-----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, UC99LDoUpfrMgKBdLOLgNiADfctn5i+9NlBS1BK9CbhYMtLkVvdu+K51H2s1/7sJ jUnH8ai5QnufeIkPRV5CCg== 0001104659-04-019437.txt : 20040713 0001104659-04-019437.hdr.sgml : 20040713 20040713134214 ACCESSION NUMBER: 0001104659-04-019437 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20040713 FILED AS OF DATE: 20040713 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: 04911735 BUSINESS ADDRESS: STREET 1: 5 PRESS AVE STREET 2: SELBY CITY: JOHANNESBURG, SOUTH STATE: T3 ZIP: 00000 6-K 1 a04-7776_16k.htm 6-K

 

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 July 2004

 

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 ý         Form 40-F o

 

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 o    No ý

 

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 July 2004, and incorporated by reference herein, are:

 

Exhibit No.

 

Description

1.

 

Release, dated May 13, 2004, entitled “DRD Rejects Emperor Independent Expert Report.”

 

 

 

2.

 

Release, dated May 19, 2004, entitled “Second Supplementary Bidder’s Statement.”

 

 

 

3.

 

Release, dated June 3, 2004, entitled “DRD Extends Emperor Offer Period.”

 

 

 

4.

 

Release, dated June 10, 2004, entitled “DRD Welcomes Emperor’s Recommendation of Final Offer.”

 

 

 

5.

 

Release, dated June 10, 2004, entitled “Final Revised Offer to Shareholders of Emperor Mines Limited (“Emperor”).”

 

 

 

6.

 

Release, dated June 10, 2004, entitled “DRD Welcomes Emperor’s Recommendation of Final Offer.”

 

 

 

7.

 

Release, dated June 10, 2004, entitled “Third Supplementary Bidder’s Statement.”

 

 

 

8.

 

Release, dated June 28, 2004, entitled “DRD Closes out Last Remaining Hedge.”

 

 

 

9.

 

Release, dated July 6, 2004, entitled “DRD Offer for Emperor goes Unconditional.”

 

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/ Andrea Townsend

 

 

 

Andrea Townsend

 

 

 

Company Secretary

 

 

Dated: July 13, 2004

 

3


EX-1 2 a04-7776_1ex1.htm EX-1

Exhibit 1

 

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”)

 

DRD REJECTS EMPEROR INDEPENDENT EXPERT REPORT

 

DRD has remained committed to its bid of one DRD share for five Emperor Mines Limited (“Emperor”) shares for control of the company.

 

In a letter to Emperor shareholders, DRD CEO, Ian Murray, rejected an Independent Expert’s report included in Emperor’s Target Statement response to DRD’s Bidders’ Statement.

 

Murray said DRD believed the Independent Expert over-valued Emperor.

 

“Following our thorough review of the Target Statement we remain committed to our initial offer,” Murray said.

 

“We do not agree with the Independent Expert’s valuation of Emperor shares at $1.00-$1.32 per share. We have conducted due diligence on Emperor’s assets both before and after announcing the offer and nothing we have seen supports a value in this range.”

 

“There is also a significant discrepancy between the valuation range and the market price of 67 cents at which Emperor was trading immediately prior to DRD’s announcement of its takeover offer. The market just does not get it that wrong.”

 

Since the announcement of DRD’s offer, the Emperor share price has traded in line with DRD’s implied offer and has not adjusted to reflect the Independent Expert’s valuation range.

 

“At the time of announcement, DRD’s offer represented a 32% premium to the price at which Emperor shares were trading. As we stated in the Bidder’s Statement, we believed that a takeover premium of 32% was attractive. The Independent Expert has stated that an appropriate premium for control for Emperor would be in the range of 30% to 35%.”

 

Murray added that DRD is also of the opinion that short term funding is an important issue for Emperor, and that Emperor’s cash position needs to be closely monitored due to the current volatility of the gold price and the historical underperformance of the Vatukoula mine.

 



 

DRD announced on 6 May 2004 that it was extending its offer to Emperor shareholders for another four weeks. The offer is now due to close at 7pm (Sydney time) on Friday, 11 June 2004 unless withdrawn or extended in accordance with the Corporations Act.

