Drawdown On New Convertible Equity Facility

RNS Number : 6625K

Kropz PLC

22 December 2022

 

22 December 2022

Kropz Plc
("Kropz" or the "Company")

Drawdown On New Convertible Equity Facility

Kropz plc (AIM: KRPZ) is pleased to confirm that today it has made its second draw down request under the new ZAR 550 million convertible equity facility from the Company's largest shareholder, ARC Fund ("ZAR 550 Million Equity Facility") , as announced on 14 November 2022 .

The second draw down is for ZAR 135 million (approximately US$ 7.9 million). ZAR 107.5 million remains available for drawdown over the term of the ZAR 550 Million Equity Facility.

The next draw down of the ZAR 550 Million Equity Facility is expected to be made on or about 23 January 2023 and monthly thereafter, if required, in line with the terms of the ZAR 550 Million Equity Facility.

ARC Fund has the right, at any time, to convert any outstanding amount under the ZAR 550 Million Equity Facility into new ordinary shares in Kropz Plc.

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

Kropz Plc
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-

 

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