KRPZ Kropz Plc

TIDMKRPZ

RNS Number : 7397P

Kropz PLC

21 October 2021

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 
                                 +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 
 
 Hannam & Partners               Broker 
 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.

-ENDS-

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