Exhibit 99.1
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
ISIN: ZAE000058723
JSE share code: DRD
NYSE trading symbol: DRD
(“
DRDGOLD
”)
Shareholders of DRDGOLD (“
Shareholders
”) are advised that in terms of the
equity settled long-term incentive
”),
as
approved
by
Shareholders
on
2
December
2019,
qualifying
employees
(“
Participants
”) are awarded conditional
shares on an annual
basis, comprising performance shares (80%
of the
total conditional shares awarded)
and retention shares (20%
of the total
conditional shares awarded) (“
Awards
Awards vest 3 years after grant
date (“
Vesting Period
”), subject to the rules
of the LTI Scheme, including certain
performance conditions being met. Notwithstanding the Vesting Period, the LTI Scheme made provision for 50%
of the Awards made in December 2019
(“
2019 Awards
”) to vest in December 2021
(being 2 years after the
grant
date) and the remaining 50% to
vest in December 2022 (being 3
years after the grant date),
subject to the rules
of the LTI
Scheme. Vested
Awards are settled in the form of
DRDGOLD ordinary shares (“
DRDGOLD Shares
”)
at a zero-exercise price.
DRDGOLD
hereby
advises
Shareholders
of
the
off-market
vesting
of
50%
of
the
2019
Awards
to
directors,
prescribed
officers
and the
company secretary
of DRDGOLD
and its
major
subsidiaries
on 2
December
2022
(“
Vesting
”),
the
deemed
value
of
which
is
based
on
the
closing
price
of
a
DRDGOLD
Share
on
the
date
immediately preceding the date of Vesting,
being R11.80 on 1 December
2022.
Furthermore,
various
Participants have
elected to
dispose
of all
or a
portion of
the vested
DRDGOLD
Shares
(“
”).
Accordingly,
in
order
to
facilitate
the
disposal
of
the
Relevant
DRDGOLD
Shares,
a
pooled
sale
arrangement
has
been
put
in
place
in
terms
of
which
the
aggregate
of
the
Relevant
DRDGOLD
Shares
are
being
disposed
of,
by
an
independent
third
party,
through
various
on-market
trades
(“
Sales
”).
The details of the Vesting and
Sales
(to date) are set out below:
Vesting