Overwhelming Majority of Gold Fields' Shareholders Say "No" to Harmony
November 29 2004 - 11:48AM
PR Newswire (US)
Overwhelming Majority of Gold Fields' Shareholders Say "No" to
Harmony JOHANNESBURG, South Africa, November 29
/PRNewswire-FirstCall/ -- The Board of Directors (the "Board") of
Gold Fields Limited (JSE:GFI) and (NYSE:GFI) today welcomed the
fact that the overwhelming majority of its long term shareholders
had opted to reject Harmony's Early Settlement Offer which closed
on Friday 26th September. Ian Cockerill, Chief Executive Officer of
Gold Fields, commented: "The low take-up of this offer is a clear
indication that our shareholders recognise that Harmony's Offer
falls woefully short on value. The fact that only 10.8% of shares
were tendered signals that Harmony will never be successful in
gaining control of the company with such an undervalued and
ill-conceived offer. I would like to thank shareholders for this
expression of their support." "Investors in Gold Fields own an
impressive array of assets with great prospects, domestically and
internationally. They are not going to give these up for a 'low
ball' offer." "Harmony is in a no-win situation. They cannot vote
any of the shares they have acquired. Their offer does not provide
our long-term shareholders anything that resembles value, just
Harmony's over valued shares, no cash and no control premium.
Harmony should withdraw the offer and concentrate on addressing its
own problems and not seek to transfer them to our shareholders." On
Friday, the Competition Appeal Court interdicted and restrained
Harmony or any third party from voting or exercising any rights
attaching to any Gold Fields shares which Harmony may acquire under
the early settlement offer or otherwise until approval for the
early settlement offer has been obtained from the competition
authorities. Today, the Securities Regulation Panel reinforced that
view by ruling that the Harmony Offer is one, single, composite
transaction, subject to the Code and not two separate transactions.
For more information please visit http://www.goldfields.co.za/ In
the United States, Gold Fields Limited ("Gold Fields") will file a
Solicitation/Recommendation Statement with the 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
Copyright
Gold Fields (NYSE:GFI)
Historical Stock Chart
From May 2024 to Jun 2024
Gold Fields (NYSE:GFI)
Historical Stock Chart
From Jun 2023 to Jun 2024