| Fri 14 Jan 2011, 15:42 | | DRD - DRDGold Limited - DRDGold Restructures Re-Names to separate surface |
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DRD
DRDD
DRD - DRDGold Limited - DRDGold Restructures, Re-Names to separate surface
Retreatment and underground mining interests
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 RESTRUCTURES, RE-NAMES TO SEPARATE SURFACE RETREATMENT AND UNDERGROUND
MINING INTERESTS
Johannesburg, South Africa, 14 January 2011: DRDGOLD Limited (JSE: DRD; NASDAQ:
DROOY) has announced a change in its group structure in order to better
distinguish between its surface retreatment and underground operations.
In terms of this restructuring:
* operating subsidiary DRDGOLD South African Operations (Proprietary) Limited
("DRDGOLD SA"), which is 74% held by DRDGOLD Limited, 20% by Khumo Gold SPV
(Proprietary) Limited ("Khumo Gold") and 6% by the DRDSA Empowerment Trust
("the Trust") , has changed its name to Ergo Mining Operations
(Proprietary) Limited, which now controls Ergo Mining (Proprietary)
Limited, Crown Gold Recoveries (Proprietary) Limited and East Rand
Proprietary Mines Limited each of which is surface retreatment operations.
* Blyvooruitzicht Gold Mining Company Limited, primarily an underground
mining operation previously held 100% by DRDGOLD SA, is now directly held
by DRDGOLD Limited (74%), Khumo Gold (20%) and the Trust (6%).
Commenting on the changes, DRDGOLD Limited Chief Executive Officer Niel
Pretorius said: "We believe this is a move towards placing two quite different
sets of assets under separate brands, in order to ultimately provide separate
investment opportunities for two distinct investor types."
Roodepoort
14 January 2011
Sponsor
One Capital
Date: 14/01/2011 15:42:01 Produced by the JSE SENS Department.
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