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Kropz Plc announced on 19 December 2022 that CEO Mark Summers will remain in his role until a new CEO, expected in early January 2023, is formally appointed. Summers and outgoing COO Michelle Lawrence will also continue under short-term consulting agreements for handover, while Kropz Elandsfontein progresses with a first bulk concentrate sale of approximately 30,000 tonnes, expected to ship in early 2023 at a discounted price.
| Date | 19 Dec 2022 |
| Time | 07:00:07 |
| Category | Board changes |
| ID | 0735K |
19 December 2022
Kropz Plc
("Kropz" or the "Company")
Director and Management Changes,
and Sales Update
Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announces an update on the director and management changes at Kropz and Kropz Elandsfontein (Pty) Ltd ("Kropz Elandsfontein").
As announced on 20 July 2022, Mark Summers, the Chief Executive Officer ("CEO") of Kropz, has decided to stand down as CEO. The Kropz Board has identified and is in the process of engaging with a potential candidate to take over the role of CEO and executive director of Kropz and its subsidiaries. The formal appointment and announcement are expected to be finalised in early January 2023. In the meantime, Mark Summers has agreed to remain as CEO until the appointment is formalised. Mark Summers and Michelle Lawrence (outgoing Chief Operating Officer of Kropz) have also agreed to remain with Kropz, under short-term consulting agreements, in order to assist with a handover to the new CEO and ensure continuity of the operations across the Company.
Progress is being made with regards to the first bulk concentrate sale from Kropz Elandsfontein. The sale of approximately 30,000 tonnes of concentrate is expected to ship in early 2023. The product, which has been generated throughout the commissioning and ramp up period, will be sold at a discount to current market prices.
Further updates will be announced in due course.
For further information visit www.kropz.com or contact:
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Kropz Plc |
Via Tavistock |
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Mark Summers (CEO) |
+44 (0) 207 920 3150 |
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Grant Thornton UK LLP |
Nominated Adviser |
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Samantha Harrison Harrison Clarke George Grainger Ciara Donnelly |
+44 (0) 20 7383 5100 |
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Hannam & Partners |
Broker |
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Andrew Chubb Ernest Bell |
+44 (0) 20 7907 8500 |
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Tavistock |
Financial PR & IR (UK) |
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Nick Elwes Jos Simson Emily Moss |
+44 (0) 207 920 3150 kropz@tavistock.co.uk |
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R&A Strategic Communications |
PR (South Africa) |
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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.
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