Gold Fields` Sale Of St Helena Finalised
GOLD FIELDS LIMITED
Share Code: GFI
ISIN Code: ZAE000018123
MEDIA RELEASE
Johannesburg, 29 October 2002: Gold Fields Limited [JSE & NYSE - GFI] is pleased
to announce that the sale of the St Helena Gold Mine to the ARMgold/Harmony
FreeGold Joint Venture Company (Pty) Ltd. (Freegold) has now been finalised. The
transaction will become effective at midnight tonight, 29 October 2002.
Ian Cockerill, Chief Executive Officer of Gold Fields said: "We are pleased to
see St Helena now finally in the FreeGold camp where it logically fits and where
it will make a meaningful contribution to Black Economic Empowerment. The
synergies that will be unlocked through this transaction will give St Helena a
new lease on life which will be good for all stakeholders and for the community
of Welkom."
The gross sale consideration for the transaction, which was announced on 24 May
2002, was R120 million, as well as a one per cent royalty on revenue, the latter
effective for a period of 48 months.
Gold Fields Limited is one of the largest gold producers in the world with
approximately 4.3 million ounces of gold produced annually from operations in
South Africa, Ghana and Australia. Gold Fields trades on the Johannesburg and
New York stock exchanges (GFI) as well as on the London Stock Exchange, Euronext
Paris, Euronext Brussels and SWX Swiss Exchange.
-end-
Date: 29/10/2002 02:22:00 PM Produced by the JSE SENS Department
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