HARMONY GOLD MINING COMPANY LIMITED - Harmony publishes its annual reports and Notice of Annual General MeetingRelease Date: 29/10/2012 08:00:00 Code(s): HAR PDF(s):
Harmony publishes its annual reports and Notice of Annual General Meeting
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
JSE share code: HAR
(“Harmony” or “the company”)
Harmony publishes its annual reports and notice of annual general
Harmony Gold Mining Company Limited ("Harmony" or "the Company")
is pleased to announce that it has today published its Integrated
Annual Report, filed the Form 20F with the United States'
Securities and Exchange Commission and published the Sustainable
Development Report, all for the financial year ended 30 June 2012.
The abridged Integrated Annual Report, together with the notice of
the Annual General Meeting were posted to shareholders today.
The 2012 Integrated Annual Report incorporates an account of
Harmony's broader social, environmental and economic performance
throughout the report. The Sustainable Development Report for 2012
provides a more detailed account of the environmental, social and
governance aspects of Harmony's business. The Sustainable Development
Report 2012 has been compiled in accordance with the G3 guidelines
of the Global Reporting Initiative (GRI) and in alignment with the
principles of integrated reporting as recommended by the King Report
on Governance for South Africa and the King Code of Governance
Principles (collectively King III).
The annual financial statements forming part of the Integrated
Annual Report contain a change relating to taxation (detail of the
effect below), following the handing down of the judgement by the
Supreme Court of Appeal in the matter of the mining ringfencing
application by the South African Revenue Service („SARS?) on 1
October 2012. The judgement, which found in favour of SARS, is an
adjusting post-balance sheet event and as a result the effects
have been included in the 2012 financial year. Apart from the
stated changes, there are no further material modifications to the
results for the year ended 30 June 2012 which were published on 16
The following changes were recorded:
- The taxation credit in the consolidated income statement
increased by R60 million to R123 million, of which R154 million
was a credit to deferred taxation with a debit of R94 million
to normal taxation.
- Net profit from continuing operations and net profit for the
year each increased by R60 million to R2 053 million and R2 645
million, respectively. This resulted in an increase of 14 SA
cents per share in the total earnings per share and diluted
earnings per share to 614 SA cents per share and 612 SA cents
per share, respectively. Headline earnings per share ("HEPS")
and diluted headline earnings per share increased by 14 SA
cents per share to 565 SA cents and 563 SA cents, respectively.
- Total comprehensive income for the year increased by R60 million
to R4 232 million. As a result, retained earnings increased from
R3 247 million to R3 307 million.
- Income and mining taxes receivable decreased from R211 million
to R118 million, while deferred tax liabilities decreased from
R3 260 million to R3 106 million.
There was no impact on the cash flow statement.
PricewaterhouseCoopers Inc audited the annual financial statements
and their unqualified report is available for inspection at the
registered office of the Company.
The Annual General Meeting of the Company will be held at the
Michelangelo Hotel, 135 West Street, Nelson Mandela Square,
Sandton, Johannesburg, South Africa, on Wednesday, 28 November
2012, at 11:00 (SA time) to transact the business as stated in the
notice of the Annual General Meeting.
The reports for 2012 referred to in this statement as well as
additional detailed information on Harmony, including its regulatory
filings, press releases, stock exchange announcements and quarterly
reports are available on the Company's website at www.harmony.co.za.
For more details contact:
Investor Relations Manager
+27 (0) 11 411 2314 (office)
+27 (0) 82 759 1775 (mobile)
29 October 2012
J.P. Morgan Equities Limited
Date: 29/10/2012 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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