Drawdown on Bridge Loan Facility

RNS Number : 5451E

Kropz PLC

28 October 2022

 

28 October 2022

Kropz Plc

("Kropz" or the "Company")

Drawdown on Bridge Loan Facility

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 30 September 2022 that it had entered into a new bridge loan facility of ZAR 126 million (the "September Loan") with its major shareholder, the ARC Fund, to meet immediate cash requirements due to delays in the ramp up of operations at Kropz Elandsfontein (Pty) Ltd.

The first draw down on the September Loan for an amount of ZAR 60.5 million was made on 6 October 2002. The second and final draw down on the September Loan for an amount of ZAR 65.5 million was made today.

Kropz and ARC Fund are currently working on a comprehensive funding structure to finance any further funding requirements in Kropz. The Company will provide further updates in due course.

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

Kropz Plc	Via Tavistock
Mark Summers (CEO)	[phone]
Grant Thornton UK LLP	Nominated Adviser
Samantha Harrison Harrison Clarke George Grainger Ciara Donnelly	[phone]
Hannam & Partners	Broker
Andrew Chubb Ernest Bell	[phone]
Tavistock	Financial PR & IR (UK)
Nick Elwes Jos Simson Emily Moss	[phone] [e-mail]
R&A Strategic Communications	PR (South Africa)
Charmane Russell	[phone] [e-mail]

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.

-ENDS-

 

END

 

 

MSCUWASRUWURUAA