REG - Kropz PLC - Phosphate project sales update & further drawdown

KropzAnnouncement

25/04/2023 09:15

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RNS Number : 3710X  Kropz PLC  25 April 2023

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

25 April 2023

Kropz Plc

("Kropz" or the "Company")

 

Elandsfontein phosphate project sales update and further drawdown of bridge
loan facilities

 

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer,
is pleased to announce further sales of 43,886 tonnes of phosphate concentrate
from Kropz Elandsfontein (Pty) Ltd ("Elandsfontein") during April 2023. The
Company is pleased to be able to report this continuation of sales and expects
to update the market quarterly going forwards as sales continue.

 

As announced on 14 March 2023 the Company had entered into new bridge loan
facilities of ZAR 285 million (the "Loan") with its major shareholder, the ARC
Fund, to meet immediate cash requirements at Elandsfontein.  The first draw
down on the Loan for an amount of ZAR 25 million was made on 14 March 2023,
a second draw down for an amount of ZAR 90 million was made on 28 March 2023
and a third draw down on the Loan of ZAR 30 million was made today.

 

For further information visit www.kropz.com (about:blank)  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 and developer 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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