| Fri 22 Aug 2008, 12:00 | | GFI - Gold Fields Receives Summons From Randgold And Exploration |
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GFI
GOGOF
GFI - Gold Fields Receives Summons From Randgold And Exploration
Gold Fields Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1968/004880/06)
JSE, NYSE, DIFX Share Code: GFI
ISIN: ZAE000018123
("Gold Fields" or "the Company")
MEDIA RELEASE
GOLD FIELDS RECEIVES SUMMONS FROM RANDGOLD AND EXPLORATION
Johannesburg, August 22, 2008: 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% in the South Deep Mine. This alleged liability is historic and relates to
a period of time prior to Gold Fields purchasing the company.
22 August 2008
Sponsor:
JPMorgan Equities
Date: 22/08/2008 12:00:01 Produced by the JSE SENS Department.
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