Go Back Email this Link to a friend

PAN AFRICAN RESOURCES PLC - Pan African's Acquisition of Evander Gold Mines Limited from Harmony becomes unconditional

Release Date: 15/02/2013 10:00:00      Code(s): PAN HAR       PDF(s):  
Pan African's Acquisition of Evander Gold Mines Limited from Harmony becomes unconditional

Pan African Resources PLC                                    Harmony Gold Mining Company Limited
(Incorporated and registered in England and                  Registration number 1950/038232/06
Wales under Companies Act 1985                               Incorporated in the Republic of South Africa
with registered number 3937466 on 25 February                ISIN: ZAE000015228
2000)                                                        NYSE code: HMY
AIM Code: PAF                                                JSE share code: HAR
JSE Code: PAN                                                (“Harmony”)
ISIN: GB0004300496
(“Pan African”)


   PAN AFRICAN’S ACQUISITION OF EVANDER GOLD MINES LIMITED (“EVANDER”) FROM
                    HARMONY (“TRANSACTION”) BECOMES UNCONDITIONAL


Pan African and Harmony are pleased to advise their shareholders that the last remaining condition
precedent to the Transaction has been fulfilled following receipt of the consent required in accordance
with section 11 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002.


Accordingly, the Transaction is now unconditional.


Pan African shall assume effective control over Evander on 28 February 2013.


Jan Nelson, CEO of Pan African said:
“We are delighted to finally take full control of Evander – a world class ore body and exceptional team
of people will ensure that Pan African continues to deliver profitable, sustainable stakeholder growth.
In addition to the 100koz of annual gold production, Evander also provides Pan African with a project
pipeline that provides for significant growth possibilities and flexibility.


I would like to thank Harmony on behalf of the board of Pan African for the manner and spirit in which
the transaction was concluded. We welcome the Evander team and look forward to an exciting
future.”


Graham Briggs, CEO of Harmony said:
“The proceeds from the Evander sale further strengthen Harmony’s cash position. We are leaving
Evander in the hands of a capable management team, who we believe will run the mine in a
sustainable manner.”


15 February 2013


Lead       Corporate     Adviser,      Transaction         Corporate Adviser to Harmony
Sponsor and JSE Sponsor to Pan African
One Capital                                                Merrill Lynch South Africa


Joint Corporate Adviser and Independent                    Sponsor to Harmony
Transaction Sponsor to Pan African
Nedbank Capital                                      J. P. Morgan Equities South Africa (Pty) Ltd


Legal Counsel to Pan African                         Legal Counsel to Harmony
Werksmans Inc.                                       Edward Nathan Sonnenbergs Inc.




PAN AFRICAN ENQUIRIES


South Africa                                       UK


Pan African Resources                              Canaccord Genuity Limited – Nomad and Joint Broker
Jan Nelson, Chief Executive Officer                Rob Collins / Peter Stewart / Sebastian Jones / Joe
+27 (0) 11 243 2900                                Weaving
                                                   +44 (0) 20 7523 8350


One Capital                                        finnCap Limited – Joint Broker
Sholto Simpson / Megan Young                       Elizabeth Johnson / Joanna Weaving
+27 (0) 11 550 5000                                +44 (0) 20 7220 0500


Vestor Investor Relations                          St James’s Corporate Services Limited
Louise Brugman                                     Phil Dexter
+27 (0) 11 787 3015                                +44 (0) 20 7499 3916
+27 83 504 1186


                                                   Gable Communications
                                                   Justine James
                                                   +44 (0) 20 7193 7463 / +44 (0) 7525 324431


For further information on Pan African, please visit the website at www.panafricanresources.com


HARMONY ENQUIRIES:

Henrika Basterfield
Investor Relations Officer
+27 (0) 82 759 1775 (mobile)


Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)

For further information on Harmony, please visit the website at www.harmony.co.za

Date: 15/02/2013 10:00:00 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.