Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, dated May 16, 2017, 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, effective March 1, 2017, with an award date of May 8, 2017.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, margins, debt, or liquidity figures. The only specific financial metric disclosed is the share price used to value the performance awards: R41.2943, calculated as the 3-day Volume Weighted Average Price (VWAP) for February 24, 27, and 28, 2017.
Material Changes
No material changes to financial performance or operations are reported in this filing. The document focuses exclusively on the execution of equity-based compensation for specific directors.
Guidance, Outlook, and Management Commentary
Management commentary is limited to the terms of the share awards. The number of shares settling on the vesting date (three years from the effective date) will range from 0% to 200% of the initial award based on three performance conditions:
- Relative TSR: Performance against a basket of ten major gold mining companies.
- Absolute TSR: Share price performance over the period.
- Free Cash Flow Margin: Achievement of pre-determined targets.
No specific risks, contingencies, or unusual items are disclosed in this text.
Important Facts for Investors
- Award Recipients: Performance Shares were awarded to L. Rivera (67,182 shares), N.A. Chohan (70,907 shares), and P. Woodhouse (43,202 shares).
- Vesting Schedule: All awards vest on the third anniversary of the effective date (March 1, 2020).
- Valuation Basis: Awards were valued at R41.2943 per share.
- Regulatory Compliance: The company confirmed necessary clearance was obtained under JSE Listings Requirements section 3.66.