Gold Fields Welcomes Decision of Competition Appeal Court
November 26 2004 - 4:44AM
PR Newswire (US)
Gold Fields Welcomes Decision of Competition Appeal Court
JOHANNESBURG, South Africa, November 26 /PRNewswire-FirstCall/ --
The Board of Directors (the "Board") of Gold Fields Limited
(JSE:GFI)(NYSE:GFI) welcomed the decision of the Competition Appeal
Court in South Africa (the 'Court") that the early settlement offer
by Harmony Gold Mining Company ("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. Harmony was also ordered to pay Gold
Fields' costs. Ian Cockerill, Chief Executive of Gold Fields,
commented: "We have been vindicated. Our objective from the outset
has been to protect our shareholders' interests. This ruling
upholds our view that the nature of Harmony's hostile two-stage
offer was unfair and designed to evade proper regulatory scrutiny
and disenfranchise the majority of our shareholders. This is a
victory for shareholder democracy. It is also a victory for South
Africa and proof of the strength of its regulatory environment. We
urge shareholders to reject the Harmony offer; keep their options
open and not tender their shares." For more information please
visit http://www.goldfields.co.za/ In the United States, Gold
Fields Limited ("Gold Fields") has filed a
Solicitation/Recommendation Statement with the US Securities and
Exchange Commission (the "SEC") on Schedule 14D-9 and holders of
the Gold Fields Ordinary Shares and American Depositary Shares are
advised to read it as it contains important information. Copies of
the Schedule 14D-9 and other related documents filed by Gold Fields
are available free of charge on the SEC's website at
http://www.sec.gov/. Any documents filed by Harmony Gold Mining
Company Limited, including any registration statement on Form F-4
(including any prospectus contained therein) and related exchange
offer materials as well as its Tender Offer Statement on Schedule
TO, will also be available free of charge on the SEC's website. The
directors of Gold Fields accept responsibility for the information
contained in this document. To the best of their knowledge and
belief (having taken all reasonable care to ensure that such is the
case) the information contained in this document is in accordance
with the facts and does not omit anything likely to affect the
import of such information. Copies of this document are not being
made available, and must not be mailed, forwarded, transmitted or
otherwise distributed or sent in or into Australia, Canada, Japan,
the Republic of Ireland or any other jurisdiction in which it is
illegal to make this document available and persons receiving this
document (including custodians, nominees and trustees) must not
distribute, forward, mail, transmit or send it in or into or from
Australia, Canada, Japan, the Republic of Ireland or any such other
jurisdiction. DATASOURCE: Gold Fields Limited CONTACT: Enquires:
South Africa, Willie Jacobsz, Tel +27-11-644-2460, Fax
+27-11-484-0639; North America, Cheryl A Martin, Tel
+1-303-796-8683, Fax +1-303-796-8293
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