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Harmony - HARMONY CONCLUDES AVGOLD ACQUISITION AS ALL CONDITIONS PRECEDENT
ARE MET
Harmony Gold Mining Company Limited
JSE: HAR
NYSE: HMY
ISIN No.: ZAE000015228
HARMONY CONCLUDES AVGOLD ACQUISITION AS ALL CONDITIONS PRECEDENT ARE MET
Johannesburg, Tuesday 11 May 2004 - Harmony Gold Mining Company Limited
(NYSE: HMY JSE: HAR) today announced that following a meeting held on 3 May 2004
at which the required majority of Avgold shareholders approved the scheme of
arrangement proposed by Harmony between Avgold and its shareholders in terms of
section 311 of the Companies Act, 1973 (Act 61 of 1973), the scheme was
sanctioned by the High Court of South Africa and the order of the court
subsequently registered by the Registrar of Companies.
In terms of the scheme Harmony will, on Friday 21 May 2004, acquire the entire
issued share capital of Avgold in return for the issue of one fully paid-up
Harmony share for every 10 Avgold shares held.
With the registration of the Order of Court by the Registrar of Companies, the
last of the conditions precedent has been fulfilled and the scheme will become
operative on Monday 24 May 2004.
"We are pleased that we have finally concluded the acquisition of Avgold. The
inclusion of the Target Mine enhances our pipeline of quality growth projects
and is another milestone in achieving our short term production target of 4
million ounces per annum," commented Bernard Swanepoel, Chief Executive.
Remaining salient dates
Friday 14 May - Last day to trade for Avgold shareholders wishing to receive
the scheme consideration
Monday 17 May - Suspension of listing of Avgold shares at commencement of
trading
Friday 21 May - Being the date on which Avgold shareholders must be recorded
in the share register of Avgold to receive the scheme
consideration
Monday 24 May - Operative date of the scheme at commencement of trading and
Scheme consideration posted to certificated scheme
participants
Tuesday 25 May - Termination of listing of Avgold shares on the JSE at
commencement of trading
11 May 2004
For more details contact:
Bernard Swanepoel
on +27(0)83 303 9922
or
Ferdi Dippenaar
on +27(0)82 807 3684
Investor Relations Officer
Corne Bobbert
Tel +27 11 684 0146
Mobile +27(0)83 380 6614
cbobbert@harmony.co.za
www.harmony.co.za
ENDS
Date: 11/05/2004 02:39:34 PM Produced by the JSE SENS Department
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