Update on New Convertible Facility Agreement
Updated : 07:00
21 October 2021
Kropz Plc
("Kropz" or the "Company")
Update on New Convertible Facility Agreement
Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, announced on 29 September 2021 that it had entered into a new conditional convertible equity facility of up to ZAR 200 million ("New ZAR Equity Facility"), with ARC Fund ("ARC"), the Company's major shareholder, in order to deliver the Company's Elandsfontein phosphate project to first revenue.
The Company is pleased to report that all conditions precedent to the New ZAR Equity Facility have been met, including relevant consents, and consequently the first drawdown of ZAR90 million of the New ZAR Equity Facility will be made on 26 October 2021.
For further information visit www.kropz.com or contact:
Kropz Plc | |
Mark Summers (CEO) | +27 (0) 79 744 8708 |
Grant Thornton UK LLP | Nominated Adviser |
Samantha Harrison Harrison Clarke George Grainger | +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 Oliver Lamb | +44 (0) 207 920 3150 kropz@tavistock.co.uk |
R&A Strategic Communications | PR (South Africa) |
James Duncan | +27 (0) 11 880 3924 james@rasc.co.za |
About Kropz Plc
Kropz is an emerging African explorer and developer of plant nutrient feed minerals with phosphate 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.
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