{"id":8956,"date":"2012-03-15T15:13:02","date_gmt":"2012-03-15T13:13:02","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/harmony-gold-employees-to-get-up-to-2-9-pct-stake\/"},"modified":"2012-03-15T15:13:02","modified_gmt":"2012-03-15T13:13:02","slug":"harmony-gold-employees-to-get-up-to-2-9-pct-stake","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/harmony-gold-employees-to-get-up-to-2-9-pct-stake\/","title":{"rendered":"Harmony Gold employees to get up to 2.9 pct stake"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, March 15<\/span> (Reuters) &#8211; Harmony Gold Mining<br \/>\n, South Africa&#8217;s third-biggest gold producer, will give<br \/>\nemployees who work at the rock face up to 2.9 percent of its<br \/>\nshare capital.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The company said 33,000 employees below management level<br \/>\nwould benefit from the scheme, which could see it issue at least<br \/>\n4.3 million shares, valued at about 1 billion rand ($133<br \/>\nmillion) based on Harmony&#8217;s market capitalisation on Wednesday.<\/p>\n<p><span><\/span><\/p>\n<p>Harmony&#8217;s overall black ownership is already at 36 percent,<br \/>\nabove South Africa&#8217;s requirement that 26 percent of local<br \/>\noperations be transferred to black investors by 2014.<\/p>\n<p><span><\/span><\/p>\n<p>The five-year scheme is not the first of its kind in South<br \/>\nAfrica, where the government is compelling companies to redress<br \/>\nthe racial imbalances and inequities of the apartheid era.<\/p>\n<p><span><\/span><\/p>\n<p>Kumba Iron Ore was lauded for its employee share<br \/>\nownership scheme when it paid out 2.7 billion rand ($360<br \/>\nmillion) to 6,000 of its workers at the end of last year.<\/p>\n<p><span><\/span><\/p>\n<p>The payouts marked the end of the first phase of the 10-year<br \/>\nscheme to benefit non-managerial employees.<\/p>\n<p><span><\/span><\/p>\n<p>Almost 9,700 such workers at diversified miner Exxaro<br \/>\n also benefited from a 1 billion rand payout after its<br \/>\nemployee scheme reached maturity after a five-year capital<br \/>\nappreciation period.\t<\/p>\n<p> (Reporting by Sherilee Lakmidas, editing by Ed Stoddard and<br \/>\nWill Waterman)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, March 15 (Reuters) &#8211; Harmony Gold Mining , South Africa&#8217;s third-biggest gold producer, will give employees who work at the rock face up to 2.9 percent of its share capital. The company said 33,000 employees below management level would benefit from the scheme, which could see it issue at least 4.3 million shares, valued [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8956","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8956"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8956\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}