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Kropz PLC on Friday said it is planning to raise an aggregate £917,431 through a conditional subscription and a retail offer to fund its short-term capital needs. The fundraising will see new shares being issued at 1.15 pence each, a 5% discount to the monthly weighted average, in a subscription and retail offer. The fundraising comes as the company said it was unable to move funds from Kropz Elandsfontein Ltd in a timely manner to fund ongoing expenses ‘due to regulatory requirements around the transfer of funds in South Africa’. The ARC fund has agreed to subscribe in cash to the entire amount of the subscription and the retail shares not taken up by other shareholders, the company said. This ensures that the entire amount of the fundraising will be £917,431. Kropz will issue a combined amount of 79.8 million new shares which are expected to begin trading on March 26. It also said it Elandsfontein phosphate deposit in South Africa achieved a phosphate concentrate production of 38,970 tonnes in December, a new record, and sales of of 35,580 tonnes in the same month. Shares in Kropz closed down 10% at 1.30 pence each in London on Friday. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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