Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, dated September 2, 2016, discloses dealings in securities by directors of major subsidiaries. The report details the award of Conditional Performance Shares under the Gold Fields Limited 2012 Share Plan, effective March 1, 2016, with the award date occurring on August 25, 2016.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, margins, debt, or liquidity figures for the company. The only specific financial metric disclosed is the share price used to value the performance share awards: R62.958 (the 3-day VWAP of May 18, 19, and 20, 2016).
Material Changes
No material changes to financial performance or operational status are reported in this filing. The document focuses exclusively on the execution of a share-based compensation plan for specific directors.
Guidance, Outlook, and Management Commentary
Management commentary is limited to the terms of the share award. The vesting of Performance Shares (PS) is contingent upon achieving pre-determined performance conditions over a three-year period. The payout range is 0% to 200% of the initial award based on:
- Relative TSR: Performance against a basket of ten major gold mining companies.
- Absolute TSR: Share price performance from the start to the end of the period.
- Free Cash Flow Margin: Achievement of a pre-determined target.
No specific risks, contingencies, or unusual items regarding the company's broader operations are disclosed in this text.
Important Facts for Investors to Verify
- Award Recipients: Alfred Baku (Director, Gold Fields Ghana) received 165,123 PS; Nico Muller (Director, Gold Fields Operations and GFI Joint Venture) received 137,280 PS.
- Vesting Schedule: Shares vest on the third anniversary of the effective award date (March 1, 2019).
- Valuation Basis: Awards were calculated using a share price of R62.958.
- Regulatory Compliance: The filing confirms clearance was obtained under JSE Listings Requirements section 3.66.