Go Back Email this Link to a friend


Harmony disposes of 14% of its investment in African Rainbow Minerals Limited

Release Date: 20/04/2005 17:29:02      Code(s): HAR
Harmony disposes of 14% of its investment in African Rainbow Minerals Limited   
Harmony Gold Mining Company Limited                                             
(Incorporated in the Republic of South Africa)                                  
(Registration number 1950/038232/06)                                            
Share code: HAR     ISIN: ZAE000015228                                          
("Harmony")                                                                     
20 April 2005                                                                   
Harmony disposes of 14% of its investment in African Rainbow Minerals Limited   
("ARM")                                                                         
In line with Harmony"s stated commitment to unwind the Harmony / ARM cross      
shareholding, Harmony is pleased to announce that it has disposed of 14% of its 
investment in ARM ("the ARM shares") to The ARM Broad-Based Empowerment Trust   
("the Trust") for a cash consideration of R829 827 460 representing a price of  
R29.00 per ARM share.                                                           
The Trust has been established for the purpose of warehousing the ARM shares to 
further facilitate broad-based empowerment in ARM"s shareholder base. The       
acquisition by the Trust increases ARM"s Black Economic Empowerment ("BEE")     
shareholding from 43% to 57%. ARM is Harmony"s largest shareholder and BEE      
partner with 16.2% of Harmony.                                                  
"These funds will be allocated towards Harmony"s numerous growth projects       
currently under construction where Harmony believes it is able to generate a    
higher return on investment. It also further demonstrates Harmony"s commitment  
to South Africa and the South African gold mining industry," commented Harmony  
CE, Bernard Swanepoel.                                                          
ENDS                                                                            
Corporate advisor                                                               
Investec Corporate Finance                                                      
Legal advisor                                                                   
Cliffe Dekker                                                                   
Transactional sponsor                                                           
Investec Bank Limited                                                           
Harmony                                                                         
Ferdi Dippenaar     +27 11 684 0140     +27 82 807 3684                         
Brenton Saunders    +27 11 684 0146     +27 83 607 4060                         
Vusi Magadana       +27 11 684 0140     +27 72 157 5986                         
Beachhead Media & Investor Relations                                            
Jennifer Cohen      +27 11 214 2401     +27 82 468 6469                         
Patrick Lawlor      +27 11 214 2410     +27 82 459 6709                         
Unless the context otherwise requires, the definitions contained in the offer   
document or the registration statement sent to Gold Fields shareholders have the
same meaning in this announcement.                                              
The directors of Harmony accept responsibility for the information contained in 
this announcement.  To the best of the knowledge and belief of the directors of 
Harmony (who have taken all reasonable care to ensure that such is the case),   
the information contained in this announcement is in accordance with the facts  
and does not omit anything likely to affect the import of such information.     
In connection with the proposed acquisition of Gold Fields, Harmony has filed a 
registration statement (File no: 333-120975) on Form F-4 (which was declared    
effective by the Securities and Exchange Commission ("SEC") on February 28,     
2005) and filed a final prospectus, dated February 25, 2005, with the SEC       
pursuant to Rule 424(b)(3) of the Securities Act of 1933, 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 United   
States 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, the  
related exchange offer materials and the final prospectus, the Statement on     
Schedule TO and any other relevant documents filed with the SEC, as well as any 
amendments and supplements to those documents, because they contain important   
information. Investors and holders of Gold Fields securities may obtain free    
copies of the registration statement, related exchange offer materials, the     
final prospectus 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. Investors and holders of Gold Fields securities will receive       
information at an appropriate time on how to obtain transaction-related         
documents for free from Harmony or its duly designated agent.  The final        
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.                                                    
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            
communication 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 has   
sent 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      
amended.                                                                        
Date: 20/04/2005 05:29:09 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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.