Kropz Plc Regulatory News (KRPZ)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

29 June 2020

Kropz Plc

("Kropz" or the "Company")

Results of Open Offer

Kropz Plc (AIM: KRPZ), announces the results of its Open Offer, which was announced on 1 June 2020 and closed for acceptances, in accordance with its terms, at 11.00 a.m. on 26 June 2020.

The Company announces that it has received valid acceptances and excess applications from Qualifying Shareholders for a total of 25,849,920 Open Offer Shares, amounting to approximately 50.7 per cent., pursuant to the terms of the Open Offer. Consequently, all excess applications have been accepted and allotted in full and the Company has raised gross proceeds of approximately £1.74 million.

Director's Participation in the Open Offer

Mark Summers, Interim CEO, has subscribed for 50,000 Open Offer shares and his beneficial interest following this subscription is set out below.

Details on this subscription are included at the end of this announcement in accordance with the requirements of the EU Market Abuse Regulation.

ARC Subscription and Shareholding

As previously announced, ARC Fund, Kropz's major shareholder, subscribed for 25,481,482 Open Offer Shares (equal to approximately US$ 2 million) under the Open Offer which has been accepted and allocated in full. ARC Fund will be directly interested in 295,281,998 ordinary shares of the Company representing 66.51 per cent. of the issued share capital following issue of the Open Offer Shares.

In addition, ARC Fund holds call options over certain shares held by Kropz International S.a.r.l as set out in the announcement on 13 May 2020.

Admission to Trading on AIM and Total Voting Rights

Application has been made for the 25,849,920 Open Offer Shares, which will rank pari passu with the Company's issued Ordinary Shares, to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the Open Offer Shares will commence at 8.00 a.m. on 30 June 2020.

On Admission, the Company's issued share capital will consist of 443,960,891 ordinary shares with voting rights. There are no shares held in treasury. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. 

Capitalised terms used but not otherwise defined in this announcement bear the meanings ascribed to them in the circular of the Company dated 1 June 2020.

For further information visit www.kropz.com or contact:

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.

PDMR Notification made in accordance with the requirements of the EU Market Abuse Regulation.

ENDS