| Wed 9 Sep 2009, 8:00 | | HAR - Harmony Proceeds With Pamodzi Free State Acquisition |
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HAR
HAPS
HAR - Harmony Proceeds With Pamodzi Free State Acquisition
Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
("Harmony" or "the company")
HARMONY PROCEEDS WITH PAMODZI FREE STATE ACQUISITION
Liquidators, National Union of Mineworkers, Solidarity and The Industrial
Development Corporation in support
Johannesburg. Wednesday, 9 September 2009. On 28 August 2009, Harmony Gold
Mining Company Limited (Harmony) suspended its negotiations with the provisional
liquidators of Pamodzi Gold Free State (Proprietary) Limited (in provisional
liquidation) (Pamodzi Gold Free State) in respect of its acquisition of the
assets of Pamodzi Gold Free State in order to allow all stakeholders an
opportunity to assess the proposed recapitalisation of the Pamodzi Gold group of
companies and the likelihood of it succeeding.
Harmony announced today that it had recommenced discussions with the provisional
liquidators of Pamodzi Gold Free State and that all of the acquisition
agreements have now been signed.
This follows further consideration by Harmony, the provisional liquidators of
Pamodzi Gold Free State, The Industrial Development Corporation, as a major
secured creditor, the National Union of Mineworkers and Solidarity of the
proposed recapitalisation of the Pamodzi Gold group of companies. These parties
have confirmed that they support Harmony`s acquisition and are of the view that
it is the most suitable option available to stakeholders generally.
Harmony CEO Graham Briggs said: "We are of the view that Harmony has offered a
fair price and that, when implemented, Harmony`s acquisition of the assets of
Pamodzi Gold Free State will provide a sustainable, long-term future for the
relevant stakeholders in the Free State. We have acted in good faith throughout
the negotiation process."
Ends.
For more details contact:
Frank Abbott
Interim Financial Director
on +27(0)82 800 4290
or
Bob Atkinson
Projects Director
on +27 (0)83 303 9815
or
Esha Brijmohan
Investor Relations Officer
on +27 (0)82 759 1775
Corporate Office:
Randfontein Office Park
P O Box 2
Randfontein
South Africa 1760
T +27 (11) 411 2000
www.harmony.co.za
Randfontein
09 September 2009
Sponsor:
J.P. Morgan Equities Limited
Date: 09/09/2009 08:00:12 Produced by the JSE SENS Department.
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