 

Queries:

 

South Africa

Investor and Media Relations

Ilja Graulich, Durban Roodepoort Deep, Limited

+27 11 381 7826 (office)

+27 83 604 0820 (mobile)

 

James Duncan, Russell & Associates

+27 11 880 3924 (office)

+27 82 892 8052 (mobile)

 

Australasia

Investor and Media Relations

Paul Downie, Porter Novelli

+61 893 861 233 (office)

+61 414 947 129 (mobile)

 

United Kingdom/Europe

Investor and Media Relations

Phil Dexter, St James’s Corporate

+44 207 499 3916 (office)

+44 779 863 4398

 

North America

Investor Relations

Susan Borinelli, Breakstone & Ruth International

+1 646 536 7018 (office)

+1 917 570 8421 (mobile)

 

Media Relations

Jessica Anderson, Breakstone & Ruth International

+1 646 536 7002 (office)

+1 347 423 5859 (mobile)

 

Johannesburg

13 May 2004

 


EX-2 3 a04-7776_1ex2.htm EX-2

Exhibit 2

 

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”)

 

SECOND SUPPLEMENTARY BIDDER’S STATEMENT

 

DRD today lodged a Second Supplementary Bidder’s Statement.  A copy of the Second Supplementary Bidder’s Statement is available on the DRD Website.

 

The Second Supplementary Bidder’s Statement supplements, and should be read together with, DRD’s Bidder’s Statement dated 26 March 2004 and DRD’s First Supplementary Bidder’s Statement dated 4 May 2004.

 

Queries to Emperor Shareholder Infoline:

 

From within Australia is 1800 118 938 (toll free)

From outside Australia +61 8 9386 2651

As required by the Corporations Act, calls to these numbers will be recorded.

 

Johannesburg

19 May 2004

 

US Disclosures

 

DRD’s shares have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless they are registered under the U.S. Securities Act or an exemption from the registration requirements of the U.S. Securities Act is available.

 

The offer described in DRD’s Bidder’s Statement dispatched on 13 April 2004 is made for the securities of an Australian company.  The offer is subject to disclosure requirements in Australia that are different from those of the United States.  Certain financial statements included in the Bidder’s Statement have been prepared in accordance with South African, Australian and/or International Accounting Standards that may not be comparable to the

 



 

financial statements of United States companies.  It may be difficult for Emperor’s shareholders to enforce their rights and any claim they may have arising under the U.S. federal securities laws, since DRD is located in South Africa, and all of its officers and directors are residents of countries other than the United States.  Emperor’s shareholders may not be able to sue DRD or its officers or directors in a non-U.S. court for violations of U.S. securities laws.  It may be difficult to compel DRD and its affiliates to subject themselves to a U.S. court’s judgment.  You should be aware that DRD may purchase securities otherwise than under the offer in DRD’s Bidder’s Statement, such as in the open market or privately negotiated transactions to the extent permitted under Australian law.

 


EX-3 4 a04-7776_1ex3.htm EX-3

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”)

 

DRD EXTENDS EMPEROR OFFER PERIOD

 

DRD announced today that it is extending the scheduled closing date of its offer, described in DRD’s Bidder’s Statement dispatched on 13 April 2004, for Emperor Mines Limited (“Emperor”) by a further 18 days to 19H00 (Sydney time) on 29 June 2004.

 

DRD’s offer remains open and capable of acceptance by Emperor’s shareholders. Emperor shareholders should refer to DRD’s Bidder’s Statement dispatched on 13 April 2004 for details on the acceptance procedure, or they should contact their financial or other professional adviser if they are in any doubt as to how to act in relation to the offer.

 

Johannesburg

3 June 2004

 

Queries to Emperor Shareholder Infoline:

 

From within Australia is 1800 118 938 (toll free)

From outside Australia +61 8 9386 2651

As required by the Corporations Act, calls to these numbers will be recorded

 

Investor and Media Relations

Paul Downie, Porter Novelli

+61 893 861 233 (office)

+61 414 947 129 (mobile)

 

US Disclosures

 

DRD’s shares have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless they are registered under the U.S. Securities Act or an exemption from the registration requirements of the U.S. Securities Act is available.

