Business
Results of GM and Equity Facility Draw Down
Results of GM and Equity Facility Draw Down.
About this update from Kropz Plc
[{"type":"text","content":"\n \n \n RNS Number : 3916O\n Kropz PLC\n 29 May 2020\n \n \n \n 29 May 2020\n \n Kropz Plc\n \n \n (\"Kropz\" or the \"Company\")\n \n \n \n Results of General Meeting and Equity Facility Draw Down\n \n \n Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, is pleased to announce that all the resolutions put to its General Meeting (\"GM\"), held earlier today Friday, 29 May 2020, were duly passed on a poll. A breakdown of proxy votes lodged prior to the GM will be available shortly on the Company's website.\n \n \n \n \n Equity Facility Draw Down\n \n \n \n \n \n As announced on 13 May 2020, Kropz entered into a conditional convertible equity facility of up to US$ 40 million (not exceeding a maximum of ZAR 680 million) with the ARC Fund, the Company's major Shareholder (\"Equity Facility\") which was conditional on, inter alia, passing of the resolutions at today's GM. Once the other conditions to the Equity Facility are satisfied, the Company will make its first quarterly draw down request under the Equity Facility of US$ 8 million. A further announcement will be made in due course in regards to the draw down and the issue of shares as settlement of this tranche which is expected on 10 June 2020.\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\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\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\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\n [email protected] \n \n...