Gold Fields Receives Summons From Randgold and Exploration
August 22 2008 - 10:28AM
PR Newswire (US)
JOHANNESBURG, August 22 /PRNewswire-FirstCall/ -- Gold Fields
Operations Limited, (formerly known as Western Areas Limited)
("WAL") a subsidiary of "Gold Fields" (NYSE, JSE, DIFX: GFI)
announced today that on 21 August 2008 it had received a summons
from Randgold and Exploration Company Limited ("Randgold") and
African Strategic Investment (Holdings) Limited. The summons claims
that during the period that WAL was under the control of Brett
Kebble, Roger Kebble and others, WAL was allegedly part of a scam
whereby JCI Limited unlawfully disposed of shares owned by Randgold
in Randgold Resources Limited ("Resources") and Afrikander Lease
Limited, now Uranium One. WAL's preliminary assessment is that it
has strong defences to these claims and accordingly, WAL's
attorneys have been instructed to vigorously defend the claims. The
claims have been computed in various ways. The highest claims have
been computed on the basis of the highest prices of Resources and
Uranium One between the dates of the alleged thefts and March 2008
(approximately R11 billion). The alternative claims have been
computed on the basis of the actual amounts allegedly received by
WAL to fund its operations (approximately R519 million). It should
be noted that the claims lie only against WAL, whose only interest
is a 50% stake in the South Deep Mine. This alleged liability is
historic and relates to a period of time prior to Gold Fields
purchasing the company. DATASOURCE: Gold Fields Limited CONTACT:
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, Fax +27-11-484-0639;
http://www.goldfields.co.za/ . Enquires: Daniel Thole, Tel
+27-11-644-2638, Mobile +27-82-929-3672
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