Gold Fields Limited Form 6-K Summary
Business Context and Reporting Period
This Form 6-K was filed by Gold Fields Limited, a South African gold mining company, on June 7, 2011. The report covers the month of June 2011 and serves as a disclosure of dealings in securities by a director of the company's subsidiaries in compliance with the Listings Requirements of the Johannesburg Stock Exchange (JSE).
Key Financial Metrics
The filing does not provide financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on a specific securities transaction.
Material Changes
No material changes to the company's financial position or operations are reported in this filing. The document details a transaction involving Performance Vesting Restricted Shares (PVRS) allocated to Mr. TD McKeith under the 2005 Share Plan.
Management Commentary and Unusual Items
- Transaction Details: On June 2, 2011, Mr. TD McKeith, a director of various subsidiaries, acquired (off-market) and sold (on-market) 12,800 ordinary shares.
- Valuation: The market price per share was R110.33, resulting in a total transaction value of R1,412,224.
- Plan Mechanics: The PVRS vest on the third anniversary of the grant date. The final number of shares settled is determined by Gold Fields' share price performance relative to a peer group of five major gold mining companies, ranging from 0% to 200% of the conditional award.
- Compliance: Necessary clearance was obtained from SARS and the JSE in accordance with section 3.66 of the Listings Requirements.
Investor Verification Checklist
- Verify the current status of the 2005 Share Plan and any subsequent amendments.
- Confirm the performance metrics and peer group composition used to calculate PVRS vesting.
- Review the company's most recent Form 20-F for comprehensive financial data, as this 6-K contains no financial results.
- Check for any other director share transactions reported in subsequent filings.