DRD - DRDGOLD Limited - DRDGOLD completes second share repurchase
DRD
DRDD
DRD - DRDGOLD Limited - DRDGOLD completes second share repurchase
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE Share Code: DRD
ISIN: ZAE000058723
Issuer code: DUSM
NYSE trading symbol: DRD
("DRDGOLD" or "Company")
DRDGOLD COMPLETES SECOND SHARE REPURCHASE
DRDGOLD is pleased to announce that today, it completed an on-market repurchase
of 4.4 million DRDGOLD ordinary shares at an average price of R5.67 per share
for a total consideration of approximately R25 million.
To fund the repurchase, the Company used a portion of the proceeds from the
working capital adjustment owed to it by Village Main Reef Limited ("Village"),
following the sale by DRDGOLD of its 74% interest in Blyvooruitzicht Gold Mining
Company Limited to Village.
DRDGOLD CEO Niel Pretorius said the repurchase is consistent with the Company`s
policy to return `windfall` income to its shareholders.
Commenting on the average consideration paid per share, Pretorius said DRDGOLD`s
shares are currently trading well below the average sell-side outlook, which
makes a repurchase a "very attractive option" for returning funds to DRDGOLD
shareholders.
This is the second share repurchase completed by DRDGOLD this year, bringing the
total amount that the Company has re-invested in its market capital to
approximately R58 million.
Johannesburg
27 June 2012
Sponsor
One Capital
Date: 27/06/2012 12:00:01 Produced by the JSE SENS Department.
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