M E D I A
R E L E A S E
Gold Fields Limited
Reg. 1968/004880/06
24 St Andrews Road
Parktown, 2193
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Tel +27 11 644-2400 Dir +27 11 644-2460 Fa +27 11 484-0639
www.goldfields.co.za
Enquires
South Africa
Willie Jacobsz
Tel +27 11 644-2460 Fa +27 11 484-0639
North America
Cheryl A Martin
Tel +1 303 796-8683 Fa +1 303 796-8293
Gold Fields welcomes SRP ruling on
structure of Harmony's Offer
Johannesburg, 29 November 2004. The Board of Directors (the "Board") of Gold Fields Limited (GFI: JSE and NYSE) today welcomed the ruling by the Securities Regulation Panel that the Harmony Offer is one, single, composite transaction, subject to the Code and not two separate transactions.
Ian Cockerill, Chief Executive of Gold Fields, commented:
"The SRP has confirmed our contention that the Harmony Offer is one notifiable transaction and not two separate transactions. This decision re-inforces the findings of the Competition Appeal Court, namely that the Harmony Offer is one transaction and as such, is a notifiable transaction. Counsel is currently advising Gold Fields on the additional relief that may be sought as a result of this ruling."
Last week, the Competition Appeal Court in South Africa (the "Court") ruled that the early settlement offer by Harmony for Gold Fields is a notifiable merger for competition purposes and may not be implemented prior to its notification and approval.
In their ruling, the Court interdicted and restrained Harmony from voting or exercising any rights attaching to any Gold Fields shares which it may acquire under the early settlement offer or otherwise until approval for the early settlement offer has been obtained from the competition authorities.
The panel also ruled that Norilsk Nickel and Harmony are not acting in concert and the early settlement offer is not a partial offer.
ends
For more information please visit
http://www.goldfields.co.za
Directors: C M T Thompson* (Chairman), A J Wright (Deputy Chairman), I D Cockerill
(Chief Executive Officer),K Ansah
#
, G J Gerwel, N J Holland
(Chief
Financial Officer), J M McMahon
, G R Parker
, R L Pennant-Rea
, P J Ryan, T M G Sexwale, B R van Rooyen, C I von Christierson
*Canadian,
British,
American,
#
Ghanaian.
Corporate Secretary: C Farrel