Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, dated September 6, 2016, discloses a specific corporate governance event rather than periodic financial results. The report details the award and acceptance of Conditional Performance Shares to a director of major subsidiaries in compliance with JSE Limited Listings Requirements.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The only financial data point disclosed is the share price used to calculate the performance award: R62.958 (3-day VWAP of May 18, 19, and 20, 2016).
Material Changes
No material changes to the company's financial position or operations are reported in this document. The filing focuses exclusively on the execution of the 2012 Share Plan for a specific executive.
Guidance, Outlook, and Management Commentary
The filing outlines the performance conditions required for the vesting of the awarded shares over a three-year period. These conditions include:
- Relative TSR: Performance measured against a basket of ten major gold mining companies.
- Absolute TSR: Share price performance measured from the start to the end of the period.
- Free Cash Flow Margin: Achievement of pre-determined targets.
The number of shares to be settled ranges from 0% to 200% of the initial award based on these metrics. No broader strategic outlook or risk factors are discussed.
Important Facts for Investors to Verify
- Recipient: Philip Woodhouse, Director of major subsidiaries including Gold Fields Australia (Pty) Ltd.
- Award Details: 44,602 Performance Shares awarded on August 25, 2016, with an effective date of March 1, 2016.
- Vesting Schedule: Shares vest on the third anniversary of the effective award date.
- Valuation Basis: The award was calculated using a share price of R62.958.
- Regulatory Compliance: Necessary clearance was obtained under section 3.66 of the JSE Listings Requirements.