Media releases

New finance director for DRDGOLD

Details

Published: Thursday, 25 August 2005 02:00

DRDGOLD is pleased to announce the appointment of John Sayers as the company’s new Finance Director and Chief Financial Officer with effect from 5 Sep 05
Johannesburg, South Africa. 25 August 2005. DRDGOLD Limited (JSE: DRD; NASDAQ: DROOY; ASX: DRD; POM SoX: DRD) is pleased to announce the appointment of John Sayers as the company’s new Finance Director (FD) and Chief Financial Officer (CFO) with effect from 5 September 2005. In the former capacity, he becomes an Executive Director of DRDGOLD.

Sayers (59) takes over the roles of FD and CFO from Ian Murray, who has served as the company’s Finance Director since 2000. After ensuring a smooth handover to Sayers, Murray will focus on his role as DRDGOLD’s Corporate Development Officer, primarily in the Australasian region. He will continue to serve as an Executive Director of DRDGOLD.

Sayers brings to DRDGOLD almost 40 years of financial experience, most recently as Financial Director of Nampak Limited (1996-2004) and, immediately prior to that, as Financial Director of Altron Limited (1989-1996).

His role in DRDGOLD will be to focus on further strengthening financial systems and preparing the Group for proposed accounting changes, such as International Financial Reporting Standards (IFRS), over the next few years.

Commenting on the appointment, DRDGOLD Chairman Paseka Ncholo said: “We are pleased to have secured the services of someone with John’s depth of experience and look forward to his contributing to DRDGOLD’s drive to stay ahead of the challenges facing the gold mining sector, particularly in a South African context.”

Queries:

South Africa
Investor and Media Relations
Ilja Graulich, DRDGOLD
+27 11 219 8707 (office)
+27 83 604 0820 (mobile)

James Duncan, Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)

North America
Investor and Media Relations
Barbara Cano, Breakstone & Ruth International
+1 646 452 2334 (office)

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 Services
+44 20 7499 3916 (office)
+44 779 863 4398

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DRDGOLD is an intermediate unhedged gold producer with mines in South Africa as well as Australasia. The company’s production profile is split equally between its highly leveraged SA operations and its low cost, cash generative offshore mines.

DRDGOLD has primary listings on the Johannesburg (JSE:DRD) and Australian (ASX:DRD) stock exchanges and secondary listings on NASDAQ (DROOY), the London and Port Moresby stock exchanges 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.drdgold.com

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FORWARD-LOOKING STATEMENTS
Some of the information in this press release may contain projections or other forward looking statements regarding future events or other financial performance, including forward-looking statements and information relating to us that are based on the beliefs of our management, as well as assumptions made by and information currently available to our management. When used in this release, the words "estimate", "project", "believe", anticipate", "intend", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions.

Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, a drop in the gold price, a continuing strengthening of the Rand against the Dollar, regulatory developments adverse to us or difficulties in maintaining necessary licenses or other governmental approvals, changes in our competitive position, changes in business strategy, any major disruption in production at our key facilities or adverse changes in foreign exchange rates and various other factors.

These risks include, without limitation, those described in the section entitled "Risk Factors" included in our annual report for the fiscal year ended 30 June 2004, which we filed with the United States Securities and Exchange Commission on 29 November 2004 on Form 20-F, as amended by the Form 20-F/A filed on 29 April 2005 and those detailed from time to time with the United States Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date thereof. We do not undertake any obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date of this report or to the occurrence of unanticipated events.