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harmony/ Simane/ IDC - Acquisition of shares in Harmony by Simane

Release Date: 07/09/2001 17:53:25      Code(s): HAR
Harmony Gold Mining Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/038232/06)
Simane Security Investments (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/014201/07)
The Industrial Development Corporation of South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1940/038232/06)
(the "IDC")
Acquisition of shares in Harmony by Simane
1. Simane agreement
Harmony, Simane and the IDC are pleased to announce that they have reached
agreement in terms of which Simane has subscribed for 222 300 ordinary
shares in Harmony ("Harmony shares") at a price of R37,86 per Harmony share
("the agreement") which represents a discount of 10% to the weighted average
traded price over the 30 business days prior to the date that the issue
price was agreed by the directors of Harmony ("the issue price"). The 222
300 Harmony shares will be issued under the general authority held by the
directors of Harmony to issue shares for cash in terms of the Listings
Requirements of the JSE Securities Exchange South Africa ("the general
2. Specific issue of shares
At a general meeting of ordinary shareholders of Harmony ("Harmony
shareholders") held on 18 May 2001, specific authority was granted by
Harmony shareholders, inter alia, for the issue of 222 222 Harmony shares to
Komanani Mining (Proprietary) Limited ("Komanani") and 10 736 628 Harmony
shares to the IDC. Although the IDC subscribed for Harmony shares pursuant
to the specific authority, Komanani did not. Consequently the IDC retained
full voting rights in respect of the 10 736 628 Harmony shares (the "voting
The terms and conditions of the agreement are substantially similar to the
terms and conditions previously agreed to between the IDC, Harmony and
Komanani in so far as those terms and conditions concerned Komanani and as a
- the 222 300 Harmony shares subscribed for by Simane under the general
issue may not be disposed of for a period of 18 months following their
issue; and
- the voting rights are to be transferred to Simane following completion of
the general issue.
7 September 2001
Sponsor to Harmony
JP Morgan
Legal adviser to Harmony
Cliffe Dekkker Fuller Moore Inc
(Registration number 1998/018173/21)
Legal adviser to Simane
Langa Attorneys

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