Kropz PLC Results of GM and Equity Facility Draw Down (3916O)
May 29 2020 - 5:48AM
UK Regulatory
TIDMKRPZ
RNS Number : 3916O
Kropz PLC
29 May 2020
29 May 2020
Kropz Plc
("Kropz" or the "Company")
Results of General Meeting and Equity Facility Draw Down
Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer
and developer, is pleased to announce that all the resolutions put
to its General Meeting ("GM"), held earlier today Friday, 29 May
2020, were duly passed on a poll. A breakdown of proxy votes lodged
prior to the GM will be available shortly on the Company's
website.
Equity Facility Draw Down
As announced on 13 May 2020, Kropz entered into a conditional
convertible equity facility of up to US$ 40 million (not exceeding
a maximum of ZAR 680 million) with the ARC Fund, the Company's
major Shareholder ("Equity Facility") which was conditional on,
inter alia, passing of the resolutions at today's GM. Once the
other conditions to the Equity Facility are satisfied, the Company
will make its first quarterly draw down request under the Equity
Facility of US$ 8 million. A further announcement will be made in
due course in regards to the draw down and the issue of shares as
settlement of this tranche which is expected on 10 June 2020.
For further information visit www.kropz.com or contact:
Kropz Plc
Mark Summers (Interim CEO) +27 (0)79 744 8708
Grant Thornton UK LLP Nominated Adviser
Richard Tonthat
Samantha Harrison
Niall McDonald +44 (0)20 7383 5100
Hannam & Partners Joint Broker
Andrew Chubb
Ernest Bell +44 (0)20 7907 8500
Mirabaud Securities Ltd Joint Broker
Rory Scott +44 (0)20 3167 7220
Edward Haig-Thomas +44 (0)20 3167 7222
Tavistock Financial PR & IR (UK)
Emily Moss +44 (0)20 7920 3150
Jos Simson kropz@tavistock.co.uk
Oliver Lamb
R&A Strategic Communications PR (South Africa)
James Duncan +27 (0)11 880 3924
james@rasc.co.za
About Kropz
Kropz is an emerging African phosphate explorer and developer,
with an advanced stage phosphate project in South Africa and a
phosphate project 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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END
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