Open Offer & Equity Facility Update

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The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

19 June 2020

Kropz Plc

("Kropz" or the "Company")

Final Extension of Open Offer Closing Date and Equity Facility Draw Down Update

Further to the Company's announcements of 10 and 12 June 2020, Kropz Plc (AIM: KRPZ) announces that it will extend further, for the final time, the latest time and date for receipt of completed Application Forms and payment in full under the Open Offer, or settlement of the relevant CREST instructions (as appropriate), from 11.00 a.m. on 19 June 2020 to 11.00 a.m. on 26 June 2020.

On 13 May 2020, Kropz entered into a conditional convertible equity facility of up to US$ 40 million (not exceeding a maximum of ZAR 680 million) ("Equity Facility") with the ARC Fund, the Company's major shareholder. It now expects to make its first draw down of the Equity Facility during the course of the next week.

The Open Offer closing date and the first draw down of the Equity Facility have been extended as the Company continues to face administrative delays in satisfying all the conditions precedent to the Equity Facility.

The revised timetable of principal events is detailed below. The change in timetable does not impact applications already made, which continue to have effect and remain binding. Existing Application Forms can be used in accordance with the revised timetable set out below.

Capitalised terms in this announcement are as defined in the circular posted to shareholders on 1 June 2020.

Revised Expected Timetable of Principal Events

(i)    References to times in the Open Offer Circular are to London time (unless otherwise stated).

(ii)   If any of the details contained in the timetable above should change, the revised times and dates will be notified by means of an announcement through a Regulatory Information Service.

For further information visit www.kropz.com or contact:

About Kropz

Kropz is an emerging African phosphate explorer and developer, with an advanced stage phosphate project in South Africa and a phosphate project 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