Release Date: 29/06/2009 17:51:05 Code(s): DRD
DRD - DRDGOLD - An offer by Drdgold to purchase The South African Business
Assets of Mintails Limited ("Mintails") and cautionary announcement
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
Issuer code: DUSM
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the company")
AN OFFER BY DRDGOLD TO PURCHASE THE SOUTH AFRICAN BUSINESS ASSETS OF MINTAILS
LIMITED ("MINTAILS") AND CAUTIONARY ANNOUNCEMENT
Australian-listed Mintails today conditionally accepted an offer by DRDGOLD to
acquire all of its South African business assets, excluding its interest in
underground explorer West Wits Mining Limited ("WWI") ("the offer"). The offer
is subject to inter alia, the following conditions:-
* The Mintails Board approving in writing the offer terms by 31 July 2009;
* The DRDGOLD Board approving the offer terms by 31 July 2009 after the
conclusion of a legal and financial due diligence;
* Mintails shareholders approving the offer in a general meeting of
shareholders by 31 August 2009;
* DRDGOLD shareholders approving the offer to the extent necessary by 31
August 2009;
* The execution of definitive transaction agreements relating to the offer by
31 August 2009;
* Mintails obtaining all regulatory approvals as stipulated by the
Corporations Act of Australia and the ASX Listing Rules, where applicable,
by 31 October 2009; and
* DRDGOLD obtaining all South African regulatory approvals, by 31 October
2009, where applicable.
The purchase consideration under the offer is determined by the 30 day volume
weighted average price ("VWAP") of Mintails shares over the 30 trading days
terminating on 24 June 2009, less the value of Mintails` holding in WWI based on
the WWI trading VWAP for the same 30 trading days to 24 June 2009. The purchase
consideration is proposed to be discharged through the issue of DRDGOLD shares
at a value also calculated by the 30 trading day VWAP to 24 June 2009.
DRDGOLD views the implementation of the offer as an opportunity to consolidate
and grow the surface mining potential of its Crown Gold Recoveries and Ergo
operations in the Central and East Rand, with that of Mintails in the West Rand.
Cautionary announcement
As certain additional information relating to the offer is not as yet available,
shareholders should exercise caution when trading in their DRDGOLD securities
until a full announcement containing such information is released.
Randburg
29 June 2009
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Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.938M |
Open | High | Low | Value | Volume |
0.4¢ | 0.5¢ | 0.4¢ | $5.956K | 1.221M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
22 | 2906000 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.6¢ | 3547999 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 2906000 | 0.004 |
7 | 7060249 | 0.003 |
3 | 2700000 | 0.002 |
2 | 5500000 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.006 | 3547999 | 6 |
0.007 | 757142 | 3 |
0.008 | 885000 | 3 |
0.009 | 111754 | 1 |
0.011 | 90000 | 1 |
Last trade - 11.01am 14/06/2024 (20 minute delay) ? |
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Last
0.5¢ |
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Change
0.000 ( 25.0 %) |
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Open | High | Low | Volume | ||
0.5¢ | 0.5¢ | 0.5¢ | 1593625 | ||
Last updated 12.29pm 14/06/2024 ? |
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