 



 

The offer described in DRD’s Bidder’s Statement dispatched on 13 April 2004 is made for the securities of an Australian company.  The offer is subject to disclosure requirements in Australia that are different from those of the United States.  Certain financial statements included in the Bidder’s Statement have been prepared in accordance with South African, Australian and/or International Accounting Standards that may not be comparable to the financial statements of United States companies.  It may be difficult for Emperor’s shareholders to enforce their rights and any claim they may have arising under the U.S. federal securities laws, since DRD is located in South Africa, and all of its officers and directors are residents of countries other than the United States.  Emperor’s shareholders may not be able to sue DRD or its officers or directors in a non-U.S. court for violations of U.S. securities laws.  It may be difficult to compel DRD and its affiliates to subject themselves to a U.S. court’s judgment.  You should be aware that DRD may purchase securities otherwise than under the offer in DRD’s Bidder’s Statement, such as in the open market or privately negotiated transactions to the extent permitted under Australian law.

 


EX-4 5 a04-7776_1ex4.htm EX-4

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”)

 

DRD WELCOMES EMPEROR’S RECOMMENDATION OF FINAL OFFER

 

Chief Executive Officer of DRD, Ian Murray, has welcomed a decision by a majority of the independent directors of the Emperor Mines Limited (“Emperor”) board to recommend to shareholders that they accept DRD’s final, revised offer for the company.

 

DRD announced that it will increase its bid for Emperor to five DRD shares for every 22 Emperor shares it does not already own.

The agreed offer represents an increase of 14% over DRD’s previous offer.  DRD’s previous offer represented a 32% premium over the price at which Emperor was trading prior to the announcement of the offer on 8 March 2004.

 

“We believe our original offer was fair based on Emperor’s share price tracking the offer since the bid was launched. This new offer reflects our strong intention to proceed with the full takeover and add value to the Vatukoula Gold Mine in Fiji,” Murray said.

 

DRD has decided to waive all but one of the conditions to the offer.  The remaining minimum acceptance condition of 90% will be waived and the offer will become fully unconditional upon DRD becoming entitled to at least 50.1% of the total Emperor shares on issue.

 

DRD has also decided to:

 

                  shorten the time for payment of the offer consideration to accepting shareholders to within seven days after its offer becomes unconditional, or after acceptance of the offer, whichever is the latter; and

 



 

                  extend the offer period so that it will expire at 7pm (Sydney time) on Wednesday, 14 July 2004, unless extended in accordance with the Corporations Act.

 

The documentation concerning these changes will be sent to Emperor shareholders shortly.

 

Johannesburg

10 June 2004

 

QUERIES

 

DRD

Ian Murray

Chief Executive Officer

O424 244 195 (within Australia) or

+27 82 441 4090 (from within South Africa and overseas)

 

CIBC World Markets (financial advisor)

Neil Johnson

Managing Director

CIBC World Markets

+61 2 9275 1301 (office)

+61 419 924 784 (mobile)

 

South Africa

Investor and Media Relations

Ilja Graulich, Durban Roodepoort Deep, Limited

+27 11 381 7826 (office)

+27 83 604 0820 (mobile)

 

James Duncan, Russell & Associates

+27 11 880 3924 (office)

+27 82 892 8052 (mobile)

 

Australasia

Investor and Media Relations

Paul Downie, Porter Novelli

+61 893 861 233 (office)

+61 414 947 129 (mobile)

 

United Kingdom/Europe

Investor and Media Relations

Phil Dexter, St James’s Corporate

+44 20 7499 3916 (office)

+44 779 863 4398

 



 

North America

Investor Relations

Susan Borinelli, Breakstone & Ruth International

+1 646-536-7018 (office)

+1 917-570-8421 (mobile)

 

Media Relations

Jessica Anderson, Breakstone & Ruth International

+1 646-536-7002 (office)

+1 347-423-5859 (mobile)

 


EX-5 6 a04-7776_1ex5.htm EX-5

Exhibit 5

 

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”)

 

FINAL REVISED OFFER TO SHAREHOLDERS OF EMPEROR MINES LIMITED (“EMPEROR”)

 

INTRODUCTION

 

Shareholders are referred to the detailed announcement dated 8 March 2004 setting out the terms of an offer extended by DRD to the shareholders of Emperor (“the offer”). DRD wishes to advise shareholders that it has revised the consideration in relation to the offer to five DRD shares for every twenty-two Emperor shares (“the final revised offer”). In the event of full acceptance of the final revised offer, approximately 20.47 million new DRD shares will be issued to Emperor shareholders (“the consideration shares”).

