-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Pign4PTJgr52PGyoSPkedp5QhLWKc28aJsSWxuXxurROQJJKr2Hqsw/bX1peD/sq 84a1a9kEmVjQ2nh+Tsxkxw== 0001047469-03-029030.txt : 20030827 0001047469-03-029030.hdr.sgml : 20030827 20030827134929 ACCESSION NUMBER: 0001047469-03-029030 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20030827 FILED AS OF DATE: 20030827 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DURBAN ROODEPOORT DEEP LTD CENTRAL INDEX KEY: 0001023512 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 000000000 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28800 FILM NUMBER: 03868124 BUSINESS ADDRESS: STREET 1: 5 PRESS AVE STREET 2: SELBY CITY: JOHANNESBURG, SOUTH STATE: T3 ZIP: 00000 6-K 1 a2117883z6-k.htm 6-K
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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of August 2003

Commission File Number: 0-28800

Durban Roodepoort Deep, Limited
(Translation of registrant's name into English)

45 Empire Road, Parktown, Johannesburg South Africa, 2193
(Address of principal executive offices)

        Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F X             Form 40-F.........

        Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):             

        Note:    Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

        Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

        Note:    Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

        Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes.....            No X

        If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-             




        Attached to the Registrant's Form 6-K filing for the month of August 2003, and incorporated by reference herein, are:

Exhibit No.

  Description
1.   News Release, dated August 18, 2003, entitled "DRD joins prestigious Philadelphia Gold Index."
2.   News Release, dated August 18, 2003, entitled "DRD and NUM reach 24-month wage settlement."
3.   Release, dated August 25, 2003, entitled "Option Agreement."
4.   Release entitled "North West Closure Review—Update."

2



SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

    DURBAN ROODEPOORT DEEP, LIMITED

 

 

By:

/s/  
IAN MURRAY      
Ian Murray
Chief Financial Officer
Deputy Chief Executive Officer

Dated: August 27, 2003

3




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SIGNATURES
EX-1 3 a2117883zex-1.htm EXHIBIT 1
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Exhibit 1

         GRAPHIC

18 August 2003

240/03-ig

For immediate release


DRD joins prestigious Philadephia Gold Index

        With effect from today, the shares of South African gold producer, Durban Roodepoort Deep, Ltd. "DRD" (Ticker Symbol: JSE: DUR; NASDAQ: DROOY) have been included as a constituent of the benchmark Philadelphia Gold and Silver Index (the XAU).

        DRD will join fellow South African gold producers AngloGold, Gold Fields and Harmony in the index.

        Chairman and CEO, Mark Wellesley-Wood said; "The inclusion of DROOY in this index recognizes the stock's appeal to the North American investment market, as well as its exceptional liquidity. The move will also broaden our investor base and help us attract future gold investors.

Queries:   Ilja Graulich
Durban Roodepoort Deep, Limited
+27 11 381 7800 / 7826 (office)
+27 83 604 0820 (mobile)



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DRD joins prestigious Philadephia Gold Index
EX-2 4 a2117883zex-2.htm EXHIBIT 2
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Exhibit 2

         GRAPHIC

18 August 2003

239/03-ig

For immediate release


DRD and NUM reach 24-month wage settlement

        Gold miner Durban Roodepoort Deep, Limited (DRD) today (18 August 2003) reached agreement on a 24-month wage deal with the National Union of Mineworkers (NUM) and flagged its intention to introduce an employee equity participation scheme.

        DRD has granted its employees an average increase in basic wages in year one for category 3- 8 employees of 11,5% at its Blyvoor and Buffelsfontein operations, while it's Hartebeestfontein operation—part of the North West group of mines, and currently subject to a 60-day review—has received a staggered increase of 7,3% as of 1 July 2003 plus an extra 2% given in January 2004.

        The wage offer ensures a R 2000.00 minimum wage for all surface workers as of July 2004, while the R 2000.00 minimum for underground workers has already been achieved.

        Responding to calls from NUM for greater equity participation, DRD is working with a South African bank to develop a share ownership scheme that will ensure no untoward risk for employees.

Queries:   Ilja Graulich
Durban Roodepoort Deep, Limited
+27 11 381 7800 / 7826 (office)
+27 83 604 0820 (mobile)



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DRD and NUM reach 24-month wage settlement
EX-3 5 a2117883zex-3.htm EXHIBIT 3
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Exhibit 3

Durban Roodepoort Deep, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
(Share code: DUR)
(ISIN: ZAE 000015079)
(ARBN number 086 277 616)
(NASDAQ Trading Symbol: DROOY)
("DRD" or "the company")

OPTION AGREEMENT

1.
INTRODUCTION

    DRD has entered into an agreement with Investec Group ("Investec") which grants Investec an option to acquire 18 million new, fully paid up DRD ordinary shares ("the option").

