REG - Kropz PLC - Drawdown on Bridge Loan Facility

KropzAnnouncement

01/09/2022 10:45

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RNS Number : 9475X  Kropz PLC  01 September 2022

1 September 2022

Kropz Plc

("Kropz" or the "Company")

Drawdown on Bridge Loan Facility

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer,
announced on 9 August 2022 that it had entered into a new bridge loan facility
of ZAR 121.5 million (the "Loan") with its major shareholder, the ARC Fund, to
meet immediate cash requirements due to further delays in the ramp up of
operations at Kropz Elandsfontein (Pty) Ltd ("Elandsfontein"). Progress
continues to be made, however, in the ramp up.

The first draw down on the Loan for an amount of ZAR 60 million was made on 9
August 2022. A further draw down of ZAR 47 million will be made today to cover
immediate funding requirements at Elandsfontein.

Kropz and ARC Fund are currently working on a comprehensive funding structure
to finance any further funding requirements in Kropz.

The Company will provide further updates 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)
 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 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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