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Release Date: 01/11/2004 17:56:47      Code(s): HAR
ACTIONS DISADVANTAGE SHAREHOLDERS                                               
HARMONY GOLD MINING COMPANY LIMITED                                             
(Incorporated in the Republic of South Africa)                                  
(Registration number 1950/038232/06)                                            
Share code: HAR     ISIN: ZAE000015228                                          
Since Harmony announced its proposed merger with Gold Fields, it has become     
clear who comes first in the eyes of the Gold Fields" Board: its lawyers, not   
its shareholders.                                                               
Quite simply, the Gold Fields" Board is conducting a campaign to disenfranchise 
its shareholders.  To date it has:                                              
* Withheld the register of Gold Fields members in an attempt to prevent Gold    
Fields shareholders from receiving Harmony"s proposed merger document;          
* Threatened to interdict Harmony from posting the proposed merger document;    
* Challenged the Securities Regulation Panel"s approval of Harmony"s proposed   
merger and subsequently was one of the parties that requested a delay of the    
hearing for this challenge;                                                     
* Applied to the Competition Authorities to delay the early settlement offer;   
* Applied to the High Court to prevent Harmony from implementing its proposed   
merger at all.                                                                  
The Board of Gold Fields has a duty to act in the best interests of its         
shareholders.  None of these actions does this. We strongly believe the effect  
of these actions is to deprive Gold Fields" shareholders from benefiting from   
the significant value inherent in the Harmony proposed merger.                  
And there will be significant value:                                            
* Harmony"s proposed merger will create the world"s largest gold mining company 
with a compelling investment story;                                             
* Harmony believes it can deliver greater value from Gold Fields" South African 
assets than is currently being achieved;                                        
* Harmony would avoid the value leakage that has happened in Gold Fields"       
proposed transaction with IAMGold Corporation Inc.; and                         
* Harmony will ensure a strong future for South Africa"s gold mining industry.  
HARMONY: WHERE THE SHAREHOLDERS COME FIRST                                      
HARMONY"S PROPOSED MERGER WITH GOLDFIELDS:                                      
AFRICAN CHAMPION                                                                
Marian van der Walt                                                             
1 November 2004                                                                 
In connection with the proposed acquisition of Gold Fields, Harmony has filed a 
registration statement on Form F-4, which includes a preliminary prospectus and 
related exchange offer materials, to register the Harmony ordinary shares       
(including Harmony ordinary shares represented by Harmony American Depositary   
Shares (ADSs)) to be issued in exchange for Gold Fields ordinary shares held by 
Gold Fields shareholders located in the US and for Gold Fields ADSs held by Gold
Fields shareholders wherever located, as well as a Statement on Schedule TO.    
Investors and holders of Gold Fields securities are strongly advised to read the
registration statement and the preliminary prospectus, the related exchange     
offer materials and the final prospectus (when available), the Statement on     
Schedule TO and any other relevant documents filed with the Securities and      
Exchange Commission (SEC), as well as any amendments and supplements to those   
documents, because they will contain important information.  Investors and      
holders of Gold Fields securities may obtain free copies of the registration    
statement, the preliminary and final prospectus (when available), related       
exchange offer materials and the Statement on Schedule TO, as well as other     
relevant documents filed or to be filed with the SEC, at the SEC"s web site at  
www.sec.gov.  The preliminary prospectus and other transaction-related documents
may be obtained for free from MacKenzie Partners, Inc., the information agent   
for the U.S. offer, at the following address: 105 Madison Avenue, New York, New 
York 10016; telephone 1 (212) 929 5500 (call collect) or 1 (800) 322 2885 (toll-
free call); e-mail proxy@mackenziepartners.com. Investors and security holders  
may obtain a free copy of the Form 20-F filed with the SEC on October 5, 2004,  
as amended, and any other documents filed with or furnished to the SEC by       
Harmony at www.sec.gov.                                                         
This communication is for information purposes only.  It shall not constitute an
offer to purchase or exchange or the solicitation of an offer to sell or        
exchange any securities of Gold Fields or an offer to sell or exchange or the   
solicitation of an offer to buy or exchange any securities of Harmony, nor shall
there be any sale or exchange of securities in any jurisdiction in which such   
offer, solicitation or sale or exchange would be unlawful prior to the          
registration or qualification under the laws of such jurisdiction.  The         
distribution of this communication may, in some countries, be restricted by law 
or regulation.  Accordingly, persons who come into possession of this document  
should inform themselves of and observe these restrictions.  The solicitation of
offers to buy Gold Fields ordinary shares (including Gold Fields ordinary shares
represented by Gold Fields ADSs) in the United States will only be made pursuant
to a prospectus and related offer materials that Harmony expects to send to     
holders of Gold Fields securities.  The Harmony ordinary shares (including      
Harmony ordinary shares represented by Harmony ADSs) may not be sold, nor may   
offers to buy be accepted, in the United States prior to the time the           
registration statement becomes effective.  No offering of securities shall be   
made in the United States except by means of a prospectus meeting the           
requirements of Section 10 of the United States Securities Act of 1933, as      
Joint financial advisers and                                                    
investment banks               Co-financial advisers                            
HSBC          Investec         Merrill Lynch  Morgan                            
Joint transaction sponsors     Attorneys                                        
Investec      Merrill Lynch    Cliffe Dekker  Hogan and                         
Date: 01/11/2004 05:56:58 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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