| Wed 11 Jan 2006, 16:03 | | Gold Fields Limited - Gold Fields And Bolivar Gold |
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GFI
GOGOF
Gold Fields Limited - Gold Fields And Bolivar Gold Announce Increase In Share
Price Payable To C$3.20 Under The Plan Of Arrangement And Extension Of Proxy
Deposit Deadline
Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
Share Code: GFI
ISIN Code: ZAE000018123
JOINT PRESS RELEASE
GOLD FIELDS AND BOLIVAR GOLD ANNOUNCE INCREASE IN SHARE PRICE PAYABLE TO C$3.20
UNDER THE PLAN OF ARRANGEMENT AND EXTENSION OF PROXY DEPOSIT DEADLINE
Johannesburg and Toronto, Canada, January 11, 2006 - Gold Fields Limited (Gold
Fields) (NYSE: GFI; JSE: GFI) and Bolivar Gold Corp. (TSX:BGC) announced today
an agreement to increase to C$3.20 the consideration per common share payable
under the proposed plan of arrangement, originally announced on November 21,
2005. The consideration payable to warrantholders has been increased to the
following:
(1) Initial Warrants - BGC.WT (expiry 17 March 2008 and C$1.10 strike price)
- C$2.20 per warrant;
(2) A Warrants - BGC.WT.A (expiry 25 August 2008 and C$1.75 strike price)
- C$1.65 per warrant; and
(3) B Warrants - BGC.WT.B (expiry 23 December 2009 and C$3.25 strike price)
- C$1.00 per warrant.
Consideration payable to holders of options will be increased by an amount that
corresponds to the increased consideration payable on the common shares. Other
payments in connection with the plan of arrangement will remain unchanged.
The Board of Directors of Bolivar continues to recommend that Bolivar
securityholders vote FOR the plan of arrangement. In connection with this
improvement to the terms of the plan of arrangement, the Board of Directors of
Bolivar has extended the deadline for the submission of proxies in connection
with the meeting of Bolivar securityholders to be held on Thursday January 12,
2006 until 8:00a.m. (Toronto time) on January 12, 2006.
All securityholders of record as of December 5, 2005 who have not voted on the
arrangement can now submit proxies until 8:00 a.m. (Toronto time) on January 12,
2006 and we urge you to vote your proxy FOR the arrangement today by voting only
the BLUE proxy for your shares or YELLOW proxy for your warrants.
Securityholders who have previously voted can also revoke their existing proxies
and vote on the arrangement by delivering a new proxy with updated voting
instructions by 8:00 a.m. (Toronto time) on January 12, 2006. To revoke
existing proxies and cast new votes, shareholders should contact the
intermediary through which they previously voted and instruct them to deliver
new proxies. If you require assistance in voting, please contact Kingsdale
Shareholder Services Inc. at (416) 867-2342, or toll-free at 1-866-588-6864.
Gold Fields is one of the world"s largest unhedged gold producers, with annual
gold production of approximately 4.2 million ounces from mines in South Africa,
Ghana and Australia as well as a developing mine at Cerro Corona in Peru. The
Company has reserves of 64.8 million ounces and mineral resources of 174.5
million ounces. Gold Fields has its primary listing on the Johannesburg
Securities Exchange and secondary listings on the NYSE, LSE, Euronext in Paris
and Brussels, and on the Swiss Exchange. All of Gold Fields" operations are ISO
14001 certified.
Bolivar Gold Corp. is a gold exploration, development and production company. At
its 95%-owned Choco 10 property in Venezuela, drilling has confirmed near-
surface proven and probable ore reserves of 1.3 million ounces. The 5,400 tonne
per day Choco 10 operation commenced commercial production in August 2005.
Bolivar Gold intends to exploit this reserve while continuing to pursue the
exploration potential of the Choco 10 property, as well as throughout the El
Callao district in conjunction with its joint venture partner, Gold Fields
Limited.
For further information:
Bolivar Gold Corp:
Peter Volk, General Counsel & Secretary, Tel: (416) 360-4653,
pvolk@bolivargold.com
Gold Fields Limited:
Willie Jacobsz, Tel: +27-11-644-2460, williej@goldfields.co.za;
Nerina Bodasing, Tel: +27-11-644-2630, nerinab@goldfields.co.za;
Cheryl Martin, Tel: (303) 796-8683, camartin@gfexpl.com.
11 January 2006
Date: 11/01/2006 04:03:12 PM Produced by the JSE SENS Department
