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EQUITY
12 Months Ended
Jun. 30, 2021
Equity [abstract]  
Equity
21
 
EQUITY
ACCOUNTING POLICIES
Stated share capital
Ordinary shares and the cumulative preference shares are
 
classified as equity. Incremental costs directly attributable to the issue
of ordinary shares are recognised as a deduction from equity, net of any tax effect.
Repurchase and reissue of share capital (treasury shares)
When shares
 
recognised as
 
equity are
 
repurchased, the
 
amount of
 
the consideration
 
paid, which
 
includes directly
 
attributable
costs is
 
recognised as
 
a deduction
 
from equity.
 
Repurchased shares
 
are classified
 
as treasury
 
shares and
 
are presented
 
as a
deduction from stated share capital.
Dividends
Dividends are recognised
 
as a liability
 
on the date on
 
which they are declared
 
which is the date
 
when the shareholders’
 
right to
the dividends vests.
21.1
 
STATED
 
SHARE CAPITAL
All ordinary shares rank equally regarding the Company’s residual assets. Holders of ordinary shares are entitled to dividends as
declared from time to
 
time and are entitled to
 
one vote per share
 
at general meetings of the
 
Company. All
 
rights attached to the
Company’s shares held by the Group are suspended until those shares are reissued.
In terms of an ordinary resolution passed at
 
the previous annual general meeting, the remaining unissued ordinary shares
 
in the
company are under the control of the directors until the next general meeting.
Amounts in R million
2021
2020
2019
Authorised share capital
1,500,000,000
, (2020 and 2019:
1,500,000,000
) ordinary shares of
no
 
par value
5,000,000
 
(2020 and 2019:
5,000,000
) cumulative preference shares of
10
 
cents each
0.5
0.5
0.5
Issued share capital
864,588,711
 
(2020:
864,588,711
, 2019:
696,429,767
) ordinary shares of no par value (a)
6,208.4
6,208.4
5,123.3
9,474,920
 
(2020:
9,474,920
, 2019:
9,361,071
) treasury shares held within the Group (b)
(51.0)
(51.0)
(51.0)
5,000,000
 
(2020 and 2019:
5,000,000
) cumulative preference shares of 10 cents each
0.5
0.5
0.5
6,157.9
6,157.9
5,072.8
RELATED PARTY
 
RELATIONSHIPS AND TRANSACTIONS
(a)
 
Ordinary shares issued
Sibanye-Stillwater and its
 
subsidiaries and associates
 
became related parties
 
to the Group
 
on July 31,
 
2018 when the
 
acquisition
of FWGR became unconditional. DRDGOLD issued
265
 
million new ordinary shares (
38.05
% of its outstanding shares) and an
option to subscribe
 
for new ordinary shares
 
up to a total
 
of
50.1
% of the total
 
issued ordinary shares
 
of DRDGOLD (“
Option
”)
as purchase consideration for these assets.
On January
 
8, 2020
 
Sibanye-Stillwater exercised
 
the Option
 
and on
 
January 22,
 
2020 it
 
subscribed for
168,158,944
 
Shares
(“
Subscription
 
Shares
”) at
 
an
 
aggregate
 
subscription
 
price
 
of
 
R
1,085.6
 
million.
 
The
 
Subscription
 
Shares
 
were
 
allotted
 
and
issued at a price of R
6.46
 
per Share, being a
10
% discount to the 30-day volume weighted average
 
traded price of a Share on
the day immediately prior to the date of exercise of the Option.
(b)
 
Treasury shares
Shares
 
in
 
DRDGOLD Limited
 
are
 
held
 
in treasury
 
by
 
Ergo Mining
 
Operations Proprietary
 
Limited
 
("
EMO
").
No
 
shares were
acquired in the market
 
during the year ended June
 
30, 2021 or the year
 
ended June 30, 2020
 
(June 30, 2019
113,849
 
shares
were acquired at an average price of R
2.68
).
21.2
 
DIVIDENDS
Amounts in R million
2021
2020
2019
Dividends paid during the year net of treasury shares:
Final dividend declared relating to prior year:
35
 
SA cents per share (2020:
20
 
SA cents
per share; 2019: nil SA cents per share)
299.3
137.5
-
First interim dividend:
40
 
SA cents per share (2020:
25
 
SA cents per share; 2019: nil SA
cents per share)
342.0
213.8
-
Second interim dividend nil SA cents per share (2020:
25
 
SA cents per share; 2019: nil
SA cents per share)
-
213.8
-
Total
641.3
565.1
-
After June 30, 2021, a dividend of
40
 
cents per qualifying share amounting to R
342.0
 
million was approved by the directors as
a final dividend for the year ended June 30, 2021.
 
The dividend has not been provided as at June 30, 2021
 
and does not have
any tax impact on the Group.