Gold Fields Welcomes SRP Ruling on Structure of Harmony's Offer
November 29 2004 - 11:37AM
PR Newswire (US)
Gold Fields Welcomes SRP Ruling on Structure of Harmony's Offer
JOHANNESBURG, South Africa, November 29 /PRNewswire-FirstCall/ --
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. 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
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