Go Back Email this Link to a friend


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                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          



                                        
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.