Governance

DRDGOLD’s Board of Directors continues to ensure that the principles of good corporate governance as recognised and practised throughout the world are upheld and implemented.

All the directors are fully aware that they are the custodians of corporate governance in the organisation and this is reflected in the way they execute their fiduciary duties, which is with diligence, integrity and honour. The intention is that this filters down to all employees. The upholding of such ideals puts the company in a position to improve organisational performance and deliver value to shareholders and stakeholders alike. DRDGOLD has set up systems and controls to promote discipline, transparency, accountability, responsibility and fairness for the protection of the interests of shareholders, employees and the communities in which we operate.

During FY2010, DRDGOLD complied substantially with the King Report on Corporate Governance (the King II Report). However, the board elected the CEO as chairman of the Risk Committee (refer to the Corporate Governance section of the Annual Report 2010 for further information).

On 1 March 2010 the King III Report was put into effect. It replaces the King II Report as a codified body of principles which is intended to serve as a guideline for the enhancement of high standards of corporate governance. DRDGOLD is committed to observing the provisions of the King III Report and to enforcing it to the extent possible within the context of the 'apply or explain' principle of the King III Report. The company will include further changes in line with the King III Report The King Report in the next financial year.

DRDGOLD’s shares are quoted on the JSE Limited (JSE), which is its primary listing. DRDGOLD is also registered with the Securities and Exchange Commission (SEC) in the United States of America and its ordinary shares are quoted on the NYSE in the form of an American Depositary Receipts (ADR) Programme, administered by the Bank of New York Mellon. Accordingly, DRDGOLD is subject to compliance with the Sarbanes-Oxley Act of 2002 (SOX), which is documented in our Form 20F filed annually with the SEC.

Any contravention of the group's Code of Ethics (PDF - 96KB) is regarded as a serious matter.

The Corporate governance (PDF - 336KB) section of the 2010 annual report is available for download.