Go Back Email this Link to a friend

HARMONY - ISSUE OF SHARES FOR CASH

Release Date: 09/07/1998 08:24:42      Code(s): HAR HARO
HARMONY GOLD MINING COMPANY LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 05/38232/06)
NASDAQ TRADING SYMBOL: HGMCY
("HARMONY" OR "THE COMPANY")
1. INTRODUCTION
THE CORNER HOUSE (PROPRIETARY) LIMITED IS AUTHORISED TO ANNOUNCE THAT THE
COMPANY HAS, BETWEEN THE PERIOD 30 JUNE 1998 AND 3 JULY 1998, PLACED 7 250 000
NEW ORDINARY SHARES OF 50 CENTS EACH IN THE SHARE CAPITAL OF THE COMPANY ("NEW
ORDINARY SHARES") WITH SELECTED FINANCIAL INSTITUTIONS FOR A CASH CONSIDERATION
OF R25,00 PER NEW ORDINARY SHARE ("THE ISSUE FOR CASH"), THEREBY RAISING
R181,25 MILLION.
IN TERMS OF THE JOHANNESBURG STOCK EXCHANGE ("THE JSE") LISTINGS REQUIREMENTS,
HARMONY ORDINARY SHAREHOLDERS HAVE WAIVED THEIR PRE-EMPTIVE RIGHT TO
PARTICIPATE IN THE ISSUE FOR CASH IN TERMS OF THE GENERAL AUTHORITY GIVEN AT
THE ANNUAL GENERAL MEETING OF THE COMPANY HELD ON 12 NOVEMBER 1997.
2. PRICING OF THE ISSUE FOR CASH
THE ISSUE PRICE OF THE NEW ORDINARY SHARES OF R25,00 PER SHARE REPRESENTS A
PREMIUM OF 11% TO THE 30 DAY WEIGHTED AVERAGE TRADED PRICE OF R22,50 PER SHARE
CALCULATED ON 30 JUNE 1998, THE DATE ON WHICH THE BOARD OF DIRECTORS OF THE
COMPANY APPROVED THE ISSUE FOR CASH.
3. FINANCIAL EFFECTS OF THE ISSUE FOR CASH
THE TABLE BELOW ILLUSTRATES THE FINANCIAL EFFECTS OF THE ISSUE FOR CASH ON THE
EARNINGS PER ORDINARY SHARE IN THE COMPANY BEFORE AND AFTER THE ISSUE FOR CASH
("EPS") BASED ON THE FOLLOWING:
- THE EPS IN THE "BEFORE" COLUMN IS THE UNAUDITED EPS FOR THE NINE MONTHS ENDED
31 MARCH 1998; AND
- THE EPS CALCULATION REFLECTED IN THE "AFTER" COLUMN HAS BEEN BASED ON THE
ASSUMPTION THAT THE CASH RAISED IN RESPECT OF THE ISSUE FOR CASH EARNED
INTEREST AFTER TAX AT A RATE OF 18% PER ANNUM FOR THE NINE MONTHS ENDED 31
MARCH 1998.
                                    "BEFORE"     "AFTER"      PERCENTAGE
                                    (CENTS)      (CENTS)      CHANGE
EPS                                 (123,8)      (79,6)       35,7%
4. LISTINGS
APPLICATIONS WILL BE MADE
- TO THE JSE FOR THE LISTING OF 7 250 000 NEW ORDINARY SHARES, WHICH HAVE BEEN
PLACED IN TERMS OF THE ISSUE FOR CASH; AND
- TO THE LONDON AND BRUSSELS STOCK EXCHANGES AND THE PARIS BOURSE FOR 7 250 000
NEW ORDINARY SHARES TO BE ADMITTED TO THEIR OFFICIAL LISTS.
VIRGINIA
9 JULY 1998
CORPORATE ADVISER
THE CORNER HOUSE
THE CORNER HOUSE (PTY) LTD
(REGISTRATION NUMBER 97/08185/07)
SPONSORING BROKER
RICE RINALDI
TURNER & CO
(A MEMBER OF THE JOHANNESBURG STOCK EXCHANGE)



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2019 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.