 

CONDITIONS PRECEDENT TO THE FINAL REVISED OFFER

 

The final revised offer is conditional on DRD obtaining a relevant interest in at least 90% of Emperor. DRD may, in its sole discretion, waive this condition precedent and has committed to waive this condition upon DRD becoming entitled to at least 50.1% of the total Emperor shares on issue.

 

PRO FORMA FINANCIAL EFFECTS

 

As required by the Listing Requirements of the JSE Securities Exchange South Africa (“the JSE”), the pro forma financial effects on the earnings, headline earnings, net asset value and tangible net asset value per DRD share, calculated in accordance with such requirements, is set out below.  The material assumptions are set out following the table.  The pro forma financial effects are based on unaudited financial information of both DRD and Emperor as at 31 December 2003 and so do not constitute a representation of the current or future

financial position of DRD should the final revised offer be accepted by Emperor shareholders.

 

 

 

Before the
final revised offer

 

After the
final revised offer

 

 

 

(cents)

 

(cents)

 

Change

 

 

 

 

 

 

 

(%)

 

Earnings per share

 

(18.1

)

(70.3

)

(288

)

Headline earnings per share

 

(18.5

)

(70.4

)

(281

)

Net asset value per share

 

493.7

 

646.4

 

31

 

Tangible net asset value per share

 

493.7

 

646.4

 

31

 

 



 

Notes:

The earnings and headline earnings per share in the “Before the final revised offer” column of the table are based on the unaudited income statement of DRD for the six months ended 31 December 2003.

The earnings and headline earnings per share in the “After the final revised offer” column of the table are based on 226 373 735 DRD shares in issue, being the weighted average number of shares in issue for the six months ended 31 December 2003, the reviewed Emperor income statement for the six months ended 31 December 2003 and the assumptions that:

the final revised offer is accepted in full; and

the consideration shares were issued on 1 June 2003.

The net asset value per share and tangible net asset value per share in the “After the final revised offer” column of the table are based on the unaudited balance sheets of DRD and Emperor at 31 December 2003.

The net asset value per share and tangible net asset value per share in the “After the final revised offer” column of the table are based on 241 793 398 shares in issue, the reviewed Emperor balance sheet at 31 December 2003 and the assumptions that:

the final revised offer is accepted in full; and

the consideration shares were issued on 31 December 2003 at an issue price of R21.85.

 

The pro forma financial effects have been prepared according to South African Statements of Generally Accepted Accounting Practice (“SA GAAP”) and have not been audited. Emperor’s results for the six months ended 31 December 2003 have been adjusted to comply with SA GAAP, in particular AC 133. The pro forma financial information included in this announcement does not purport to be in compliance with Regulation S-X of the rules and regulations of the US Securities Exchange Commission.

 

NO OTHER SIGNIFICANT CHANGES

 

Save as disclosed above, there has been no other significant change affecting any matter contained in the announcement relating to the offer published on 8 March 2004 and no other significant new matter has arisen that would have been required to be mentioned in such announcement had it arisen prior to the publication thereof.

 

 

Johannesburg

10 June 2004

 

Financial advisor in South Africa

QuestCo (Pty) Limited

(Registration number 2002/005616/07)

 

Sponsor

Standard Bank

 


EX-6 7 a04-7776_1ex6.htm EX-6

Exhibit 6

 

 

FOR IMMEDIATE RELEASE

 

DRD WELCOMES EMPEROR’S RECOMMENDATION OF FINAL OFFER

 

Johannesburg, South Africa. 10 June 2004. Durban Roodepoort Deep, Limited (JSE: DUR; NASDAQ: DROOY; ASX:DRD) Chief Executive Officer Ian Murray has welcomed a decision by a majority of the independent directors of the Emperor Mines Limited board to recommend to shareholders that they accept DRD’s final, revised offer for the company.

 

DRD announced that it will increase its bid for Emperor to five DRD shares for every 22 Emperor shares it does not already own.

 

The agreed offer represents an increase of 14% over DRD’s previous offer.  DRD’s previous offer represented a 32% premium over the price at which Emperor was trading prior to the announcement of the offer on 8 March 2004.

