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DRDGOLD LIMITED - Exercise of the option by Sibanye-Stillwater

Release Date: 10/01/2020 09:00
Code(s): DRD     PDF:  
 
Wrap Text
Exercise of the option by Sibanye-Stillwater

DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
NYSE trading symbol: DRD
(“DRDGOLD” or the “Company”)

EXERCISE OF THE OPTION BY SIBANYE-STILLWATER

DRDGOLD shareholders (“Shareholders”) are referred to the circular to Shareholders, dated
26 February 2018 (“Circular”) regarding the acquisition by DRDGOLD of selected surface processing
plants and tailings assets from Sibanye Gold Limited, trading as Sibanye-Stillwater (“Sibanye-
Stillwater”), (the “Transaction”).

DRDGOLD is pleased to advise that, pursuant to the Transaction, on 8 January 2020, Sibanye-
Stillwater exercised the option granted to it to subscribe for such number of new ordinary shares in
the share capital of DRDGOLD (“Shares”) for cash as will result in Sibanye-Stillwater holding in
aggregate 50.1% of all Shares in issue (including treasury shares) (“Option”).

Accordingly, Sibanye-Stillwater will subscribe for 168 158 944 Shares (“Subscription Shares”) at an
aggregate subscription price of R1 085 590 116, on 22 January 2020. The Subscription Shares will be
allotted and issued at a price of R6.46 per Share, being a 10% discount to the 30-day volume
weighted average traded price of a Share on the day immediately prior to the date of exercise of the
Option.

DRDGOLD’s CEO, Niël Pretorius, commented: “Sibanye-Stillwater has been our largest shareholder
for just over 17 months now and its support has been invaluable in the success of our implementation
of the first phase of development of Far West Gold Recoveries. This latest transaction marks the
single largest investment that has ever been made by an individual shareholder in the capital of our
company, and it bears testimony to a shared vision for the future of our enterprise. It will come in very
handy in accelerating the further unlocking of value in DRDGOLD’s business and will go a long way to
fund the early-stage development of Far West Gold Recoveries Phase 2.”


Johannesburg
10 January 2020

Sponsor
One Capital

Date: 10-01-2020 09:00:00
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