Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, dated May 31, 2018, discloses dealings in securities by directors of major subsidiaries. The report details the award and acceptance of Conditional Performance Shares under the Gold Fields Limited 2012 Share Plan, with an effective award date of March 1, 2018.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial metric disclosed is the share price used to value the performance share awards: R46.2814 (3-day VWAP of February 26, 27, and 28, 2018).
Material Changes
No material changes to financial results or operations are reported in this filing. The document focuses exclusively on the execution of equity incentive awards to specific directors.
Guidance, Outlook, and Management Commentary
The filing outlines the performance conditions required for the vesting of the awarded shares over a three-year period. Vesting is contingent upon achieving targets in:
- Relative Total Shareholder Return (TSR) against a peer group of ten major gold mining companies.
- Absolute Total Shareholder Return (TSR).
- Free Cash Flow Margin (FCFM).
The number of shares settled may range from 0% to 200% of the initial conditional award based on these metrics.
Important Facts for Investors to Verify
- Award Recipients: Conditional Performance Shares were awarded to C.W. Du Toit (22,404 shares) and P. Woodhouse (28,063 shares), both directors of major subsidiaries including Gold Fields Australia (Pty) Ltd and GSM Holding Company Limited.
- Vesting Timeline: Shares vest on the third anniversary of the effective award date (March 1, 2021).
- Valuation Basis: Awards were calculated using a share price of R46.2814.
- Regulatory Compliance: The company confirmed that necessary clearance was obtained in accordance with section 3.66 of the JSE Listings Requirements.