Drawdown on Equity Facility and Bridge Loan

Kropz PLC

08 December 2023

 

8 December 2023

Kropz Plc

("Kropz" or the "Company")

Drawdown on Convertible Equity Facility and Bridge Loan

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 14 November 2022 that it had entered into a new conditional convertible equity facility of up to ZAR 550 million ("ZAR 550 Million Equity Facility") (approximately US$ 31.6 million), with ARC Fund ("ARC"), the Company's major shareholder.

As announced on 14 September 2023, Kropz had entered into new bridge loan facilities of ZAR 250 million (the "Bridge Loan") with ARC to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.

Final drawdowns on the Bridge Loan for ZAR 20 million and ZAR 7.5 million on the ZAR 550 Million Equity Facility have now been made.

For further information visit www.kropz.com or contact:

Kropz Plc	Via Tavistock
Louis Loubser (CEO)	[phone]
Grant Thornton UK LLP	Nominated Adviser
Samantha Harrison Harrison Clarke Ciara Donnelly	[phone]
Hannam & Partners	Broker
Andrew Chubb Ernest Bell	[phone]
Tavistock	Financial PR & IR (UK)
Nick Elwes Jos Simson Emily Moss	[phone] [e-mail]
R&A Strategic Communications	PR (South Africa)
Charmane Russell Marion Brower	[phone] [e-mail]  [e-mail]

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.

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