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(Alliance News) - Kropz PLC said Thursday it has raised GBP3.4 million through a placing, which will go towards providing additional working capital and to further advance works at its Hinda and Aflao projects.
Kropz has placed 19.4 million shares at a price of 17.6 pence per share, which represents a discount of 18.5p, the company closing price on Friday last week.
Shares in the African plant nutrient feed minerals producer closed 5.6% lower at 17.00 pence on Thursday.
The placed shares reflect a 6.8% stake in the company's enlarged issued share capital.
Following admission, Kropz will have 283.4 million shares issued overall.