|
DURBAN ROODEPOORT DEEP, LIMITED - DRD OFFER FOR EMPEROR GOES UNCONDITIONAL Durban Roodepoort Deep, Limited (Incorporated in the Republic of South Africa) (Registration number 1895/000926/06) (Share code: DUR) (ISIN: ZAE 000015079) (ARBN number: 086 277 616) (NASDAQ Trading Symbol: DROOY) (`DRD`) DRD OFFER FOR EMPEROR GOES UNCONDITIONAL DRD today removed all conditions from its offer to acquire all the shares in Emperor Mines Limited (Emperor). The offer is now unconditional. Last month DRD increased and made final its offer to Emperor shareholders of 5 DRD shares for every 22 Emperor shares held. DRD Chief Executive Officer, Ian Murray, said going unconditional allowed Emperor shareholders who accept the offer to receive their DRD shares within seven days. A majority of the independent directors of Emperor`s board have recommended that shareholders accept DRD`s offer. DRD is presently entitled to 36.5% of the shares in Emperor `We expect the removal of this final condition takes away any uncertainty Emperor shareholders may have regarding our intentions to acquire their shares,` Murray said. `We remain totally committed to adding value to the Vatukoula Gold Mine in Fiji.` Last week DRD raised a R100 million loan facility with Investec Bank Limited, with R40 million of the loan earmarked for any possible capital injection that Emperor may need. The injection is partly dependent on the level of acceptances received under the current takeover offer. Murray said if DRD obtains majority control of Emperor but not full ownership, it will seek to have Emperor raise funds, possibly through a rights issue. The offer remains open until 14 July 2004, unless extended. Johannesburg 6 July 2004 U.S. Disclosures The DRD shares mentioned in this release and offered in the take-over offer have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless they are registered under the U.S. Securities Act or an exemption from the registration requirements of the U.S. Securities Act is available. The offer described in DRD`s Bidder`s Statement dispatched on 13 April 2004 is made for the securities of an Australian company. The offer is subject to disclosure requirements in Australia that are different from those of the United States. Certain financial statements included in the Bidder`s Statement have been prepared in accordance with South African, Australian and/or International Accounting Standards that may not be comparable to the financial statements of United States companies. It may be difficult for Emperor`s shareholders to enforce their rights and any claim they may have arising under the U.S. federal securities laws, since DRD is located in South Africa, and all of its officers and directors are residents of countries other than the United States. Emperor`s shareholders may not be able to sue DRD or its officers or directors in a non- U.S. court for violations of U.S. securities laws. It may be difficult to compel DRD and its affiliates to subject themselves to a U.S. court`s judgment. You should be aware that DRD may purchase securities otherwise than under the offer in DRD`s Bidder`s Statement, such as in the open market or privately negotiated transactions to the extent permitted under Australian law. Queries 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: 06/07/2004 09:19:55 AM Produced by the JSE SENS Department
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||