DRD
DRDD
DRDGOLD Limited - 6% Senior convertible notes repaid in full
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
ARBN 086 277 616
JSE trading symbol: DRD
ISIN Code: ZAE000058723
Issuer code: DUSM
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the company")
6% SENIOR CONVERTIBLE NOTES REPAID IN FULL
DRDGOLD announced today that it has repaid in full its outstanding 6%
Senior Convertible Notes due 2006.
DRDGOLD had raised the money in November 2002 for new acquisitions and
capital expansion programmes.
The most significant of these were:
- the initial purchase of a 19.9% stake in Emperor Mines, which
subsequently led to the creation of the third-largest ASX listed gold
producer. DRDGOLD"s holding in Emperor Mines is now 78.72%.
- the building of a new surface plant at DRDGOLD South Africa"s
Blyvooruitzicht operation, enabling it to re-process vast surface
resources. The new surface plant is producing around 30 000 oz of gold
annually at below US$300/oz.
By repaying the Notes in cash, DRDGOLD has also lowered its fully diluted
share capital by 17.6m shares, the underlying equity of the original Notes.
The aggregate principal amount of the Notes is US$66 million, plus the
accrued original issue discount and interest.
DRDGOLD paid a total of US$69 630 000 to the holders of the Notes from cash
reserves and borrowing facilities when they matured on 12 November 2006.
DRDGOLD"s obligations under the Notes have now been satisfied and
discharged.
Statements in this announcement may include forward-looking statements
within the meaning of the Securities Act and the Exchange Act. Such forward
looking statements are subject to certain risks and uncertainties, as
disclosed by DRDGOLD from time to time in its filings with the Securities
and Exchange Commission. As a result of these factors, DRDGOLD"s actual
results may differ materially from those indicated or implied by such
forward-looking statements. For further information, please contact Ilja
Graulich, head of Investor Relations, at +27 11 219 8700.
Johannesburg
16 November 2006
Sponsor
Standard Bank
Date: 16/11/2006 03:43:10 PM Produced by the JSE SENS Department
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