| Mon 23 Oct 2006, 8:00 | | Gold Fields Limited announces intention to list in |
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GFI
GOGOF
Gold Fields Limited announces intention to list in Dubai
Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
Share Code: GFI
ISIN Code: ZAE000018123
("Gold Fields" or the "Company")
MEDIA RELEASE
Gold Fields Limited announces intention to list in Dubai
Johannesburg, October 23, 2006. Gold Fields Limited (Gold Fields) (NYSE: GFI;
JSE: GFI), one of the world"s largest unhedged gold producers, today formally
announced its intention to seek a listing on the Dubai International Financial
Exchange (DIFX) by the end of October 2006. Gold Fields will be the first
African, South African and gold mining company to list on this exchange. With
its primary listing on the JSE, Gold Fields is also listed on the NYSE, LSE,
Euronext and Swiss Exchanges, making DIFX its fifth secondary listing.
Dubai, like Johannesburg, is known as the City of Gold. Dubai is essentially the
entry point for physical gold moving to the Middle East, Central Asia and also
the Indian sub-continent. The DIFX is ideally situated to access both Western
and Eastern financial markets given Dubai"s optimal time zones, political
stability, ultra-modern and efficient trading hubs and international business
practices. (See www.difx.ae) This listing will enable Gold Fields to access this
largely untapped market and traders in the region will now also be able to add
pure gold shares to their portfolios.
Gold is culturally significant in Dubai. Strong domestic demand has pushed
Dubai"s per capita gold consumption to the highest level in the world, such that
gold sales accounted for 14% of Dubai"s gross domestic product in 2005 (valued
at US$5,8 billion). 1
Ian Cockerill, Chief Executive Officer of Gold Fields, commented:
"Gold Fields has always sought to break new ground. In the same way that we seek
out gold in the four corners of the earth, we are also constantly searching for
efficient sources of capital to fund our ambitious international growth
strategy. We believe that the Dubai International Financial Exchange is superbly
placed and structured to be the gateway to accessing capital in the Gulf and
beyond. We look forward to working with the regulatory authorities in Dubai to
achieve a successful listing of our shares on their exchange".
Christopher Sturdy, Executive Vice President, global head of The Bank of New
York Depositary Receipt Division and the Gold Fields" sponsor to the listing
said:
"The Bank of New York pioneered the depositary receipts structure for DIFX
listings and capital raisings, executing the first IPO on DIFX in September
2005. It is particularly gratifying that we are now able to help Gold Fields, a
world-class gold mining company, access the substantial pools of liquidity
available in the Gulf region via this secondary listing on DIFX. We look
forward to helping other distinguished issuers from around the world list their
depositary receipts on DIFX."
ends
Notes to the editor
Background on the Dubai International Financial Exchange
The Dubai International Financial Exchange"s (DIFX) is located in the Dubai
International Financial Centre (DIFC), a financial free zone, operational since
2004. DIFX"s aim, since inception in September 2005, is to be the leading stock
exchange between Western Europe and East Asia. The exchange currently has 16
member banks - ABN AMRO, Abu Dhabi Commercial Bank, Barclays Capital, Citigroup,
Credit Suisse, Deutsche Bank, EFG-Hermes, HSBC, Jefferies International, KAS
BANK, Mashreq Capital DIFC Ltd, Merrill Lynch, Morgan Stanley, SHUAA Capital,
Standard Chartered and UBS. DIFX is the main gateway to opportunities in the
Gulf Cooperation Council States, the rest of the Middle East, North Africa,
South Africa, Turkey, Central Asia and also the Indian sub-continent. The DIFX
intends to become the platform of choice in its region for a range of equities,
bonds, funds, Islamic products, Index products and derivatives.
Financial activities in the DIFC are governed to international standards by an
independent regulator, the Dubai Financial Services Authority (DFSA). The
President of the DIFC is His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the
UAE Vice-President, Prime Minister and ruler of Dubai. DIFX standards are
comparable to those of leading international exchanges in New York, London and
Hong Kong. For issuers of shares and other securities in these areas, the
exchange offers increased market visibility, unprecedented access to regional
and global capital and the ability to sustain fair valuation.
1. Source: Commodities Now
Date: 23/10/2006 08:00:36 AM Produced by the JSE SENS Department
