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Kropz Plc made final drawdowns from its facilities with major shareholder, ARC Fund. These drawdowns consisted of ZAR 20 million from the Bridge Loan and ZAR 7.5 million from the ZAR 550 Million Equity Facility.
| Date | 8 Dec 2023 |
| Time | 12:06:49 |
| Category | Miscellaneous |
| ID | 2164W |
8 December 2023
Kropz Plc
("Kropz" or the "Company")
Drawdown on Convertible Equity Facility and Bridge Loan
Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 14 November 2022 that it had entered into a new conditional convertible equity facility of up to ZAR 550 million ("ZAR 550 Million Equity Facility") (approximately US$ 31.6 million), with ARC Fund ("ARC"), the Company's major shareholder.
As announced on 14 September 2023, Kropz had entered into new bridge loan facilities of ZAR 250 million (the "Bridge Loan") with ARC to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.
Final drawdowns on the Bridge Loan for ZAR 20 million and ZAR 7.5 million on the ZAR 550 Million Equity Facility have now been made.
For further information visit www.kropz.com or contact:
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Kropz Plc |
Via Tavistock |
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Louis Loubser (CEO) |
+44 (0) 207 920 3150 |
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Grant Thornton UK LLP |
Nominated Adviser |
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Samantha Harrison Harrison Clarke Ciara Donnelly
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+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 Marion Brower |
+27 (0) 11 880 3924 charmane@rasc.co.za marion@rasc.co.za
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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.
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