Kropz extends open offer deadline 'for the final time'

Kropz announced on Friday that it will extend “for the final time” the latest time and date for receipt of completed application forms and payment under its open offer, or settlement of relevant CREST instructions to 1100 BST on 26 June, from a previous deadline of 1100 BST on Friday.

The AIM-traded firm had entered into a conditional convertible equity facility of up to $40m (£32.31m) with its major shareholder, the ARC Fund, on 13 May.

It said it now expected to make its first draw down of the facility during the next week.

“The open offer closing date and the first draw down of the equity facility have been extended as the company continues to face administrative delays in satisfying all the conditions precedent to the equity facility,” the board said in its statement.