholder, the ARC
Fund, to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.

 

The first draw down on the Loan for an amount of ZAR 25 million was made on
14 March 2023, a second draw down on the Loan for an amount of ZAR 90
million was made on 28 March 2023, a third drawdown was made for an amount of
ZAR 30 million on 25 April 2023, a fourth draw down on the Loan for an amount
of ZAR 80 million was made on 23 June 2023 and a fifth draw down request for
an amount of ZAR 60 million was made today.  The Loan is now drawn down in
full.

 

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

 Emily Moss

 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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