REG - Kropz PLC - Drawdown On New Convertible Equity Facility

KropzAnnouncement

27/02/2023 10:15

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RNS Number : 1438R  Kropz PLC  27 February 2023

27 February 2023

Kropz Plc

("Kropz" or the "Company")

Drawdown On New Convertible Equity Facility

Kropz Plc (AIM: KRPZ) is pleased to confirm that it has made its fourth
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 fourth drawdown is for ZAR 40 million (approximately US$ 2.2 million). ZAR
7.5 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 March 2023 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 (https://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

 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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