Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, dated April 9, 2013, addresses South African tax considerations regarding the distribution of 731,648,614 Sibanye Gold Limited ordinary shares to Gold Fields shareholders. The distribution, an unbundling transaction under Section 46 of the South African Income Tax Act, occurred on the Last Day to Trade (LDT) of February 8, 2013, at a ratio of one Sibanye Gold share for every one Gold Fields share held.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, or debt metrics for Gold Fields Limited. It focuses exclusively on the valuation data required for tax allocation purposes as of February 11, 2013:
- Sibanye Gold Closing Price (Feb 11, 2013): R13.56
- Gold Fields Closing Price (Feb 11, 2013): R91.50
- Total Market Value of Distributed Sibanye Shares: R9,921,155,206
- Total Market Value of Gold Fields Shares: R66,945,848,181
- Allocation Ratio for Tax Basis: 12.90% to Sibanye Gold; 87.10% to Gold Fields
Material Changes
The primary material change reported is the completion of the unbundling of Sibanye Gold from Gold Fields. This transaction alters the capital structure of Gold Fields by distributing a significant asset (Sibanye Gold shares) to shareholders in specie. The filing provides the specific market values and allocation ratios necessary for shareholders to adjust their tax cost bases following this structural change.
Guidance, Outlook, and Risks
The document contains no financial guidance, revenue outlook, or management commentary regarding future operational performance. It includes a standard forward-looking statements disclaimer noting that actual results may differ due to risks such as the ability to complete transactions, operational effects, strategy implementation, capital expenditures, and gold price fluctuations. The filing explicitly states it is not legal or tax advice and advises shareholders to consult their own advisors regarding tax consequences in their specific jurisdictions.
Investor Verification Checklist
- Verify the record date (February 8, 2013) to confirm eligibility for the Sibanye Gold share distribution.
- Confirm the allocation ratio (12.90% Sibanye / 87.10% Gold Fields) for calculating the adjusted cost basis of holdings for tax purposes.
- Review Annexures 17 and 18 of the Pre-Listing Statement (dated January 10, 2013) for detailed tax summaries.
- Consult a tax advisor regarding the specific implications of the Section 46 unbundling transaction in the shareholder's jurisdiction of residence.