Go Back Email this Link to a friend


The acquisition by ARMgold and Harmony of certain Free State Assets from

Release Date: 10/04/2002 17:30:07      Code(s): HAR
Anglogold Limited ("AngloGold")
African Rainbow Minerals Gold Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/015869/06)
("ARMgold")
Harmony Gold Mining Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/038232/06)
Share code: HAR   ISIN: ZAE000015228
("Harmony")
The acquisition by ARMgold and Harmony of certain Free State Assets from
Anglogold Limited ("AngloGold")
Further to the joint announcement published by ARMgold and Harmony on 1
February 2002 regarding the acquisition of certain assets and businesses in
the Free State goldfields (the "acquisition assets") from AngloGold (the
"acquisition"), ARMgold and Harmony are pleased to advise that all of the
remaining conditions precedent to the acquisition have been fulfilled and
that ARMgold and Harmony, through a jointly held company ("Freegold"), have
accordingly acquired the acquisition assets from AngloGold, as going
concerns, with effect from 1 January 2002.
The consideration payable in terms of the acquisition is an amount of R2,2
billion plus an amount equal to any liability for tax payable by AngloGold
pursuant to the sale by it of the acquisition assets ("the additional
amount"). Accordingly, Freegold will pay to AngloGold an amount of R2.2
billion, of which R1.8 billion (equally funded by ARMgold and Harmony) will
be payable, in cash, by no later than 23 April 2002, together with interest
thereon at the call rate reckoned from 1 January 2002 to the date
immediately prior to the date of payment, and the balance of R400 million
will be payable in cash on 1 January 2005. Freegold will pay to AngloGold
the additional amount five days prior to the date upon which the
corresponding liability is payable by AngloGold.
Virginia                              Sandton
10 April 2002                         10 April 2002
Advisors to ARMgold
BOE Merchant Bank
A Division of BOE Bank Limited
(Registration number 1951/000847/06)
Legal adviser to ARMgold
Bowman Gilfillan Inc.
(Registration number 1998/021409/21)
Advisors to Harmony
JPMorgan Chase Bank
(Registration number 2001/016069/10)
Sponsor to Harmony
  J.P. Morgan Equities Limited
  (Registration number 1995/011815/06)
Legal advisor to Harmony
  Cliffe Dekker Inc
  (Registration number 1998/018173/21)
Reporting accountants and auditors to Harmony
  PricewaterhouseCoopers Inc.
  Chartered Accountants (SA)
  Registered Accountants & Auditors
  (Registration number 1998/012055/21)



                                        
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.