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Kropz PLC - African phosphate developer - Receieves approval from South African Reserve Bank for new conditional convertible equity facility of up to R 550 million with ARC Fund. ARC Fund is the company’s major shareholder. Says the facility will help ramp-up of operations at the company’s Elandsfontein phosphate project in South Africa, as well as working capital for ‘general corporate purposes’ and further funding for the Hinda project in the Republic of the Congo.
Current stock price: 4.41 pence, up 4.9%
12-month change: down 21%
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