Kropz PLC Update on New Convertible Facility Agreement (5546O)
11 October 2021 - 5:00PM
UK Regulatory
TIDMKRPZ
RNS Number : 5546O
Kropz PLC
11 October 2021
11 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.
Further to that announcement, the Company is pleased to report
that it has now received approval from the South African Reserve
Bank ("SARB") for the New ZAR Equity Facility. The New ZAR Equity
Facility is also conditional on shareholder approval which, as
previously announced, is being sought from the Company's
shareholders at a General Meeting to be held in London at 11:30 on
15 October 2021.
For further information visit www.kropz.com or contact:
Kropz Plc
+27 (0) 79
Mark Summers (CEO) 744 8708
Grant Thornton UK LLP Nominated Adviser
Samantha Harrison
Harrison Clarke +44 (0) 20
George Grainger 7383 5100
Broker
Hannam & Partners
Andrew Chubb +44 (0) 20
Ernest Bell 7907 8500
Tavistock Financial PR
& IR (UK)
Nick Elwes +44 (0) 207
Jos Simson 920 3150
Oliver Lamb 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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