2.
TRANSACTION DESCRIPTION

    The option is an American style call option with a strike price in US Dollars equal to 95% of the trade-weighted average price of DRD American Depository Receipts ("ADRs") trading on NASDAQ for the 30 days prior to exercise date. The option carries an expiration date of 3 October 2003.

3.
RATIONALE FOR THE TRANSACTION

    On the assumption that the option is exercised, DRD will apply the proceeds arising from the exercise of the option towards its general corporate funding requirements.

4.
PRO FORMA FINANCIAL EFFECTS

    To assist shareholders to assess the impact of the new issue of shares in the event of exercise of the option, set out below is the pro forma effects on earnings, headline earnings, net asset value and tangible net asset value per DRD ordinary share. The material assumptions are set out following the table. The pro forma does not constitute a representation of the future financial position of DRD should the option be exercised.

 
  Before the
exercise of the
option
(cents)

  After the exercise
of the option
(cents)

  Change
(%)

Earnings per share   201.5   198.3   -2
Headline earnings per share   199.0   196.1   -1
Net asset value per share   251.0   397.8   58
Tangible net asset value per share   251.0   397.8   58

Notes:

1.1.
The earnings and headline earnings per share in the "Before the exercise of the option" column of the table are based on the reviewed income statement of DRD for the financial year ended 30 June 2003.

2.2.
The earnings and headline earnings per share in the "After the exercise of the option" column of the table are based on 202 091 466 shares in issue, being the weighted average number of shares in issue for the year, and the assumptions that

the option was exercised on 1 July 2002;

the 30-day trade-weighted average price of DRD ADRs on NASDAQ at that date equated to R20 per DRD ADR; and

    the cash raised on issue of DRD shares pursuant to the exercise of the option earned interest at a rate of 12.5%, which interest attracted South African normal tax at a rate of 30%.

3.
The net asset value per share and tangible net asset value per share in the "Before the exercise of the option" column of the table are based on the reviewed balance sheet of DRD at 30 June 2003.

4.
The net asset value per share and tangible net asset value per share in the "After the exercise of the option" column of the table are based on 202 222 073 shares in issue and the assumptions that:

the option was exercised on 30 June 2003; and

the 30-day trade-weighted average price of DRD ADRs on NASDAQ at that date equated to R20 per DRD ADR.

5.
NO APPROVALS REQUIRED FOR THE TRANSACTION

        The entry by DRD into the option agreement and any exercise of the option will not require shareholder approval.

Johannesburg
25 August 2003

Financial adviser
Questco Investments (Proprietary) Limited
(Registration number 2002/005616/07)

Sponsor
Standard Corporate and Merchant Bank
(A division of The Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)

2





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EX-4 6 a2117883zex-4.htm EXHIBIT 4
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Exhibit 4

Durban Roodepoort Deep, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
(Share code: DUR)
(ISIN: ZAE 000015079)
(ARBN number 086 277 616)
(NASDAQ Trading Symbol: DROOY)
("DRD" or "the company")

North West Closure Review—Update

        Management of Durban Roodepoort Deep, Limited today unveiled its plan to avoid the closure of the company's North West Operations.

        The proposal comes just a month into a 60-day review of the operations announced on 21 July 2003 and prompted by the continued weaknesses of the gold price in Rand terms.

        Management's proposal indicates

    a reduction in gold output of approximately 20%;

    the mothballing of some infrastructure; and

    a possible reduction in manpower of approximately 4500.

        Management has invited inputs from organized labour and other stakeholders and will continue to assess and develop its proposal in response to such inputs. It will also seek to reach agreement in principle on certain working practices, which it considers essential for the development of its rescue plan, including the following:

    full calendar operations (FULCO);

    winter months practices to reduce power consumption; and

    the "early starter' concept to stagger shift times.

        Management is confident that the present mine life of 15 years can be preserved and the re-commissioning of certain medium grade areas carried out should economic conditions improve, the continued strength of the Rand and its impact on operating margins notwithstanding. Current capital investment of R47million has been budgeted, with the aim of fast tracking development into identified higher grade areas of the mine.

        The presentation of management's proposal was preceded by nine communication and rescue strategy meetings held by committees established at mine level between the representatives of organized labour and management, as well as two facilitation meetings under the auspices of the Council for Conciliation, Mediation and Arbitration in terms of the provisions of the Labour Relations Act.

        Other stakeholders, including the Department of Labour, the Department of Minerals and Energy, and the national executive of labour unions and associations have also been informed and asked to comment.

        DRD retained consultants SRK (technical) and PricewaterhouseCoopers (financial) immediately after announcing the review to independently monitor the process and verify the data on which its proposals are based.



        Shareholders will be kept informed of the process, specifically as and when material changes occur.

Queries:   Ilja Graulich, Durban Roodepoort Deep, Limited
+27 11 381 7826 (office)
+27 83 604 0820 (mobile)

2




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