REG - Kropz PLC - Drawdown on Equity Facility and Bridge Loan

KropzAnnouncement

08/12/2023 12:15

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RNS Number : 2164W  Kropz PLC  08 December 2023

8 December 2023

Kropz Plc

("Kropz" or the "Company")

Drawdown on Convertible Equity Facility and Bridge Loan

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer,
announced on 14 November 2022 that it had entered into a new conditional
convertible equity facility of up to ZAR 550 million ("ZAR 550 Million
Equity Facility") (approximately US$ 31.6 million), with ARC Fund ("ARC"), the
Company's major shareholder.

As announced on 14 September 2023, Kropz had entered into new bridge loan
facilities of ZAR 250 million (the "Bridge Loan") with ARC to meet immediate
cash requirements at Kropz Elandsfontein (Pty) Ltd.

Final drawdowns on the Bridge Loan for ZAR 20 million and ZAR 7.5 million on
the ZAR 550 Million Equity Facility have now been made.

 

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