REG - Kropz PLC - Drawdown On New Convertible Equity Facility

KropzAnnouncement

25/01/2023 15:15

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RNS Number : 8719N  Kropz PLC  25 January 2023

25 January 2023

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 third
drawdown 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 third drawdown is for ZAR 60 million (approximately US$ 3.5 million). ZAR
47.5 million remains available for drawdown over the term of the ZAR 550
Million Equity Facility.

The next drawdown of the ZAR 550 Million Equity Facility is expected to be
made on or about 23 February 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 (about%3Ablank)  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

 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

 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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