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AVGOLD/ HARMONY - RESULTS OF THE SCHEME MEETING
Avgold Limited
(Registration number 1990/007025/06)
(Incorporated in the Republic of South Africa)
JSE share code: AVG
ISIN: ZAE000012175
("Avgold")
Harmony Gold Mining Company Limited
(Registration number 1950/038232/06)
(Incorporated in the Republic of South Africa)
JSE share code: HAR
ISIN: ZAE000015228
("Harmony")
RESULTS OF THE SCHEME MEETING
1. Results Of The Scheme Meeting
Shareholders of Avgold and Harmony (collectively "shareholders") are
referred to the announcement dated 26 March 2004 in which shareholders were
advised that Harmony wishes to acquire 100% of the issued share capital of
Avgold and has therefore proposed a scheme of arrangement ("the scheme") in
terms of section 311 of the Companies Act 61 of 1973, as amended, ("the
Act"), between Avgold and its shareholders, other than Harmony and its
subsidiaries, to acquire all the Avgold shares other than those held by
Harmony.
Shareholders are advised that at the scheme meeting held today, the scheme
was approved with 96.91% of Avgold scheme members present or represented at
the scheme meeting having voted in favour of the scheme.
2. Conditions Precedent
The implementation of the scheme is still subject to the following
conditions precedent:
* the scheme being sanctioned by the High Court of South Africa
(Transvaal Provincial Division); and
* a certified copy of the Order of Court sanctioning the scheme being
duly registered by the Registrar of Companies in terms of the Act.
3. Further Announcement
A further announcement regarding the fulfilment of the remaining conditions
precedent and the salient dates for the implementation of the scheme will
be made in due course.
Johannesburg
3 May 2004
Independent advisor and sponsor to Avgold:
Merrill Lynch South Africa (Pty) Limited
Attorneys to Avgold:
Deneys Reitz Inc.
Reporting accountants:
PricewaterhouseCoopers Inc.
Independent technical advisor:
Steffen, Robertson and Kirsten
Financial advisor to Harmony:
JP Morgan Chase Bank
Sponsor to Harmony:
JP Morgan Equities Limited
Attorneys to Harmony:
Cliffe Dekker Inc.
Date: 03/05/2004 02:23:05 PM Produced by the JSE SENS Department
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