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Kropz PLC (KRPZ)

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Tuesday 19 February, 2019

Kropz PLC

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)

 

+44 (0) 1892 516 232

 

 

 

Nominated Adviser

Grant Thornton UK LLP

Richard Tonthat

Samantha Harrison

Ben Roberts

+44 (0) 20 7383 5100

 

 

Joint Broker

 

Hannam & Partners

 

Andrew Chubb

Ernest Bell

 +44 (0)20 7907 8500

 

 

Joint Broker

Mirabaud Securities Ltd

 

Rory Scott

Edward Haig-Thomas

+44 (0)20 3167 7221

 

 

Financial Public Relations & Investor Relations (UK)

Tavistock

 

Emily Fenton

Gareth Tredway

Jos Simson

+44 (0) 207 920 3150

[email protected]

 

 

Public Relations (South Africa)

Russell & Associates

Charmane Russell

James Duncan

+27 (0)11 880 3924

[email protected]

 

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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