 

“We believe our original offer was fair based on Emperor’s share price tracking the offer since the bid was launched. This new offer reflects our strong intention to proceed with the full takeover and add value to the Vatukoula Gold Mine in Fiji,” Murray said.

 

DRD has decided to waive all but one of the conditions to the offer.  The remaining minimum acceptance condition of 90% will be waived and the offer will become fully unconditional upon DRD becoming entitled to at least 50.1% of the total Emperor shares on issue.

 

DRD has also decided to:

 

                  shorten the time for payment of the offer consideration to accepting shareholders to within seven days after its offer becomes unconditional, or after acceptance of the offer, whichever is the latter; and

 

                  extend the offer period so that it will expire at 7pm (Sydney time) on Wednesday, 14 July 2004, unless extended in accordance with the Corporations Act.

 



 

The documentation concerning these changes will be sent to Emperor shareholders shortly.

 

Queries:

 

In relation to the merger:

 

DRD

 

CIBC World Markets

Ian Murray

 

(financial advisor)

Chief Executive Officer

 

Neil Johnson

O424 244 195 (within Australia) or

 

Managing Director

+27 82 441 4090 (from within Sth Africa and overseas)

 

CIBC World Markets

 

 

+61 2 9275 1301 (office)

 

 

+61 419 924 784 (mobile)

 

South Africa

 

Australasia

 

 

 

Investor and Media Relations

 

Investor and Media Relations

Ilja Graulich, Durban Roodepoort Deep, Limited

 

Paul Downie, Porter Novelli

+27 11 381 7826 (office)

 

+61 893 861 233 (office)

+27 83 604 0820 (mobile)

 

+61 414 947 129 (mobile)

 

 

 

James Duncan, Russell & Associates

 

 

+27 11 880 3924 (office)

 

 

+27 82 892 8052 (mobile)

 

 

 

North America

 

United Kingdom/Europe

 

 

 

Investor Relations

 

Investor and Media Relations

Susan Borinelli, Breakstone & Ruth International

 

Phil Dexter, St James’s Corporate Services

 

 

 

+1 646-536-7018 (office)

 

+44 20 7499 3916 (office)

+1 917-570-8421 (mobile)

 

+44 779 863 4398 (mobile)

 

 

 

Media Relations

 

 

Jessica Anderson, Breakstone & Ruth International

 

 

 

 

 

+1 646-536-7002 (office)

 

 

+1 347-423-5859 (mobile)

 

 

 



 

DRD is the world’s 9th largest gold producer, with mines in South Africa as well as Australasia, a key target for growth.  The company has a track record of success in extending the lives of older mines safely and profitably.  For fiscal year 2003, DRD produced 870 000 ounces of gold, up from under 100 000 ounces a year in 1997, when current operations were amalgamated.

 

DRD has primary listings on the Johannesburg (JSE:DRD) and Australian (ASX:DRD) stock exchanges and secondary listings on NASDAQ (DROOY), the London Stock Exchange and the Paris and Brussels Bourses.  Its shares are also traded on the regulated unofficial market of the Frankfurt Stock Exchange and the Berlin OTC Market.

 

For more information, please visit www.drd.co.za or www.durbans.com

 

 

DRD’s shares have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless they are registered under the U.S. Securities Act or an exemption from the registration requirements of the U.S. Securities Act is available.

 

The offer described in DRD’s Bidder’s Statement dispatched on 13 April 2004 is made for the securities of an Australian company.  The offer is subject to disclosure requirements in Australia that are different from those of the United States.  Certain financial statements included in the Bidder’s Statement have been prepared in accordance with South African, Australian and/or International Accounting Standards that may not be comparable to the financial statements of United States companies.  It may be difficult for Emperor’s shareholders to enforce their rights and any claim they may have arising under the U.S. federal securities laws, since DRD is located in South Africa, and all of its officers and directors are residents of countries other than the United States.  Emperor’s shareholders may not be able to sue DRD or its officers or directors in a non-U.S. court for violations of U.S. securities laws.  It may be difficult to compel DRD and its affiliates to subject themselves to a U.S. court’s judgment.  You should be aware that DRD may purchase securities otherwise than under the offer in DRD’s Bidder’s Statement, such as in the open market or privately negotiated transactions to the extent permitted under Australian law.

