Euronext Access Paris market: Termination of listing of DRDGOLD securities
29 May 2018
DRDGOLD shareholders (“Shareholders”) are advised that a formal application, in accordance with Article 7.1 of the Euronext Access Rules, has been made to the authorities of the Euronext Access Paris market (“Euronext”) for the voluntary termination of the listing of DRDGOLD securities on Euronext (“Termination”). The Termination will become effective from 30 May 2018.
In 2017, the European Central Banks Regulation undertook a process to harmonise its settlement and Central Securities Depositary (“CSD”) requirements regarding the quality of its link with foreign markets. It was subsequently decided that Euronext close its link with the South African securities market, via its French CSD, Euroclear. In the circumstances, trading of DRDGOLD’s securities on the Euronext was no longer possible and Euroclear subsequently undertook a process to transfer the DRDGOLD securities held by French Shareholders to a South African CSD, such that the DRDGOLD securities remained tradable on the securities exchange operated by the JSE Limited (“JSE”).
Historically, the liquidity of the securities traded on the Euronext has been negligible. For the period June 2016 to June 2017, the total volume of securities traded on this exchange amounted to less than 0.2% of the total number of DRDGOLD securities in issue.
In light of the above and the fact that the DRDGOLD securities are no longer tradable on the Euronext, a decision was made to apply for the Termination on said exchange.
For the avoidance of doubt, DRDGOLD’s primary listing on the JSE and secondary listing on the New York Stock Exchange (in the form of an American Depositary Receipts programme) remain unaffected by the Termination. Additionally, the trading of the Company’s securities on the regulated unofficial market on the Frankfurt Stock Exchange and the Berlin and Stuttgart over-the-counter markets also remain unaffected.
Shareholders are advised to contact Phil Dexter on +44 (0) 207 796 8644 or email email@example.com should they have any further queries with regard to the Termination.
29 May 2018