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Name | Symbol | Market | Type |
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Randgold Ads | LSE:GOLD | London | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 83.00 | 0 | 00:00:00 |
Gold Fields Limited Statement by the Board of Gold Fields Limited on the Unsolicited Hostile Offer by Harmony Further to the announcement made on Monday 18th October 2004, in which the Board of Gold Fields expressed its preliminary view on the unsolicited hostile Offer received from Harmony Gold Mining Limited ("Harmony") for a proposed merger between the two companies, the Board met on Friday 22nd October to assess the full implications of this action for Gold Fields' shareholders as well as the range of measures available to Gold Fields in the preparation of a defence plan. Shareholders are advised that Management and Board of Gold Fields have consulted with a number of the Company's stakeholders and the Board has noted their concerns, as well as those expressed publicly by a number of investors in Harmony. These concerns relate inter alia to the manner in which the offer is being conducted and its impact on shareholders' rights as well as the destruction of value. In preparing its response to the unsolicited hostile offer from Harmony, the Gold Fields Board will be guided by its responsibility to protect the rights of all shareholders as well as the preservation of value. The Board has been advised that, under the US federal securities laws, it is closely constrained in what it can say in relation to the Offer until the filing of its formal response on a Solicitation/Recommendation Statement on Schedule 14D-9 with the US Securities and Exchange Commission. The Board is working closely with its independent financial advisers and plan to publish its formal response to the Offer as soon as possible but no later than 3 November 2004. As a result, the Board of Gold Fields urges shareholders to exercise caution and await the Board's formal response reflecting its advice to shareholders before deciding to take any action in response to the unsolicited Offer by Harmony. ENDS In the United States, Gold Fields Limited ("Gold Fields") will file a Solicitation/Recommendation Statement with the US Securities and Exchange Commission (the "SEC") on Schedule 14D-9 and holders of Gold Fields' Ordinary Shares and American Depositary Shares are advised to read it when it becomes available as it will contain important information. Copies of the Schedule 14D-9 and other related documents filed by Gold Fields will be available free of charge on the SEC's website at http://www.sec.gov. Any documents filed by Harmony Gold Mining Company Limited, including the registration statement on Form F-4 (which includes a preliminary prospectus) dated October 21, 2004 and related exchange offer materials as well as its Tender Offer Statement on Schedule TO filed with the SEC on October 22, 2004, will also be available free of charge on the SEC's website. END
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