Go Back Email this Link to a friend


Harmony - Harmony Disposes Of Its Remaining Shares In Gold Fields Limited

Release Date: 16/11/2005 14:34:04      Code(s): HAR
Harmony - Harmony Disposes Of Its Remaining Shares In Gold Fields Limited       
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE 
UNITED STATES, CANADA OR JAPAN                                                  
Harmony Gold Mining Company Limited                                             
(Incorporated in the Republic of South Africa)                                  
(Registration number 1950/038232/06)                                            
Share code: HAR & ISIN: ZAE000015228                                            
NYSE: HMY                                                                       
("Harmony")                                                                     
HARMONY DISPOSES OF ITS REMAINING SHARES IN GOLD FIELDS LIMITED                 
Johannesburg, Wednesday, 16 November 2005 - Harmony (NYSE: HMY; JSE: HAR) today 
announced that it had disposed of its remaining 26,5 Million Gold Fields Limited
shares at an average price of R93.228 per share.  The process was concluded     
through market disposals which commenced on 10 November 2005 and an open market 
offering on 15 and 16 November 2005.                                            
"The disposal of our remaining shares in Gold Fields has significantly          
strengthened our balance sheet.  In addition, with Harmony"s re-structuring     
process being concluded during the previous quarter, the company is well-       
positioned to fully exploit the current higher gold price in Rand/kg terms.     
This bodes well for Harmony who through the development of our range of growth  
projects in South Africa and Papua New Guinea will be transformed from a high   
cost marginal producer to producing high margin quality ounces", commented      
Harmony CEO, Bernard Swanepoel.                                                 
Merrill Lynch South Africa acted as sole bookrunner for this transaction.       
A full SENS announcement with more details regarding the disposal will follow.  
ENDS                                                                            
Issued by Harmony Gold Mining Company Limited                                   
16 November 2005                                                                
For more details contact:                                                       
Bernard Swanepoel                                                               
Chief Executive                                                                 
on +27(0)83 303 9922                                                            
or                                                                              
Ferdi Dippenaar                                                                 
Marketing Director                                                              
on +27(0)82 807 3684                                                            
or                                                                              
Philip Kotze                                                                    
Executive, Investor Relations                                                   
on +27(0)83 453 0405                                                            
Investor Relations Officer                                                      
Vusi Magadana                                                                   
Office: +27 11 684 0149                                                         
Mobile: +27(0)72 157 5986                                                       
vusi.magandan@harmony.co.za                                                     
or                                                                              
Mark Durr                                                                       
Merrill Lynch South Africa (Pty) Limited                                        
+2711 305 5811                                                                  
+2783 604 1170                                                                  
This announcement does not constitute an offer of securities for sale or a      
solicitation of an offer to purchase securities in the United States or any     
other jurisdiction in which such an offer or solicitation is unlawful. The      
securities referred to in this announcement have not been and will not be       
registered under the U.S. Securities Act of 1933, as amended, and may not be    
offered or sold in the United States, except pursuant to registration or an     
applicable exemption from registration.  No public offering of securities is    
being made into the United States.                                              
Within the United Kingdom, this announcement is directed only at persons who    
have professional experience in matters relating to investments who fall within 
article 19(5) of the United Kingdom Financial Services and Markets Act 2000     
(Financial Promotion) Order 2005 (as amended) (the `Order") or are persons      
falling within article 49(2)(a) to (d) (`high net worth individuals,            
unincorporated associations etc.") of the Order (all such persons together being
referred to as `relevant persons").  This communication must not be acted on or 
relied on by persons who are not relevant persons.  Any investment or investment
activity to which this communication relates is available only to relevant      
persons and will be engaged in only with relevant persons. As regards all       
persons other than relevant persons, the details of the placing and bookbuilding
set out in this announcement are for information purposes only.                 
Forward-looking Statements                                                      
Statements in this communication include "forward-looking statements" that      
express or imply expectations of future events or results.  Forward-looking     
statements are statements that are not historical facts.  These statements      
include financial projections and estimates and their underlying assumptions,   
statements regarding plans, objectives and expectations with respect to future  
operations, products and services, and statements regarding future performance. 
Forward-looking statements are generally identified by the words "expect,"      
"anticipates," "believes," "intends," "estimates" and similar expressions.  All 
forward-looking statements involve a number of risks, uncertainties and other   
factors, and Harmony cannot give assurances that such statements will prove to  
be correct.  Risks, uncertainties and other factors that could cause actual     
events or results to differ from those expressed or implied by the forward-     
looking statements include, without limitation, the satisfaction of closing     
conditions, the acceptance or rejection of any agreement by regulators, delays  
in the regulatory processes, changes in the economic or political situation in  
South Africa, the European Union, the United States of America and/or any other 
relevant jurisdiction, changes in the gold industry within any such country or  
area or worldwide and the performance of (and cost savings realised by) Harmony.
Although Harmony"s management believes that the expectations reflected in such  
forward-looking statements are reasonable, investors and holders of Harmony"s   
securities are cautioned that forward-looking information and statements are    
subject to various risks and uncertainties, many of which are difficult to      
predict and generally beyond the control of Harmony, that could cause actual    
results and developments to differ materially from those expressed in, or       
implied or projected by, the forward-looking information and statements.        
Harmony does not undertake any obligation to update any forward-looking         
information or statements.                                                      
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      
Date: 16/11/2005 02:34:08 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.