Contents
- Corporate profile
- Key statistics 2009
- Key features 2009
- Operations at a glance
- FY09 – milestones
- Harmony strategy
- Chairman’s letter
- Chief executive officer’s review
- Review of operations
- Exploration overview
- Mineral resources and ore reserves
- Board of directors
- Executive management
- Corporate governance
- Directors’ report
- Report of the independent auditors (PDF - 37KB)
- Group annual financial statements (PDF - 312KB)
- Company annual financial statements (PDF - 123KB)
- Statement of subsidiary companies (PDF - 48KB)
- Report of the independent auditors (PDF - 37KB)
- Group annual financial statements (PDF - 312KB)
- Company annual financial statements (PDF - 123KB)
- Statement of subsidiary companies (PDF - 48KB)
- Investor relations
- Glossary of terms
- Administrative information
Investor relations
Contacts
Marian van der Walt
Executive: Corporate & Investor Relations
Telephone: +27 (0)11 411 2037
Fax: +27 (0)86 614 0999
Mobile: +27 (0)82 888 1242
E-mail: marian@harmony.co.za
General e-mail enquiries
Esha Brijmohan
Investor Relations Officer
Telephone: +27 (0)11 411 2314
Fax: +27 (0)11 692 3879
Mobile: +27(0)82 759 1775
E-mail: esha@harmony.co.za
Harmony website
This Annual Report 2009 and the Sustainable Development Report 2009 can also be requested in printed format from Harmony’s Investor Relations contacts above.
In addition, Harmony has produced the Form 20-F (PDF - 4.53MB) (an annual report required to be filed with the United States Securities and Exchange Commission).
Stock exchange listings and ticker codes
Harmony’s primary listing is on the JSE Limited. The company’s shares are also listed on the stock exchanges in London, Paris and Berlin, and are quoted in the form of American Depositary Receipts (ADRs) on the New York and Nasdaq exchanges and as International Depositary Receipts (IDRs) on the Brussels exchange.
Harmony’s quoted share codes on these exchanges are as follows:
| JSE Limited | HAR |
| New York Stock Exchange and Nasdaq | HMY |
| London Stock Exchange | HRM |
| Euronext Brussels | HMY |
| Euronext Paris | HG |
| Berlin Stock Exchange | HAM1 |
Share price analysis
The Harmony share price traded on the JSE between a low of R54.99 and a high of R129.50 per share during FY09.
On the NYSE, the share traded between a low of $5.58 and a high of $13.06 per share. At the end of the financial year, the Harmony share price on the JSE and NYSE closed at R80.00 and $10.32 per share, respectively.
As at 30 June 2009, the resulting market capitalisation was R34.08 billion and $4.40 billion respectively.
Share information
| Sector | Resources | |
| Sub-sector | Gold | |
| Nature of business | Harmony Gold Mining Company Limited and its subsidiaries are engaged in underground and open-pit gold mining, exploration and related activities in South Africa and Papua New Guinea. | |
| Issued share capital as at 30 June 2009 | 425 986 836 shares in issue | |
Market capitalisation | ||
| JSE: | at 30 June 2009 | R34.08 billion |
| at 30 June 2008 | R38.31 billion | |
| NYSE: | at 30 June 2009 | $4.40 billion |
| at 30 June 2008 | $4.90 billion | |
Share price statistics – FY09 | ||
| JSE: | 12-month high | R129.50 |
| 12-month low | R54.99 | |
| Closing price | R80.00 | |
| NYSE: | 12-month high | $13.06 |
| 12-month low | $5.58 | |
| Closing price | $10.32 | |
| Free float | 100% | |
| ADR ratio | 1:1 | |
Performance on JSE in FY09 | ||
| Number of shares traded (millions) | 572 | |
| Percentage of total issued shares | 134% | |
| Value of shares traded | R52.39 billion | |
ADR performance in FY09 | ||
| Number of ADRs traded (millions) | 796 | |
| Total number of ADRs outstanding (millions) | 129 | |
| Value of ADRs traded | $7.93 billion | |
Shareholder spread
| Number of shareholders |
% of shareholders | Number of shares held |
% of shares held | |
|---|---|---|---|---|
| Public | 13 457 | 99.98 | 362 159 271 | 85.02 |
| Non-public | 3 | 0.02 | 63 827 565 | 14.98 |
| Totals | 13 460 | 100.00 | 425 986 836 | 100.00 |
Shareholder profile
As at 30 June 2009, a total of 425 986 836 shares or 100% of the total number of shares in issue were outstanding. The largest shareholder was ARM Limited which had a holding of 14.87% (63 632 922 shares) at the end of June 2009. The largest institutional shareholder was Allan Gray Unit Trust Management Limited with a holding of 13.80% (59 034 107 shares).
