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DURBAN ROODEPOORT DEEP LTD - DRD WELCOMES EMPEROR`S RECOMMENDATION OF FINAL
OFFER
Durban Roodepoort Deep, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE Share code: DUR
ISIN: ZAE000015079
ARBN number: 086 277 616
NASDAQ Trading Symbol: DROOY
(`DRD`)
DRD WELCOMES EMPEROR`S RECOMMENDATION OF FINAL OFFER
Chief Executive Officer of DRD, Ian Murray, has welcomed a decision by a
majority of the independent directors of the Emperor Mines Limited (`Emperor`)
board to recommend to shareholders that they accept DRD`s final, revised offer
for the company.
DRD announced that it will increase its bid for Emperor to five DRD shares for
every 22 Emperor shares it does not already own.
The agreed offer represents an increase of 14% over DRD`s previous offer. DRD`s
previous offer represented a 32% premium over the price at which Emperor was
trading prior to the announcement of the offer on 8 March 2004.
`We believe our original offer was fair based on Emperor`s share price tracking
the offer since the bid was launched. This new offer reflects our strong
intention to proceed with the full takeover and add value to the Vatukoula Gold
Mine in Fiji,` Murray said.
DRD has decided to waive all but one of the conditions to the offer. The
remaining minimum acceptance condition of 90% will be waived and the offer will
become fully unconditional upon DRD becoming entitled to at least 50.1% of the
total Emperor shares on issue.
DRD has also decided to:
* shorten the time for payment of the offer consideration to accepting
shareholders to within seven days after its offer becomes unconditional, or
after acceptance of the offer, whichever is the latter; and
* extend the offer period so that it will expire at 7pm (Sydney time) on
Wednesday, 14 July 2004, unless extended in accordance with the
Corporations Act.
The documentation concerning these changes will be sent to Emperor shareholders
shortly.
Johannesburg
10 June 2004
QUERIES
DRD
Ian Murray
Chief Executive Officer
O424 244 195 (within Australia) or
+27 82 441 4090 (from within South Africa and overseas)
CIBC World Markets (financial advisor)
Neil Johnson
Managing Director
CIBC World Markets
+61 2 9275 1301 (office)
+61 419 924 784 (mobile)
South Africa
Investor and Media Relations
Ilja Graulich, Durban Roodepoort Deep, Limited
+27 11 381 7826 (office)
+27 83 604 0820 (mobile)
James Duncan, Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)
Australasia
Investor and Media Relations
Paul Downie, Porter Novelli
+61 893 861 233 (office)
+61 414 947 129 (mobile)
United Kingdom/Europe
Investor and Media Relations
Phil Dexter, St James`s Corporate
+44 20 7499 3916 (office)
+44 779 863 4398
North America
Investor Relations
Susan Borinelli, Breakstone & Ruth International
+1 646-536-7018 (office)
+1 917-570-8421 (mobile)
Media Relations
Jessica Anderson, Breakstone & Ruth International
+1 646-536-7002 (office)
+1 347-423-5859 (mobile)
Date: 10/06/2004 11:01:05 AM
Produced by the JSE SENS Department
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