Harmony Gold Mining Company Limited: Convertible Bond Issue
March 31 2004 - 12:05PM
PR Newswire (US)
Harmony Gold Mining Company Limited: Convertible Bond Issue LONDON,
March 31 /PRNewswire/ -- Incorporated in the Republic of South
Africa (Registration number 1950/038232/06) Share Code: HAR
ISIN:ZAE 000015228 Harmony Gold Mining Company Ltd ("Harmony")
today announces that it intends to issue ZAR1,700 million (c.US$270
million) of convertible bonds (the "Bonds"). The proceeds of the
issue will be used primarily to refinance Harmony's existing South
African Rand debt, hence benefiting from the attractive financing
opportunities currently available in the convertible bond market.
Terms of the Bonds Subject to the terms and conditions of the
Bonds, the Bonds will be issued by Harmony and will be convertible
into approximately 14 million new Harmony ordinary shares (the
"Shares"), representing approximately 5% of Harmony's issued
ordinary share capital. The Bonds will be denominated in Rand and
will be issued at 100% of their principal amount. The coupon on the
Bonds will be 4.875% payable semi-annually in arrears and the
conversion price will be ZAR121. The Bonds are expected to settle
on or about 21 May 2004. Applications will be made for the Bonds to
be admitted to the Official List of the UK Listing Authority and to
the London Stock Exchange plc's market for listed securities. J.P.
Morgan Securities Ltd. is the lead manager of the Bond issue.
Background information Harmony Gold Mining Company Limited Harmony
is the largest gold producer in South Africa and the sixth largest
gold producer in the world. Harmony is listed on stock exchanges in
Johannesburg, New York, London, Paris, Berlin and Brussels, and has
a market capitalisation of approximately US$ 4.0 billion. Since
becoming an independent mining company in 1995, Harmony has
implemented a successful strategy of delivering shareholder value
by pursuing a focused strategy of growth through acquisitions.
Harmony has completed some 25 acquisitions, many of which have also
provided the company with opportunities for significant organic
growth. As at 30 June 2003, Harmony's mining operations in South
Africa and Australia reported in aggregate total proven and
probable reserves of approximately 61.9 million ounces, and a gold
resource in excess of 410 million ounces. In the United Kingdom,
this announcement is directed exclusively at persons who have
professional experience in matters relating to investments who fall
within Article 19 or 49 of the Financial Services and Markets Act
2000 (Financial Promotion) Order 2001. In the United Kingdom, the
Bonds will only be issued to such persons. This announcement is not
for distribution in or into the United States or to US persons.
This announcement is not an offer of securities for sale in the
United States or to US persons. The securities referred to herein
may not be offered or sold in the United States or to US persons
unless they are registered under the US Securities Act of 1933 or
exempt from registration. There will be no public offering of the
securities referred to herein in the United States. For further
information please contact: Ferdi Dippenaar Harmony +27 82 807 3684
Ian Hannam JPMorgan +44 207 325 1168 DATASOURCE: Harmony Gold Ferdi
Dippenaar, Harmony, +27-82-807-3684. Ian Hannam, JPMorgan,
+44-207-325-1168
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