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Dispute Adjudication Board Decision
DRA Global Limited
(Incorporated in Australia under the Corporations Act 2001 (Cth))
ACN 622 581 935
ASX / JSE Share Code: DRA
ISIN: AU0000155814
("DRA" or "the Company")
JSE Sponsor: Pallidus Exchange Services Proprietary Limited
ASX / JSE ANNOUNCEMENT
1 February 2023
DISPUTE ADJUDICATION BOARD DECISION
Unincorporated Joint Venture Comprising DRA Projects SA (Pty) Ltd and Group Five Construction (Pty) Ltd (‘the Contractor’)
–– Nokeng Fluorspar Mine (RF) (Pty) Ltd (‘Nokeng’)
The Board of DRA Global Limited (ASX / JSE: DRA) (‘DRA’ or ‘the Company’) provides an update in respect of current ongoing
disputes between the Contractor and Nokeng, and more particularly in relation to the dispute adjudication board (‘DAB’)
proceedings brought by the Contractor against Nokeng, and in terms of which the adjudicator handed down an adjudication
decision on 31 January 2023.
Adjudication decision
This adjudication decision concludes the DAB proceedings between the parties, and in terms of which Nokeng is obliged to
pay the amount of R95 297 981 (plus interest from 10 May 2022) to the Contractor as a result of the adjudicator finding
that Nokeng wrongfully called the Contractor’s retention money guarantee in October 2019. The adjudication decision is
binding subject to any possible future arbitration proceedings.
Further details about the dispute between the parties are set out in section 9.20.4 of the Company’s IPO prospectus dated
28 May 2021.
Financial impact
The financial impact of the adjudication decision will be reflected in DRA’s FY2022 financial statements.
-- ENDS --
This announcement was approved for release by the Chief Executive Officer of DRA Global Limited.
For further information, please contact:
Investor queries:
Ben Secrett
Group Company Secretary – DRA Global Limited
Ph: +61 8 6163 5900
shareholders@draglobal.com
About DRA Global Limited
DRA Global Limited (ASX: DRA | JSE: DRA) (DRA or the Company) is a multi-disciplinary consulting, engineering, project delivery and
operations management group predominantly focused on the mining and minerals resources sector. DRA has an extensive global track
record, spanning more than three decades and more than 7,500 studies and projects as well as operations, maintenance and optimisation
solutions across a wide range of commodities.
DRA has expertise in mining, minerals and metals processing and related non-process infrastructure including sustainability, water and
energy solutions for the mining industry. DRA delivers advisory, engineering and project delivery services throughout the capital project
lifecycle from concept through to operational readiness and commissioning as well as ongoing operations, maintenance and shutdown
services.
DRA, headquartered in Perth, Australia, services its global customer base through 16 offices across Asia-Pacific, North and South
America, Europe, Middle East and Africa.
Physical Level 8, 256 Adelaide Terrace / Perth WA 6000 / Australia // Postal PO Box 3130 / East Perth WA 6892 / Australia
Telephone +61 (0)8 6163 5900 // info@draglobal.com // ACN 622 581 935 // ASX: DRA / JSE:DRA
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Date: 01-02-2023 07:30:00
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