| Tue 17 Mar 2009, 11:19 | | GFI - Gold Fields And Mvelaphanda Resources Successfully Completes Final Step Of |
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GFI
GOGOF
GFI - Gold Fields And Mvelaphanda Resources Successfully Completes Final Step Of
Black Economic Empowerment Transaction Initiated In 2004
Gold Fields Limited
(Registration Number 1968/004880/06)
("Gold Fields " or "the Company")
JSE, NYSE, NASDAQ Dubai Share Code: GFI
NYX Code: GFLB, and SWX Code: GOLI
ISIN: ZAE000018123
MEDIA RELEASE
Gold Fields and Mvelaphanda Resources successfully completes final step of Black
Economic Empowerment Transaction Initiated in 2004
Johannesburg, 17 March 2009: Gold Fields Limited (Gold Fields) (JSE, NYSE,
NASDAQ Dubai: GFI) is pleased to announce that, in terms of the R4.1 billion
Black Economic Empowerment transaction approved by shareholders of Gold Fields
on 8 March 2004, and which reached maturity today, Mvelaphanda Resources (Mvela
Resources) today took receipt, through its wholly owned subsidiary Mvelaphanda
Gold (Proprietary) Limited ("Mvela Gold"), of its 15% shareholding in GFI Mining
South Africa (Proprietary) Limited ("GFIMSA"), a subsidiary of Gold Fields which
owns and operates the South African gold mining assets of Gold Fields ("the
GFIMSA Shares").
Immediately upon receipt of the GFIMSA Shares, Mvela Gold exercised its right to
require the exchange of the GFIMSA Shares for 50 million new ordinary shares in
the issued share capital of Gold Fields Limited.
Gold Fields therefore today issued 50 million new ordinary Gold Fields Limited
shares, listed on the JSE Limited, to Mvela Gold in exchange for the GFIMSA
shares, which represents a 15% equity stake in the South African gold mining
assets of Gold Fields.
This brings the total number of listed Gold Fields shares to 703,839,976.
Pursuant to the above transactions, Mvela Gold now owns approximately 7% of the
listed shares of Gold Fields Limited, and Gold Fields again owns 100% of GFIMSA.
Nick Holland, Chief Executive Officer of Gold Fields, said:
We are particularly pleased that the transaction, which was based on fair value
at a firm market price, has proven to be economically sensible and sustainable
for existing Gold Fields shareholders, while creating significant real value for
Mvela Resources shareholders, thus advancing Black Economic Empowerment in South
Africa".
Enquiries:
Willie Jacobsz
Mobile: +857 241-7127
Nikki Catrakilis-Wagner
Mobile: +27 (0) 83 309-6720
Marritt Claassens
Mobile: +27 (0) 82 307-3297
17 March 2009
ends
About Gold Fields
Gold Fields Limited is one of the world`s largest unhedged producers of gold
with attributable production of 3,64 million ounces per annum from eight
operating mines in South Africa, Ghana and Australia. A ninth mine, Cerro Corona
Gold/Copper mine in Peru, commenced production in August 2008 at an initial rate
of approximately 375,000 gold equivalent ounces per annum. Gold Fields aims to
reach a production rate of approximately 4.0 million ounces per annum during the
March quarter of 2009. The company has total attributable ore reserves of 83
million ounces and mineral resources of 251 million ounces. Gold Fields is
listed on the JSE Limited (primary listing), New York Stock Exchange (NYSE),
NASDAQ Dubai Limited (NASDAQ Dubai), New Euronext in Brussels (NYX) and Swiss
Exchange (SWX). For more information please visit the Gold Fields website at
www.goldfields.co.za.
Date: 17/03/2009 11:19:48 Produced by the JSE SENS Department.
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