on the specific issue and issue of shares to non-public shareholders
(Incorporated in the Republic of South Africa)
(Registration number 1950/038232/06)
("Harmony" or "the Company")
Exercise of the underwriters' option on the specific issue and issue of
shares to non-public shareholders
Further to the announcement dated 22 June 2001, the board of directors of
Harmony is pleased to announce that J.P. Morgan Securities Ltd ("JPMorgan"),
lead manager of Harmony's international specific issue for cash of ordinary
shares in Harmony ("Harmony shares"), has exercised the option ("the
underwriters' option") to acquire an additional 3,532,500 Harmony shares and
1,177,500 warrants, each warrant entitling the holder to subscribe for one
Harmony share on or before 29 June 2003 on the terms set out in the circular
to shareholders of Harmony dated 17 May 2001 ("warrants"), (collectively
"the specific issue"). The option was exercised solely for the purpose of
covering over-allotments made in connection with the specific issue. The
total size of the specific issue is therefore 27,082,500 ordinary shares and
9,027,500 warrants. The issue price, financial effects, fair and reasonable
opinions, details relating to the issue to non-public shareholders and
listings and JSE Securities Exchange timetable remain as detailed in the
announcement dated 22 June 2001.
5,9% of the total specific issue (including the underwriters' option), has
been issued to certain directors and executive officers of Harmony. Prior
to the specific issue the directors and executive officers of Harmony held
3,7% of the Harmony shares then in issue. Details of the Harmony shares
issued to directors are as follows:
Director Nature of Date of Price per Number of Amount
holding settlement share shares
Adam Fleming Beneficial 29 June 2001 R43.00 1 125 000 R48 375 000
Bernard
Swanepoel Beneficial 29 June 2001 R43.00 80 500 R3 461 500
Frank Abbott Beneficial 29 June 2001 R43.00 80 100 R3 444 300
Ted Grobicki Beneficial 29 June 2001 R43.00 80 100 R3 444 300
Ferdi Dippenaar Beneficial 29 June 2001 R43.00 53 400 R2 296 200
Randfontein
26 June 2001
Financial adviser and Sponsor
JP Morgan
Legal adviser
Cliffe Dekker Fuller Moore Inc.
Reporting accountants and auditors
PricewaterhouseCoopers Inc.
Independent merchant bank
RMB Resources
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