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DRD
DRDD
DRD - DRDGOLD - Notice to holders of ADSS, evidenced by ADRS, regarding a
change in the ADS ratio and a consolidation of the ADRS.
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE trading symbol: DRD
ISIN Code: ZAE 000058723
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the company")
Notice to holders of American Depositary Shares ("ADSs"), evidenced by
American Depositary Receipts ("ADRs"), regarding a change in the ADS ratio and
a consolidation of the ADRs.
Shareholders are referred to the announcement released on SENS on 30 January
2007 in terms of which the company advised that it had received a Nasdaq Staff
Deficiency letter dated 22 January 2007 indicating that the company failed to
comply with the US$1.00 per share Minimum Bid Price Requirement ("the MBPR")
on the Nasdaq Capital Market ("Nasdaq") for continued listing set forth in
Marketplace Rule 4320(e)(2)(E)(ii) ("the Rule") In accordance with the Rule,
the company was provided with 180 calendar days, or until 23 July 2007, to
regain compliance.
As the company`s ADSs have been consistently trading on Nasdaq at a price
below the MBPR, DRDGOLD will be changing its current ADS ratio from one (1)
ADS for one (1) ordinary share to one (1) ADS for ten (10) ordinary shares.
The company has therefore decided to effect a 1:10 reverse stock split (i.e. a
10:1 consolidation) of its ADRs. With effect from the commencement of
business on 23 July 2007, DRDGOLD ADS holders are required on a mandatory
basis to surrender their ADRs for cancellation in order to exchange their
"Old" ADSs (CUSIP #: 26152H 10 3) for the "New" ADSs (CUSIP #: 26152H 30 1).
ADR holders will receive one (1) "New" ADS for every ten (10) "Old" ADSs
surrendered for cancellation. Only whole ADSs will be distributed.
The following trading particulars will apply:
OLD NEW
CUSIP#: 26152H 10 3 26152H 30 1
Ticker Symbol: DROOY DROOD (for 20 trading days)*
Ratio: 1 ADS: 1 ordinary share 1 ADS: 10 ordinary shares
*after 20 trading days, the ticker symbol reverts back to the original ticker,
DROOY*
Holders of ADSs in the Global Buy Direct Plan need not complete the Letter of
Transmittal, as these ADSs will automatically be redeemed and forwarded to the
holders.
Holders of ADSs that require additional clarification should contact the Bank
of New York`s Investor Relations Department at 1-888-BNY-ADRS.
DRDGOLD shareholders holding ordinary shares and trading on the JSE Limited
are not affected in any way by this change to the company`s ADSs and ADRs.
Randburg
20 July 2007
Sponsor
BDO QuestCo (Pty) Limited
Date: 20/07/2007 08:26:36 Produced by the JSE SENS Department.
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