Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, dated February 26, 2019, discloses dealings in securities by directors in compliance with JSE Limited Listings Requirements. The report details the acceptance of Conditional Performance Shares awarded on May 25, 2018, with an effective date of March 1, 2018. The award process was deferred to February 2019 due to general and special closed periods imposed on management.
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 for the performance share valuation: 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 solely on the administrative acceptance of equity awards by directors.
Guidance, Outlook, and Risks
The filing outlines the performance conditions for the awarded shares, which vest three years from the effective date. The number of shares settled will range from 0% to 200% of the initial award based on:
- 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) achievement of pre-determined targets.
No specific guidance, outlook, or risk factors regarding the company's future operations are provided in this text.
Important Facts for Investors
- Directors Involved: NJ Holland (Director of Gold Fields Ltd) and A Baku (Director of Gold Fields Ghana (Pty) Ltd).
- Award Details: NJ Holland accepted 380,207 Performance Shares; A Baku accepted 305,617 Performance Shares.
- Vesting Schedule: Shares vest on the third anniversary of the March 1, 2018 effective date.
- Valuation Basis: Awards were calculated using a share price of R46.2814.
- Regulatory Compliance: Necessary clearance was obtained in accordance with section 3.66 of the JSE Listings Requirements.