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
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.
Issued by Harmony Gold Mining Company Limited
16 November 2005
For more details contact:
on +27(0)83 303 9922
on +27(0)82 807 3684
Executive, Investor Relations
on +27(0)83 453 0405
Investor Relations Officer
Office: +27 11 684 0149
Mobile: +27(0)72 157 5986
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.
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