Kropz PLC Drawdown on Bridge Loan and BNP Loan Update
April 03 2024 - 11:22AM
RNS Regulatory News
RNS Number : 2108J
Kropz PLC
03 April 2024
The information contained within
this announcement is deemed to constitute inside information as
stipulated under the retained EU law version of the Market Abuse
Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018. The information
is disclosed in accordance with the Company's obligations under
Article 17 of the UK MAR. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
03 April 2024
Kropz Plc
("Kropz" or the
"Company")
Drawdown on Bridge Loan
Facilities
and
BNP loan facility agreement
update
Kropz Plc (AIM: KRPZ), an emerging
African phosphate producer and developer, announced on
27 March that it had entered into a new bridge loan facility
of ZAR 170 million (the "Loan") with its major shareholder, the
ARC Fund, to meet immediate cash requirements at Kropz
Elandsfontein (Pty) Ltd.
The second draw down on the Loan for
an amount of ZAR 73 million has been made.
BNP
loan facility agreement update
As previously announced, the Company
is in the process of refinancing the BNP loan facility (outstanding
amount US$ 11 250 000). BNP has extended its waiver period to 30
June 2024. A replacement loan is expected to be in place by the
second quarter of 2024.
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
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
|
+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 and developer 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-
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