27 February 2023
Kropz Plc
("Kropz" or the "Company")
Drawdown On New Convertible Equity Facility
Kropz Plc (AIM: KRPZ) is pleased to confirm that it has made its fourth drawdown request under the new ZAR 550 million convertible equity facility from the Company's largest shareholder, ARC Fund ("ZAR 550 Million Equity Facility"), as announced on 14 November 2022.
The fourth drawdown is for ZAR 40 million (approximately US$ 2.2 million). ZAR 7.5 million remains available for drawdown over the term of the ZAR 550 Million Equity Facility.
The next drawdown of the ZAR 550 Million Equity Facility is expected to be made on or about 23 March 2023 in line with the terms of the ZAR 550 Million Equity Facility.
ARC Fund has the right, at any time, to convert any outstanding amount under the ZAR 550 Million Equity Facility into new ordinary shares in Kropz Plc.
For further information visit www.kropz.com or contact:
|
Kropz Plc |
Via Tavistock |
|
Louis Loubser (CEO) |
+44 (0) 207 920 3150 |
|
Grant Thornton UK LLP |
Nominated Adviser |
|
Samantha Harrison Harrison Clarke George Grainger Ciara Donnelly |
+44 (0) 20 7383 5100 |
|
Hannam & Partners |
Broker |
|
Andrew Chubb Ernest Bell |
+44 (0) 20 7907 8500 |
|
Tavistock |
Financial PR & IR (UK) |
|
Nick Elwes Jos Simson Emily Moss |
+44 (0) 207 920 3150 kropz@tavistock.co.uk |
|
R&A Strategic Communications |
PR (South Africa) |
|
Charmane Russell Marion Brower |
+27 (0) 11 880 3924 charmane@rasc.co.za marion@rasc.co.za |
About Kropz Plc
Kropz is an emerging African phosphate producer with 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.
-ENDS-