REG - Kropz PLC - Drawdown on Equity Facility

KropzAnnouncement

07/07/2022 11:45

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RNS Number : 6957R  Kropz PLC  07 July 2022

7 July 2022

Kropz Plc

("Kropz" or the "Company")

Drawdown on Equity Facility

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer,
announced on 11 May 2022 that it had entered into a new conditional
convertible equity facility of up to ZAR 177 million ("ZAR 177 Million Equity
Facility"), with ARC Fund ("ARC"), the Company's major shareholder, in order
to deliver the Company's Elandsfontein phosphate project to first revenue.

The first drawdown on the ZAR 177 Million Equity Facility of ZAR 103.5 million
was made on 2 June 2022. The bridge loan of ZAR 25 million, as announced on 27
April 2022 was set off against the first draw down amount and the net amount
of ZAR 78.5 million was received by the Company from ARC.

The second drawdown on the ZAR 177 Million Equity Facility of ZAR 60 million
was made on 7 July 2022. ZAR 13.5 million remains to be drawn down on the ZAR
177 Million Equity Facility.

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

 

 Kropz Plc
 Mark Summers (CEO)                +27 (0) 79 744 8708

 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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