IN BRIEF: Kropz Makes Second Quarterly Draw Down Request

Thu, 24th Sep 2020 20:17

Kropz PLC - South Africa-focused plant nutrient feed minerals developer - Says it has made second quarterly draw down request under the equity facility with Kropz's major shareholder, ARC Fund. Second draw down is for USD4 million which will be paid by way of issue of 51 million new ordinary shares at the issue price of 6.75 pence to ARC Fund. The next draw down is expected to be made around December 10 and quarterly thereafter, in line with the terms of the Equity Facility.

Current stock price: 8.5p

Year-to-date change: up 24%

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

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