 


EX-7 8 a04-7776_1ex7.htm EX-7

Exhibit 7

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”)

 

THIRD SUPPLEMENTARY BIDDER’S STATEMENT

 

On 10 June 2004, DRD announced that it had revised its offer to the shareholders of Emperor Mines Limited (“Emperor”) to five DRD shares for every twenty-two of the outstanding Emperor shares (“the revised offer”).

 

DRD today lodged a Third Supplementary Bidder’s Statement which, together with a letter to the shareholders of Emperor outlining the terms of the revised offer, is available on the DRD website.

 

The majority of the independent directors of Emperor have recommended that Emperor shareholders accept the revised offer and a document outlining the reasons given for the recommendation is also posted on the DRD website.

 

The Third Supplementary Bidder’s Statement should be read together with DRD’s Bidder’s Statement dated 26 March 2004, DRD’s First Supplementary Bidder’s Statement dated 4 May 2004 and DRD’s Second Supplementary Bidder’s Statement dated 19 May 2004.

 

Johannesburg

17 June 2004

 

QUERIES

 

South Africa

Investor and Media Relations

Ilja Graulich, Durban Roodepoort Deep, Limited

+27 11 381 7826 (office)

+27 83 604 0820 (mobile)

 

James Duncan, Russell & Associates

 



 

+27 11 880 3924 (office)

+27 82 892 8052 (mobile)

 

Australasia

Investor and Media Relations

Paul Downie, Porter Novelli

+61 893 861 233 (office)

+61 414 947 129 (mobile)

 

United Kingdom/Europe

Investor and Media Relations

Phil Dexter, St James’s Corporate

+44 20 7499 3916 (office)

+44 779 863 4398

 

North America

Investor Relations

Susan Borinelli, Breakstone & Ruth International

+1 646-536-7018 (office)

+1 917-570-8421 (mobile)

 

Media Relations

Jessica Anderson, Breakstone & Ruth International

+1 646-536-7002 (office)

+1 347-423-5859 (mobile)

 


EX-8 9 a04-7776_1ex8.htm EX-8

Exhibit 8

 

 

For immediate release

 

DRD CLOSES OUT LAST REMAINING HEDGE

 

Johannesburg, South Africa, 28 June 2004.  Durban Roodepoort Deep, Limited (JSE: DUR; NASDAQ: DROOY; ASX: DRD) DRD is pleased to announce that it will be closing out its only remaining hedge contract in line with its policy of not hedging gold production.

 

The hedge is a “gold for electricity” contract with Eskom, the South African power utility, and was largely closed out in early 2004.  The remaining 135 000 ounces of gold hedged under the contract covers the period January 2005 to September 2005 and DRD expects that it will be closed out by next week.

 

DRD Chief Executive Officer Ian Murray said: “We have been keen to close out this remaining hedge contract and the current low Rand gold price has presented an ideal opportunity to achieve this. DRD will now provide shareholders with even more direct exposure to the gold price.”

 

 

To fund the closing out of the Eskom hedge, DRD has agreed a R100 million (US$15.8 million/A$22.6 million) short-term loan facility with Investec Bank Limited (“Investec”), a South African bank.  The loan is based on commercial terms and conditions and is repayable at DRD’s election, either in cash, in DRD shares or a combination of both.

 

The number of shares that could be issued to Investec under this loan is dependent on the average price of DRD shares as traded on the JSE Securities Exchange South Africa (“JSE”) for the ten trading days prior to the dates of repayment.  At the closing share price on the JSE on 24 June 2004 of R16, approximately 6.25 million shares may be issued or 2.6% of the enlarged capital, assuming the full facility is drawn down.

 

DRD estimates the cost of closing out the hedge will be around R60 million (U$9.5 million/A$13.6 million).

 



 

The balance of R40 million (U$6.3 million/A$9.0 million) will be available for any required injection of funds into Emperor Mines Limited (“Emperor”) if and when that company comes under DRD’s full ownership. The funds will not be used for the acquisition of Emperor shares.

 

DRD has previously indicated that, in its view, Emperor will require additional funding to complete its Phase II capital expansion plan and possibly for other plant upgrades, including those required to release the significant build up of gold in circuit.

