HARMONY ANNOUNCEMENTRelease Date: 22/03/2001 09:29:09 Code(s): HAR HARO
HARMONY GOLD MINING COMPANY LIMITED
REGISTRATION NUMBER 1950/038232/06)
HARMONY WELCOMES UNANIMOUS NEW HAMPTON RECOMMENDATION AND NORMANDY ACCEPTANCE
Harmony Gold Mining Company Limited ("Harmony") is pleased to announce that
Normandy Mining Limited ("Normandy") has accepted Harmony's offer for its
remaining 13.2% shareholding in New Hampton Goldfields Limited ("New Hampton").
Harmony is now entitled to 36 % of the shares in New Hampton.
In addition, the New Hampton board, including the managing director Mr Ed
Eshuys, has recommended that shareholders accept Harmony's unconditional offer
immediately, or "run the risk of being locked in as minority shareholders".
All New Hampton directors have indicated their intention to accept the offer
for their individual holdings.
"The fact that no other offer has emerged for New Hampton clearly demonstrates
that the Harmony offer represents an attractive opportunity for New Hampton
shareholders," Harmony chief executive Bernard Swanepoel said.
"Our offer is scheduled to close on Monday 26 March, and we encourage
shareholders and option holders to accept as soon as possible in accordance
with the procedures set out in the Bidder's Statement".
"As we said when we announced our offer in December, we see New Hampton as
providing Harmony an opportunity to commence gold mining operations in
Australia, particularly in the prospective and strategic Kalgoorlie region."
Harmony recently announced an increase in its cash offer for all the issued
capital of New Hampton to A$0.275 per share from its initial A$0.265 offer
price. In its report dated 28 February 2001, New Hampton's independent expert,
KPMG Corporate Finance, stated that Harmony's offer is fair and reasonable.
For further information please contact:
Tel: +27 11 412 1450 / +27 82 807 3684
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