Johannesburg, South Africa — 15 March 2012 – Harmony Gold Mining Company “’ South Africa’s third largest gold producer “’ has introduced an employee share ownership plan to benefit its workforce of around 33 000 employees.
“All non-management employees will benefit from the scheme, with the only determining factor being length of service,” Harmony said in a statement issued here.
Based on the number of shares in issue on 31 December 2011, the Harmony shares available for issue in terms of the employee share ownership plan (ESOP) could make up around 2.9% of the company.
“This plan not only benefits our employees, but has also demonstrated and enhanced the company’s close relationships with our unions,” said Harmony CEO Graham Briggs.
The National Union of Mineworkers (NUM), UASA and Solidarity, were involved in ironing out the details of the deal in discussions which began in 2010.
“The NUM believes that each and every employee at Harmony is deserving of a portion of the success to which they contribute,” said NUM general secretary Frans Baleni. “I’m pleased at the company’s acknowledgement of this fact.”
Source: Harmony Gold Mining Company. For further details, click here.