EXHIBIT 99.1
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Media Contact: Doug Hock Investor Contact: Wendy Yang
303-837-5812 303-837-6141
NEWMONT RENEWS SHAREHOLDER RIGHTS PLAN
DENVER, August 31, 2000 - The Board of Directors of Newmont Mining
Corporation declared a dividend distribution of one Preferred Share Purchase
Right for each outstanding share of Newmont Mining common stock, replacing
similar rights that expire on September 11, 2000.
The new Rights, like those that are expiring, are designed to assure that
in the event of a proposed takeover of the company all Newmont stockholders
receive fair and equal treatment. In such an event, the Rights are intended to
enable all stockholders realize the long-term value of their investment in the
company.
The new Rights would be exercisable only if a person or group acquires 15
percent or more of the company's common stock or commences a tender offer the
consummation of which would result in ownership by a person or group of 15
percent or more of the common stock. Each Right would entitle stockholders to
buy one one-thousandth of a share of Newmont Mining's Series A Junior
Participating Preferred Stock at an exercise price of $100.
If a person or group acquires 15 percent or more of Newmont Mining's
common stock, each Right would entitle its holder (other than such person or
members of such group) to purchase, at the Right's then-current exercise price,
a number of Newmont common shares having a market value of twice such price. In
addition, if Newmont is acquired in a merger or other business combination after
a person has acquired 15 percent or more of it's common stock, each Right will
entitle its holder to purchase, at the Right's then-current exercise price, a
number of the acquiring company's common shares having a market value of twice
such price. The acquiring person would not be entitled to exercise these Rights.
Prior to the acquisition by a person or group of 15 percent or more of the
company's common stock, the Rights may be redeemed for one-tenth of a cent per
Right at the option of the Board of Directors. The Board is also authorized to
reduce the 15 percent thresholds mentioned above to not less than 10 percent.
The dividend distribution will be made on September 11, 2000, payable to
stockholders of record on that date, and is not taxable to stockholders. The new
Rights expire on September 11, 2010.
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