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Harmony Gold Mining Company Limited - Exercise of the underwriters' option

Release Date: 27/06/2001 08:06:29      Code(s): HAR
on the specific issue and issue of shares to non-public shareholders
(Incorporated in the Republic of South Africa)
(Registration number 1950/038232/06)
("Harmony" or "the Company")
Exercise of the underwriters' option on the specific issue and issue of
shares to non-public shareholders
Further to the announcement dated 22 June 2001, the board of directors of
Harmony is pleased to announce that J.P. Morgan Securities Ltd ("JPMorgan"),
lead manager of Harmony's international specific issue for cash of ordinary
shares in Harmony ("Harmony shares"), has exercised the option ("the
underwriters' option") to acquire an additional 3,532,500 Harmony shares and
1,177,500 warrants, each warrant entitling the holder to subscribe for one
Harmony share on or before 29 June 2003 on the terms set out in the circular
to shareholders of Harmony dated 17 May 2001 ("warrants"), (collectively
"the specific issue"). The option was exercised solely for the purpose of
covering over-allotments made in connection with the specific issue. The
total size of the specific issue is therefore 27,082,500 ordinary shares and
9,027,500 warrants. The issue price, financial effects, fair and reasonable
opinions, details relating to the issue to non-public shareholders and
listings and JSE Securities Exchange timetable remain as detailed in the
announcement dated 22 June 2001.
5,9% of the total specific issue (including the underwriters' option), has
been issued to certain directors and executive officers of Harmony.  Prior
to the specific issue the directors and executive officers of Harmony held
3,7% of the Harmony shares then in issue.  Details of the Harmony shares
issued to directors are as follows:
Director        Nature of   Date of       Price per  Number of   Amount
                holding     settlement    share      shares
Adam Fleming    Beneficial  29 June 2001  R43.00     1 125 000   R48 375 000
Bernard
Swanepoel       Beneficial  29 June 2001  R43.00     80 500      R3 461 500
Frank Abbott    Beneficial  29 June 2001  R43.00     80 100      R3 444 300
Ted Grobicki    Beneficial  29 June 2001  R43.00     80 100      R3 444 300
Ferdi Dippenaar Beneficial  29 June 2001  R43.00     53 400      R2 296 200
Randfontein
26 June 2001
Financial adviser and Sponsor
JP Morgan
Legal adviser
Cliffe Dekker Fuller Moore Inc.
Reporting accountants and auditors
PricewaterhouseCoopers Inc.
Independent merchant bank
RMB Resources



                                        
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