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DRD
DRDD
DRD - DRDGold - Emperor announces completion of sell down of DRDGold
shareholding
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE trading symbol: DRD
ISIN Code: ZAE000058723
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the company")
EMPEROR ANNOUNCES COMPLETION OF SELL DOWN OF DRDGOLD SHAREHOLDING
An extract from an announcement released today by Emperor Mines Limited
("Emperor"), a 78.72% indirect subsidiary of DRDGOLD listed on the ASX Limited,
is set out below.
"Emperor today announced that it has taken a major step towards completing its
merger with Intrepid Mines Limited ("Intrepid"), following the successful sale
of DRDGOLD`s shareholding in Emperor to a range of domestic and international
institutions and sophisticated investors ("the sell down").
On 18 September 2007, Emperor announced that DRDGOLD intended to offer its
shareholding in Emperor for sale, and that the merger with Intrepid was
conditional upon the successful completion of this sale. DRDGOLD engaged ABN
AMRO Morgans and Tricom Equities ("the brokers"), to conduct the sale to
professional and sophisticated investors. The brokers commenced a book build
following the lodgement of an offer prospectus by DRDGOLD on Thursday 18
October.
The institutional book build was completed within 24 hours and was
oversubscribed, with strong support from a range of international and domestic
institutions and high net worth clients of ABN AMRO Morgans and Tricom. The
placement price achieved was A$0.068 cents per share.
Importantly, the sell down will introduce more than 20 new institutional
investors onto the Emperor register, and will considerably increase Emperor`s
free-float and liquidity. On completion, there will be no shareholder in Emperor
holding more than 15% of the equity in Emperor. The settlement of the placement
is expected to occur before the end of October 2007."
A further announcement by DRDGOLD setting out the financial effects of the sell
down will be released as soon as possible.
The full text of the announcement by Emperor which sets out further information
relating to its merger with Intrepid can be found on the Emperor web site
www.emperor.com.au.
Randburg
22 October 2007
Sponsor
BDO QuestCo (Pty) Limited
Date: 22/10/2007 10:45:01 Produced by the JSE SENS Department.
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