Business
Equity Facility Draw Down Update
Equity Facility Draw Down Update.
About this update from Kropz Plc
[{"type":"text","content":"\n \n \n RNS Number : 5782P\n Kropz PLC\n 10 June 2020\n \n \n \n \n The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n 10 June 2020\n \n Kropz Plc\n \n \n (\"Kropz\" or the \"Company\")\n \n \n \n \n Equity Facility Draw Down Update\n \n \n \n \n \n Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, advises that, further to the announcements on 13 and 29 May 2020, where Kropz entered into a conditional convertible equity facility of up to US$ 40 million (not exceeding a maximum of ZAR 680 million) (\"Equity Facility\") with the ARC Fund, the Company's major shareholder, it now expects to make its first draw down of the Equity Facility during the next week.\n \n \n \n \n Following the passing of the required resolutions at the Company's General Meeting on 29 May 2020, the first drawn down was expected to take place on 10 June 2020. The slight postponement is due to administration delays in satisfying all of the conditions precendent to the Equity Facility.\n \n \n \n \n \n For further information visit\n www.kropz.com\n or contact:\n \n \n \n \n Kropz Plc\n \n \n \n \n \n \n \n Mark Summers (Interim CEO)\n \n \n +27 (0)79 744 8708\n \n \n \n \n \n \n \n \n \n \n \n \n Grant Thornton UK LLP (\"GT\")\n \n \n Nominated Adviser\n \n \n \n \n Richard Tonthat\n Samantha Harrison\n Niall McDonald\n \n \n +44 (0)20 7383 5100\n \n \n \n \n \n \n \n \n \n \n \n \n Hannam & Partners (\"H&P\")\n \n \n Joint Broker\n \n \n \n \n Andrew Chubb\n Ernest Bell\n \n \n +44 (0)20 7907 8500\n \n \n \n \n \n \n \n \n \n Mirabaud Securities Ltd (\"Mirabaud\")\n \n \n Joint Broker\n \n \n \n \n Rory Scott\n Edward Haig-Thomas\n \n \n +44 (0)20 3167 7220\n +44 (0)20 3167 7222\n \n \n \n \n \n \n \n \n \n \n \n \n Tavistock\n \n \n Financial PR & IR (UK)\n \n \n \n \n Emily Moss\n Jos Simson\n Oliver Lamb\n \n \n +44 (0)20 7920 3150\n [email protected]\n \n \n \n \n \n \n \n \n \n R&A Strategic Communications\n \n \n PR (South Africa)\n \n \n \n \n James Duncan\n \n \n +27 (0)11 880 3924\...