Our South African shareholder base increased from 39% to 42% for the year ended 30 June 2009. The combined institutional and retail ownership in the United States totalled 31% (30 June 2008: 39%) of Harmony's issued share capital. Shareholders in the UK accounted for 14% of shares in issue and the rest of Europe 10.52% in all.
Top 20 shareholders
| Shareholder | Number of shares held | % holding of outstanding | |
|---|---|---|---|
| 1 | ARM Ltd | 63 632 922 | 14.87 |
| 2 | Allan Gray Unit Trust Management Ltd. | 59 034 107 | 13.80 |
| 3 | Blackrock Investment Management (UK) Ltd. | 40 244 184 | 9.41 |
| 4 | Public Investment Corp. of South Africa | 17 093 144 | 3.99 |
| 5 | Van Eck Global | 16 697 721 | 3.90 |
| 6 | Arnhold & S. Bleichroeder Advisers LLC | 14 362 878 | 3.36 |
| 7 | Fidelity Management & Research | 9 513 135 | 2.22 |
| 8 | Euroclear (French Listing) | 9 254 336 | 2.16 |
| 9 | Barclays Global Investors NA (California) | 8 669 562 | 2.03 |
| 10 | Capital Guardian Trust Co. | 8 575 426 | 2.00 |
| 11 | Old Mutual Investment Group South Africa Pty Ltd. | 8 312 288 | 1.94 |
| 12 | Dimensional Fund Advisors, Inc. | 8 189 160 | 1.91 |
| 13 | Capital International, Inc. | 8 137 402 | 1.90 |
| 14 | Soges Fiducem (IDRs) | 7 497 030 | 1.75 |
| 15 | Retail Brokers (ADR) | 6 695 285 | 1.56 |
| 16 | RMB Asset Management Ltd. | 5 321 817 | 1.24 |
| 17 | Franklin Mutual Advisers LLC | 4 811 859 | 1.12 |
| 18 | Skagen AS | 3 980 847 | 0.93 |
| 19 | Vanguard Group, Inc. | 3 644 343 | 0.85 |
| 20 | American Century Investment Management, Inc. | 3 555 388 | 0.83 |
Analysis of ordinary shares (Strate) as at 30 June 2009
| Shares held | Number of shareholders | % of shareholders |
Number of shares held | % of issued share capital |
|---|---|---|---|---|
| 1 to 10 000 | 12 766 | 94.84 | 5 625 135 | 1.32 |
| 10 001 to 100 000 | 455 | 3.38 | 17 370 107 | 4.08 |
| 100 001 to 1 000 000 | 200 | 1.49 | 62 333 579 | 14.63 |
| over 1 000 000 | 39 | 0.29 | 340 658 015 | 79.97 |
| Total | 13 460 | 100.00 | 425 896 836 | 100.00 |
Historic performance of shares on the JSE
| FY09 | FY08 | FY07 | FY06 | FY05 | |
|---|---|---|---|---|---|
| As at 30 June: (R/share) | 80.00 | 95.00 | 100.27 | 114.10 | 58.25 |
| Year high (R/share) | 129.50 | 115.00 | 123.00 | 117.05 | 93.30 |
| Year low (R/share) | 54.99 | 61.75 | 86.10 | 46.62 | 36.40 |
| Number of ordinary shares Issued (000) | 425 987 | 403 253 | 398 113 | 396 934 | 393 232 |
| Number of deals recorded | 511 025 | 293.682 | 183 004 | 148 746 | 85 487 |
| Volume of shares traded (000) | 571 839 | 367 286 | 323 417 | 351 555 | 303 414 |
| Volume of shares traded as % of total issued shares | 134 | 91 | 81 | 89 | 77 |
Currency conversion guide as at 30 June (R)
| 2009 | 2008 | 2007 | 2006 | 2005 | |
|---|---|---|---|---|---|
| Australian dollar | 6.25 | 7.51 | 4.3029 | 6.0128 | 5.3080 |
| US dollar | 7.72 | 7.80 | 7.0379 | 7.2701 | 6.6670 |
Shareholders’ diary
| Financial year-end | 30 June |
| Annual financial statements issued | 26 October 2009 |
| Form 20-F issued | 26 October 2009 |
| Annual general meeting | 23 November 2009 |
Dividend dates: | |
| Dividend declared | 13 August 2009 |
| Last day to trade ordinary shares cum dividend | 11 September 2009 |
| Ordinary shares trade ex dividend | 14 September 2009 |
| Record date | 18 September 2009 |
| Payment date | 21 September 2009 |
Quarterly results presentations: | |
| Quarter 1 FY10 | 30 October 2009 |
| Quarter 2 FY10 | 8 February 2010 |
| Quarter 3 FY10 | 10 May 2010 |
| Quarter 4 FY10 | 16 August 2010 |