Drawdown on Bridge Loan Facilities
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Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announced on 14 September 2023 that it had entered into new bridge loan facilities of ZAR 250 million (the "Loan") with its major shareholder, the ARC Fund, to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.
The first draw down on the Loan for an amount of ZAR 155 million was made on 18 September 2023. The second draw down on the Loan for an amount of ZAR 75 million was made on 20 October 2023.
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