t
| Date | 7 Jul 2022 |
| Time | 11:33:21 |
| Category | Miscellaneous |
| ID | 6957R |
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 or contact:
|
Kropz Plc |
|
|
Mark Summers (CEO) |
+27 (0) 79 744 8708 |
|
|
|
|
Grant Thornton UK LLP |
Nominated Adviser |
|
Samantha Harrison Harrison Clarke George Grainger Ciara Donnelly |
+44 (0) 20 7383 5100 |
|
|
|
|
Hannam & Partners |
Broker |
|
Andrew Chubb Ernest Bell |
+44 (0) 20 7907 8500 |
|
|
|
|
Tavistock |
Financial PR & IR (UK) |
|
Nick Elwes Jos Simson Emily Moss |
+44 (0) 207 920 3150 |
|
|
|
|
R&A Strategic Communications |
PR (South Africa) |
|
James Duncan |
+27 (0) 11 880 3924 |
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-