Harmony Gold Mining Co. Ltd. - Harmony moves listing to New York Stock Exchange Release Date: 15/11/2002 15:25:06 Code(s): HAR
Harmony Gold Mining Co. Ltd. - Harmony moves listing to New York Stock Exchange
Harmony Gold Mining Co. Ltd
ISIN No.: ZAE000015228
JSE : HAR
HARMONY MOVES LISTING TO NYSE - "HMY"
Johannesburg - 15 November 2002 - Harmony Gold Mining
Company Limited. (NASDAQ: HGMCY), the 5th largest gold
producer in the world, announced today that it will transfer its stock
listing to the New York Stock Exchange (NYSE).
Harmony`s stock will begin trading on the NYSE under the ticker
symbol "HMY" on Wednesday, November 27, 2002. The Harmony
warrants, currently trading under the code "HGMCW" on NASDAQ,
will be replaced by the code "HMYWS".
"This move represents an important milestone in our growth as an
independent public company over the past 7 years. The listing reflects
our commitment to the highest standards of corporate governance and
accountability," said chief executive Bernard Swanepoel. "Although
Harmony is one of the most actively traded ADRs on NASDAQ, we
believe that the NYSE listing will improve Harmony`s visibility among a
wider base of investors while also lessening the volatility of our stock
for current investors. We greatly appreciate and acknowledge the
support that we have received from NASDAQ over the years."
"My partners at the Exchange and I are privileged to welcome
Harmony to our listed company family," said NYSE chairman and
CEO Dick Grasso. "Our goal is to provide the highest quality market
possible for investors and qualifying issuers, and it is especially
gratifying when an outstanding enterprise such as Harmony recognizes the
benefits of a NYSE listing. We look forward to our new partnership with Harmony,
and to serving the company and its shareholders."
About Harmony Gold Mining Company Limited
Harmony has, during the past financial year, continued with its successful
strategy of growth - through acquisitions as well as organically. This strategy
has, over the past seven years, created significant value for all stakeholders.
Harmony has completed 23 acquisition to date, growing its production base from
approximately 580 000 ounces in 1995 to an annualised 3.1 million ounces for the
2002/2003 financial year.
Year on year, the company`s cash operating profits increased from R673 million
R2 591 million for the 2001/02 financial year. Earnings per share increased from
112 SA cents to 1 094 SA cents over the same period. A dividend of 500 SA cents
per share was declared for the financial year ended June 2002.
Over the same period the company`s reserve base has increased in both quantity
and quality, from approximately 8 million ounces in 1995 to an estimated 49
million ounces by June 2002. Through the success of its strategy, Harmony has
become the fifth largest gold producer in the world, with operations in mainly
South Africa and Australia. The company has a highly prospective exploration
programme focussed on South Africa, Australia, Peru and Russia.
Date: 15/11/2002 03:24:42 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department