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Tuesday, 2nd November 2004 (3925 views)

Harmony Gold Mining has sent out an open letter to its shareholders this week, in a bid to encourage them to vote in favour of its proposed merger with Gold Fields.<BR/><BR/>A special meeting which will obtain votes and opinions from shareholders is due to take place on November 12.<BR/><BR/>Bernard Swanepoel, chief executive of Harmony, stated: "We believe that this transaction is truly in the best interest of all shareholders.<BR/><BR/>"When Harmony and Gold Fields shareholders review the facts of the merger, we think they will agree."<BR/><BR/>The company has outlined a number of positive reasons for the merger, including Harmony's positive track record for cost savings and the merger being in line with the company's strategic plan for growth.<BR/><BR/>In addition, Gold Fields largest shareholder has fully supported the offer and the world's leading independent corporate services provider has recommended shareholders should support the move.<BR/><BR/>Mr Swanepoel believes the deal could help increase profitability for Gold Fields' mines and benefit both sets of shareholders.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3772249"/>

 

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