 

Any injection of funds into Emperor will depend in part on the level of acceptances under the current takeover offer. DRD has received a recommendation by a majority of the independent directors of the Emperor Mines Limited board that shareholders accept DRD’s final, revised offer of five DRD shares for every 22 Emperor shares it does not already own. DRD currently has an interest in 26% of Emperor. If the offer is unsuccessful, DRD may choose not to further draw down the loan facility or, alternatively, will use the funds for general corporate purposes.

 

DRD is offering to acquire all of the shares in Emperor by way of a takeover offer.  The outcome of the takeover is not yet known, as the remaining 50.1% minimum acceptance requirement has not yet been satisfied.  The offer is scheduled to close on 14 July 2004 unless extended.

 

Queries:

 

South Africa

 

Australasia

 

 

 

Investor and Media Relations

 

Investor and Media Relations

Ilja Graulich, Durban Roodepoort Deep, Limited

 

Paul Downie, Porter Novelli

+27 11 381 7826 (office)

 

+61 893 861 233 (office)

+27 83 604 0820 (mobile)

 

+61 414 947 129 (mobile)

 

 

 

James Duncan, Russell & Associates

 

 

+27 11 880 3924 (office)

 

 

+27 82 892 8052 (mobile)

 

 

 

 

 

 

North America

 

United Kingdom/Europe

 

 

 

Investor Relations

 

Investor and Media Relations

Susan Borinelli, Breakstone & Ruth International

 

Phil Dexter, St James’s Corporate Services

 

 

 

+1 646-536-7018 (office)

 

+44 20 7499 3916 (office)

+1 917-570-8421 (mobile)

 

+44 779 863 4398 (mobile)

 

 

 

Media Relations

 

 

Jessica Anderson, Breakstone & Ruth International

 

 

 

 

 

+1 646-536-7002 (office)

 

 

+1 347-423-5859 (mobile)

 

 

 



 

DRD is the world’s 9th largest gold producer, with mines in South Africa as well as Australasia, a key target for growth.  The company has a track record of success in extending the lives of older mines safely and profitably.  For fiscal year 2003, DRD produced 870 000 ounces of gold, up from under 100 000 ounces a year in 1997, when current operations were amalgamated.

 

DRD has primary listings on the Johannesburg (JSE:DRD) and Australian (ASX:DRD) stock exchanges and secondary listings on NASDAQ (DROOY), the London Stock Exchange and the Paris and Brussels Bourses.  Its shares are also traded on the regulated unofficial market of the Frankfurt Stock Exchange and the Berlin OTC Market.

 

For more information, please visit www.drd.co.za or www.durbans.com

 

 

The DRD shares mentioned in this release and offered in the take-over offer have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless they are registered under the U.S. Securities Act or an exemption from the registration requirements of the U.S. Securities Act is available.

 

The offer described in DRD’s Bidder’s Statement dispatched on 13 April 2004 is made for the securities of an Australian company.  The offer is subject to disclosure requirements in Australia that are different from those of the United States.  Certain financial statements included in the Bidder’s Statement have been prepared in accordance with South African, Australian and/or International Accounting Standards that may not be comparable to the financial statements of United States companies.  It may be difficult for Emperor’s shareholders to enforce their rights and any claim they may have arising under the U.S. federal securities laws, since DRD is located in South Africa, and all of its officers and directors are residents of countries other than the United States.  Emperor’s shareholders may not be able to sue DRD or its officers or directors in a non-U.S. court for violations of U.S. securities laws.  It may be difficult to compel DRD and its affiliates to subject themselves to a U.S. court’s judgment.  You should be aware that DRD may purchase securities otherwise than under the offer in DRD’s Bidder’s Statement, such as in the open market or privately negotiated transactions to the extent permitted under Australian law.

 


EX-9 10 a04-7776_1ex9.htm EX-9

Exhibit 9

 

 

FOR IMMEDIATE RELEASE

 

DRD OFFER FOR EMPEROR GOES UNCONDITIONAL

 

Johannesburg, South Africa. Tuesday, 6 July 2004. Durban Roodepoort Deep Limited, (JSE: DUR; NASDAQ: DROOY; ASX: DRD), today removed all conditions from its offer to acquire all the shares in Emperor Mines Limited (Emperor). The offer is now unconditional.

