HAR - Harmony - Randfontein transaction effective Release Date: 21/11/2008 16:13:25 Code(s): HAR HAR - Harmony - Randfontein transaction effective
HARMONY GOLD MINING COMPANY LIMITED
Incorporated in the Republic of South Africa
Registration Number 1950/038232/06
("Harmony" or "Company")
JSE Share code: HAR
NYSE Share code: HMY
ISIN Code: ZAE000015228
RANDFONTEIN TRANSACTION EFFECTIVE
Johannesburg, 21 November 2008. Harmony Gold Mining Company Limited
("Harmony") is pleased to announce that all conditions precedent in respect
of the Randfontein transaction have been met and that the transaction is
effective as from today. Shareholders` attention is drawn to the initial
announcement of the transaction made on 19 December 2007 and the subsequent
announcement made on 24 October 2008, containing the details of the
transaction.
The first tranche of the consideration price, being US$40 million has been
received. A further US$157 million, plus interest thereon at 5% per annum,
will be received on 22 April 2009 and the balance of the purchase
consideration of approximately US$12 million as soon as the second stage of
the transaction, which relates to Harmony`s Old Randfontein assets is
finalised; this is anticipated to be on or shortly after 22 April 2009.
"We are excited to be part of a unique new business development, one that
offers the potential of creating wealth for our investors. We wish the
management of Rand Uranium (Pty) Limited well and look forward to a mutually
beneficial partnership with Pamodzi Resources Fund 1 LP and their investors,
being affiliates of First Reserve and AMCI Capital", said Graham Briggs,
Chief Executive Officer of Harmony.
Randfontein
21 November 2008
Sponsor
Merrill Lynch South Africa (Proprietary) Limited
Date: 21/11/2008 16:13:25 Supplied by www.sharenet.co.za
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