Update on offer for Cominco, Issue of Shares & TVR

RNS Number : 4129Q

Kropz PLC

19 February 2019

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.

19 February 2019

Kropz Plc

("Kropz" or the "Company")

Update on offer for Cominco Resources Limited ("Cominco"), Issue of Shares and Total Voting Rights

Kropz Plc (AIM: KRPZ), an emerging African producer of plant nutrient feed minerals, is pleased to announce that, further to its announcement on 3 December 2018, it has applied the provisions of section 176 of the BVI Business Companies Act 2004 to compulsorily redeem any outstanding ordinary shares of Cominco ("Cominco Shares") held by the remaining Cominco Shareholders ("Compulsory Redemption").

Pursuant to the Compulsory Redemption, Kropz has acquired the remaining 482,927 Cominco Shares for which a further 803,315 Ordinary Shares of Kropz will be issued, conditional on admission to trading on AIM. Application will be made for these additional 803,315 Ordinary Shares to be admitted to trading on AIM with admission expected at 8am (London time) on 22 February 2019.

Following the issue of the further consideration shares, the total number of Ordinary Shares will be 264,041,648. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

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

Kropz Plc
Ian Harebottle (CEO)	[phone]
Nominated Adviser
Grant Thornton UK LLP
Richard Tonthat Samantha Harrison Ben Roberts	[phone]
Joint Broker
Hannam & Partners
Andrew Chubb Ernest Bell	[phone]
Joint Broker
Mirabaud Securities Ltd
Rory Scott Edward Haig-Thomas	[phone]
Financial Public Relations & Investor Relations (UK)
Tavistock
Emily Fenton Gareth Tredway Jos Simson	[phone] [e-mail]
Public Relations (South Africa)
Russell & Associates
Charmane Russell James Duncan	[phone] [e-mail]

About Kropz Plc

Kropz is an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and an exploration asset in Ghana. 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.

Kropz's Elandsfontein Phosphate Project is a near-term producing asset in South Africa's Western Cape Province, close to export infrastructure and primed to take advantage of a recovery in phosphate prices.

The Company's medium-term development asset is the Hinda Phosphate Project in the RoC.

The Company has also secured a prospecting right in Ghana, to undertake further exploration work on the Aflao Project, the potential extension of the well-known, high grade and historically exploited Hahotoe-Kpogame-Kpeme deposit in Togo.

ENDS

 

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