 

Last month DRD increased and made final its offer to Emperor shareholders of 5 DRD shares for every 22 Emperor shares held.

 

DRD Chief Executive Officer, Ian Murray, said going unconditional allowed Emperor shareholders who accept the offer to receive their DRD shares within seven days.

 

A majority of the independent directors of Emperor’s board have recommended that shareholders accept DRD’s offer. DRD is presently entitled to 36.5% of the shares in Emperor.

 

“We expect the removal of this final condition takes away any uncertainty Emperor shareholders may have regarding our intentions to acquire their shares,” Murray said.

 

“We remain totally committed to adding value to the Vatukoula Gold Mine in Fiji.”

 

Last week DRD raised a R100 million loan facility with Investec Bank Limited, with R40 million of the loan earmarked for any possible capital injection that Emperor may need. The injection is partly dependent on the level of acceptances received under the current takeover offer.

 

Murray said if DRD obtains majority control of Emperor but not full ownership, it will seek to have Emperor raise funds, possibly through a rights issue.

 

The offer remains open until 14 July 2004, unless extended.

 



 

Queries

 

South Africa

 

Australasia

 

 

 

Investor and Media Relations

 

Investor and Media Relations

Ilja Graulich, Durban Roodepoort Deep, Limited

 

Paul Downie, Porter Novelli

+27 11 381 7826 (office)

 

+61 893 861 233 (office)

+27 83 604 0820 (mobile)

 

+61 414 947 129 (mobile)

 

 

 

James Duncan, Russell & Associates

 

 

+27 11 880 3924 (office)

 

 

+27 82 892 8052 (mobile)

 

 

 

North America

 

United Kingdom/Europe

 

 

 

Investor Relations

 

Investor and Media Relations

Susan Borinelli, Breakstone & Ruth International

 

Phil Dexter, St James’s Corporate Services

 

 

 

+1 646-536-7018 (office)

 

+44 20 7499 3916 (office)

+1 917-570-8421 (mobile)

 

+44 779 863 4398 (mobile)

 

 

 

Media Relations

 

 

Jessica Anderson, Breakstone & Ruth International

 

 

 

 

 

+1 646-536-7002 (office)

 

 

+1 347-423-5859 (mobile)

 

 

 

 

DRD is the world’s 9th largest gold producer, with mines in South Africa as well as Australasia, a key target for growth.  The company has a track record of success in extending the lives of older mines safely and profitably.  For fiscal year 2003, DRD produced 870 000 ounces of gold, up from under 100 000 ounces a year in 1997, when current operations were amalgamated.

 

DRD has primary listings on the Johannesburg (JSE:DRD) and Australian (ASX:DRD) stock exchanges and secondary listings on NASDAQ (DROOY), the London Stock Exchange and the Paris and Brussels Bourses.  Its shares are also traded on the regulated unofficial market of the Frankfurt Stock Exchange and the Berlin OTC Market.

 

For more information, please visit www.drd.co.za or www.durbans.com

 

 

U.S. Disclosures

 

The DRD shares mentioned in this release and offered in the take-over offer have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless they are registered under the U.S. Securities Act or an exemption from the registration requirements of the U.S. Securities Act is available.

 

The offer described in DRD’s Bidder’s Statement dispatched on 13 April 2004 is made for the securities of an Australian company.  The offer is subject to disclosure requirements in Australia that are different from those of the United States.  Certain financial statements included in the Bidder’s Statement have been prepared in accordance with South African, Australian and/or International Accounting Standards that may not be comparable to the financial statements of United States companies.  It may be difficult for Emperor’s shareholders to enforce their rights and any claim they may have arising under the U.S. federal securities laws, since DRD is located in South Africa, and all of its officers and directors are residents of countries other than the United States.  Emperor’s shareholders may not be able to sue DRD or its officers or directors in a non-U.S. court for violations of U.S. securities laws.  It may be difficult to compel DRD and its affiliates to subject themselves to a U.S. court’s judgment.  You should be aware that DRD may purchase securities

 



 

otherwise than under the offer in DRD’s Bidder’s Statement, such as in the open market or privately negotiated transactions to the extent permitted under Australian law.

 


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-----END PRIVACY-ENHANCED MESSAGE-----