Gold Fields Withdraws Proposed Share Offering
Release Date: 22/11/2002 17:55:53 Code(s): GFI
GOLD FIELDS WITHDRAWS PROPOSED SHARE OFFERING
Gold Fields Limited
ISIN: ZAE000018123
Share code: GFI
Issuer code: GOGOF
MEDIA RELEASE
Johannesburg, 22 November, 2002: Gold Fields Limited today announced that it is
withdrawing the Form F-1 Registration Statement filed with the United States
Securities and Exchange Commission on the basis of which the company had
intended to raise capital through an offering of shares in the United States.
Ian Cockerill, Chief Executive Officer of Gold Fields said, "We decided to
withdraw our filing because current market conditions are not favourable."
"In addition, we believe that Gold Fields` shares are currently undervalued
compared to our peers. The expectation of an offering at this time placed
additional pressure on our share price at a time when, we believe, the outlook
for gold is particularly positive," said Cockerill.
Gold Fields Limited is the world`s largest unhedged gold company with 4.3
million ounces of attributable gold production per annum and attributable
reserves of 79 million ounces. The company, which has operations in South
Africa, Australia and Ghana and exploration projects worldwide, is focused on
increasing value at its existing operations, international growth and developing
the gold market. The principal trading market for the company`s ordinary shares
is the Johannesburg Securities Exchange South Africa (GFI). In addition, the
company`s ordinary shares are listed on the London Stock Exchange, on Euronext
in Paris and Brussels, and the SWX Swiss Exchange. The company`s American
Depositary shares are listed on the New York Stock Exchange (GFI).
-end-
Date: 22/11/2002 05:55:50 PM Produced by the JSE SENS Department
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