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LONDON - Kropz Plc (AIM:KRPZ), an African phosphate producer and developer, announced Tuesday that a legal stay in its ongoing litigation with Teh Hong Eng Investments Holding Limited (THE) and Meridian Investment Group PTE. Limited has been extended until December 31, 2025.
The dispute stems from an alleged breach of THE’s right of first refusal to acquire shares in Kropz’s subsidiary, Cominco Resources Limited, during Kropz’s November 2018 acquisition of Cominco’s entire issued and to-be-issued share capital.
The legal proceedings began on February 26, 2025, when THE and Meridian served Particulars of Claim in the English High Court, naming both Kropz and Cominco as defendants. An initial legal stay was announced on May 21, 2025, which was set to expire this month.
The company stated in its press release that further updates will be provided if necessary.
Kropz describes itself as an emerging phosphate producer with projects in South Africa and the Republic of Congo, aiming to become an independent phosphate rock producer focused on sub-Saharan Africa.
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