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Securities and Exchange Commission
Washington, D. C. 20549
_______________________________
Form 8-K
Current Report
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 14, 1995
Homestake Mining Company
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(Exact name of Registrant as specified in its charter)
Delaware 1-8736 94-2934609
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification
incorporation) Number)
650 California Street, San Francisco, California 94108-2788
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(415)981-8150
Page 1 of 3 Pages
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Item 5. Other Events.
On August 14, 1995, Registrant issued the press release appended as
Exhibit 99.1, announcing its intention to make a takeover bid to acquire all
of the shares of Homestake Gold of Australia Limited not owned by Registrant.
This Form 8-K Report is being filed pursuant to SEC Rule 135c.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit 99.1 Press Release dated August 14, 1995, announcing
Registrant's intention to make a takeover bid to
acquire all of the shares of Homestake Gold of
Australia Limited not owned by Registrant.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: August 14, 1995
HOMESTAKE MINING COMPANY
(Registrant)
By:/s/ Gene G. Elam
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Gene G. Elam
Vice President, Finance and
Chief Financial Officer
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Exhibit 99.1
NEWS RELEASE
Homestake Mining Company
650 California Street
San Francisco, CA 94108
Phone: 415/981-8150
Fax: 415/397-5038
Contact:
Gene G. Elam
Vice President, Finance and
Chief Financial Officer
415-981-8150
Homestake Mining Offer To Acquire Minority
Interest In Homestake Gold of Australia Limited
San Francisco, CA, August 14, 1995 -- Homestake Mining Company (NYSE:HM)
announced today that it will make a formal takeover offer within the next
sixty days to exchange 9,755,000 shares of its $1.00 par value common stock
for the 109,605,000 shares of its subsidiary, Homestake Gold of Australia
Limited (HGAL), that Homestake Mining does not own already. Homestake Mining
presently owns 81.5% of HGAL's shares.
Based upon the current share price of Homestake Mining stock and upon current
exchange rates, the proposed transaction has a market value of approximately
$162 million. It values the HGAL shares at $2.00 per share Australian for the
purpose of the proposed share exchange. HGAL shareholders will be offered the
alternative of receiving $1.90 per share Australian in cash.
Homestake is making the offer in order to acquire additional gold reserves at
a fair price, to simplify its corporate structure and to eliminate the cost
and effort required to maintain a public company with a relatively small
public ownership interest.
The Homestake Mining shares to be offered in this transaction will not be
registered under the Securities Act of 1933 and may not be offered or sold in
the United States without registration.
Homestake is one of the largest gold producers in the world with 1995 gold
production estimated to be about 1.9 million ounces. The Company has major
gold operations in the United States, Canada and Australia.
Page 3 of 3 Pages
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