DRD - Drdgold - Blyvoor sale agreement to lapse - Aurora to consider making a
DRD
DRDD
DRD - Drdgold - Blyvoor sale agreement to lapse - Aurora to consider making a
new offer
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
Issuer code: DUSM
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the Company")
BLYVOOR SALE AGREEMENT TO LAPSE - AURORA TO CONSIDER MAKING A NEW OFFER
DRDGOLD and Aurora Empowerment Systems (Proprietary) Limited ("Aurora") have
decided to allow the agreement relating to Aurora`s proposed acquisition of 60%
of DRDGOLD`S 74%-held subsidiary, Blyrvooruitzicht Gold Mining Limited,
("Blyvoor"), to lapse.
Blyvoor has returned to profitability while under judicial management. The
Company has therefore agreed to extend to Aurora a one month exclusivity period
(lapsing on 30 April 2010), during which time Aurora may revise its valuation of
Blyvoor in order to decide, with due consideration to its ability to secure the
appropriate funding, whether it wishes to make an alternative offer in respect
of Blyvoor.
DRDGOLD has agreed, for the duration of the exclusivity period, not to solicit
any offers from third parties, nor to accept any offer for Blyvoor unless Aurora
has been given an opportunity to match such an offer. DRDGOLD and Aurora
management have undertaken to continue to seek opportunities to develop a
relationship of support and co-operation between the two groups.
Blackheath
1 April 2010
Date: 01/04/2010 12:30:01 Produced by the JSE SENS Department.
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