Drawdown on Bridge Loan and BNP Loan Update
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.
03 April 2024
Kropz Plc
("Kropz" or the "Company")
Drawdown on Bridge Loan Facilities
and
BNP loan facility agreement update
Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 27 March that it had entered into a new bridge loan facility of ZAR 170 million (the "Loan") with its major shareholder, the ARC Fund, to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.
The second draw down on the Loan for an amount of ZAR 73 million has been made.
BNP loan facility agreement update
As previously announced, the Company is in the process of refinancing the BNP loan facility (outstanding amount US$ 11 250 000). BNP has extended its waiver period to 30 June 2024. A replacement loan is expected to be in place by the second quarter of 2024.
For further information visit www.kropz.com or contact:
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Kropz Plc |
Via Tavistock |
|
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
|
+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) |
|
Nick Elwes Jos Simson |
+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 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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