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DRD - DRDGOLD Limited - DRDGOLD completes second share repurchase

Release Date: 27/06/2012 12:00
Code(s): DRD
Wrap Text

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 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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