REG - Kropz PLC - Drawdown On New Convertible Equity Facility

KropzAnnouncement

22/12/2022 13:45

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RNS Number : 6625K  Kropz PLC  22 December 2022

22 December 2022

Kropz Plc

("Kropz" or the "Company")

Drawdown On New Convertible Equity Facility

 

Kropz plc (AIM: KRPZ) is pleased to confirm that today it has made its second
draw down request under the new ZAR 550 million convertible equity facility
from the Company's largest shareholder, ARC Fund ("ZAR 550 Million Equity
Facility"), as announced on 14 November 2022.

 

The second draw down is for ZAR 135 million (approximately US$ 7.9 million).
ZAR 107.5 million remains available for drawdown over the term of the ZAR 550
Million Equity Facility.

 

The next draw down of the ZAR 550 Million Equity Facility is expected to be
made on or about 23 January 2023 and monthly thereafter, if required, in line
with the terms of the ZAR 550 Million Equity Facility.

ARC Fund has the right, at any time, to convert any outstanding amount under
the ZAR 550 Million Equity Facility into new ordinary shares in Kropz Plc.

 

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)
 Charmane Russell                  +27 (0) 11 880 3924

                                   charmane@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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