Creating Gold Fields International - Proxy Form Update
December 02 2004 - 9:55AM
PR Newswire (US)
Creating Gold Fields International - Proxy Form Update Gold Fields
International : A Global Growth Vehicle Firmly in Your Hands
JOHANNESBURG, South Africa, December 2 /PRNewswire-FirstCall/ -- On
30th November, we announced modified terms for the transaction
under which Gold Fields' assets and subsidiaries outside of the
South African Development Community will be combined with IAMGold.
Under these modified terms, the cash consideration that Gold Fields
will pay into the combined entity will be reduced by $200 million,
making the deal even more attractive for you. VOTE "YES" FOR GOLD
FIELDS INTERNATIONAL ON THE GOLD PROXY CARD For assistance please
phone: South Africa: Renate Muckenhuber at +27-11-370-5484 Europe:
Dominic Dennis at +44-(0)20-7710-9967 North America Broker
enquiries: Frank Lentini at +1-212-750-7946 North America Bank
enquiries: Lloyd Lefcourt at +1-212-750-7419 Let me remind you why
we are proposing this transaction and why you stand to benefit from
the creation of Gold Fields International Our purpose in proposing
the creation of Gold Fields International is: - To create a vehicle
capable of generating dynamic international growth in which you,
the Gold Fields shareholder, will participate directly through your
70% controlling stake; - To ensure that you benefit directly from
the premium share rating typically given to North American listed
gold companies. We have already seen that premium rating come
through in the share prices of both Gold Fields and IAMGold (which
is now a proxy for Gold Fields International); and - To let you
benefit from the potential value creation derived from a company
that is staffed and focused towards aggressive growth, that is
domiciled at the centre of the international deal flow, has ready
access to the international capital markets and the ability to
respond rapidly to opportunities as they arise. The transaction is
well thought through, robust and creates an exciting growth
vehicle: - Gold Fields will fully CONSOLIDATE and CONTROL Gold
Fields International, thereby enabling Gold Fields shareholders to
benefit from future growth and value creation. We will have: - 70%
ownership of Gold Fields International - 7 out of 10 board members
- Gold Fields proven management team - Top-up rights to mitigate
dilution - Anticipated production of approximately 2 million ounces
in 2005 is projected to increase to approximately 3.5 million gold
equivalent ounces in 2007 through our existing organic growth
projects and our exciting, high impact and fully funded project
pipeline. - Proven and probable attributable gold reserves of 19.2
million ounces, measured and indicated resources (including
reserves) of 25.9 million ounces, and additional inferred resources
of 9.1 million ounces. - Strong pipeline of near-term development
projects and an extensive portfolio of attractive advanced-stage
exploration projects. - Unhedged production and reserves giving
direct and full exposure to the gold price. - Geographically
diversified asset base including operations and projects in
Australia, West Africa, China, Europe and the Americas. - Strong
balance sheet with anticipated operating cash flow in financial
year 2005 of approximately US$251 million (assuming a gold price of
US$400 per ounce). - Experienced management team drawn from Gold
Fields Limited and IAMGold with a well-established international
mine development and operating track record. VOTE FOR VALUE VOTE
FOR GROWTH VOTE FOR GOLD FIELDS INTERNATIONAL Thank you IAN
COCKERILL CHIEF EXECUTIVE DATASOURCE: Gold Fields Limited CONTACT:
Contact details: 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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