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Kropz PLC (KRPZ)

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Wednesday 25 March, 2020

Kropz PLC

Covid-19 Update and South African Directive

RNS Number : 4615H
Kropz PLC
25 March 2020
 

25 March 2020

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

Covid-19 Update and South African Directive

Kropz plc (AIM: KRPZ), an emerging African phosphate explorer and developer, notes the directive issued by the South African Government to contain the spread of the Coronavirus involving a 21-day national lockdown, from midnight Thursday, 26 March 2020 to midnight Thursday, 16 April 2020 (the "Directive").

The Directive requires all non-essential business and activities to be suspended, and for people to stay at home. Consequently, all South Africa-based employees of Kropz plc and its subsidiary, Kropz Elandsfontein Pty (Ltd) ("Kropz Elandsfontein") will work from home during the lockdown.

Kropz, along with Kropz Elandsfontein, does not anticipate being adversely impacted by the Directive and the Company will continue to progress all its workstreams as previously outlined. In particular, the Elandsfontein project timetable is not currently affected. In line with the Directive, care and maintenance will continue on site.

As announced on 16 March 2020, the Water Tribunal ("Tribunal") has been postponed. The Company does not expect the Tribunal to be rescheduled until after the Directive has been lifted. Pending the Tribunal's decision, there is no legal impediment to the continuation of the water use activities authorised in the WUL.

Kropz continues to also monitor the situation closely in the Republic of Congo, where the Company's 100% owned Hinda Project is located. The authorities in the Republic of Congo have introduced a number of measures to limit the spread of the virus including the closure of all air, land and maritime borders as of 21 March 2020.

The Company will provide further updates when the information is available.

 

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

Kropz Plc

 

Mark Summers (interim-CEO)

+27 (0)79744 8708

 

 

Grant Thornton UK LLP

Nominated Adviser

Richard Tonthat

Samantha Harrison

Niall McDonald

+44 (0) 20 7383 5100

 

 

Hannam & Partners

Joint Broker

Andrew Chubb

Ernest Bell

 +44 (0)20 7907 8500

 

Mirabaud Securities Ltd

Joint Broker

Rory Scott

Edward Haig-Thomas

+44 (0)20 3167 7220

+44 (0)20 3167 7222

 

 

Tavistock

Financial PR & IR (UK)

Emily Moss

Jos Simson

Oliver Lamb

+44 (0) 207 920 3150

[email protected]

 

R&A Strategic Communications

PR (South Africa)

James Duncan

+27 (0)11 880 3924

[email protected] 

 

About Kropz Plc

Kropz is an emerging African phosphate explorer and developer, with an advanced stage phosphate mining project in South Africa and a phosphate project 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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