Harmony Gold Mining Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/038232/06)
Share code: HAR ISIN: ZAE000015228
("Harmony" or "the Company")
Successful completion of an issue of shares for cash
The board of directors of Harmony is pleased to announce the successful
completion of an international issue of 8,500,000 new ordinary shares in
Harmony with a par value of 50 cents each ("Harmony shares") for a cash
price (including premium) of R139.65 (US$13.20) per Harmony share.
The issue price was determined following a book-building process which
commenced at the close of business on Monday, 29 April 2002, and closed
prior to the commencement of business on Tuesday, 30 April 2002. The issue
price of R139.65 per Harmony share represents a discount of 5% to the
closing price of the Harmony shares on the JSE Securities Exchange ("JSE")
on Monday, 29 April 2002 and a premium of 8,2% to the weighted average
traded price of Harmony shares over the 30 trading days prior to the date
that the issue price was determined.
The pro-forma effects of the issue on earnings and net asset value per
Harmony share on the basis set out below are as follows:
Before After % Increase /
Net asset and tangible asset value per 3853 4364 13
ordinary share (cents)
Earnings per share (cents) 386 381 (1)
Headline earnings per share (cents) 383 378 (1)
Fully diluted earnings per share 374 369 (1)
1. The pro-forma consolidated income statement has been compiled from the
consolidated income statement of Harmony for three month period ended
2. The after column on the pro-forma consolidated income statement relates
to the following:
- interest of 12% per annum received on cash generated by the shares
issued as indicated below; and
- tax effects related to the above.
3. The pro-forma consolidated balance sheet has been compiled from the
consolidated balance sheet of Harmony as at 31 March 2002, adjusted for
8,500,000 Harmony shares.
4. Fully diluted earnings per share is calculated on the average number of
diluted shares in issue for the quarter ended 31 March 2002: 164,7 million.
Diluted earnings per share is calculated on the listed warrants issued.
The Harmony shares are to be listed on the JSE. Application will be made for
the listing of the Harmony shares on the Official List of the United Kingdom
Listing Authority and for admission to trading on the London Stock Exchange.
Application is also expected to be made for listing of the Harmony shares on
the Premier March of the Euronext Paris.
30 April 2002