Update on New Convertible Facility Agreement

RNS Number : 5546O

Kropz PLC

11 October 2021

 

11 October 2021

Kropz Plc

("Kropz" or the "Company")

Update on New Convertible Facility Agreement

Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, announced on 29 September 2021 that it had entered into a new conditional convertible equity facility of up to ZAR 200 million ("New ZAR Equity Facility"), with ARC Fund ("ARC"), the Company's major shareholder, in order to deliver the Company's Elandsfontein phosphate project to first revenue. 

Further to that announcement, the Company is pleased to report that it has now received approval from the South African Reserve Bank ("SARB") for the New ZAR Equity Facility. The New ZAR Equity Facility is also conditional on shareholder approval which, as previously announced, is being sought from the Company's shareholders at a General Meeting to be held in London at 11:30 on 15 October 2021.

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	[phone]
Hannam & Partners	Broker
Andrew Chubb Ernest Bell	[phone]
Tavistock	Financial PR & IR (UK)
Nick Elwes Jos Simson Oliver Lamb	[phone] [e-mail]
R&A Strategic Communications	PR (South Africa)
James Duncan	[phone] [e-mail]

About Kropz Plc

Kropz is an emerging African explorer 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.

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