Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited, a South African incorporated entity, covers the month of March 2011. The report was filed on March 18, 2011, to disclose a specific corporate action regarding executive compensation in compliance with the Listings Requirements of the Johannesburg Stock Exchange (JSE).
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a disclosure of securities transactions rather than a financial performance report.
Material Changes and Transactions
On March 1, 2011 (the Grant Date), Gold Fields Limited granted Share Appreciation Rights (SARS) and Performance Vesting Restricted Shares (PVRS) to directors of major subsidiaries and the Company Secretary. These offers were accepted on March 15 and 16, 2011.
- SARS Details: Allocated at the volume-weighted average price over the 20 trading days preceding the grant. The strike price was R119.15. They vest after three years with a three-year exercise window thereafter. Settlement may be in shares or cash at the company's discretion.
- PVRS Details: Conditionally awarded with settlement ranging from 0% to 300% of the award based on performance criteria met over three years. Settlement may be in shares or cash.
| Recipient | Position | SARS Granted | PVRS Granted |
|---|---|---|---|
| MD Fleischer | Director of major subsidiaries | 9,113 | 10,425 |
| TD McKeith | Director of major subsidiaries | 9,113 | 10,425 |
| SM Govender | Director of major subsidiaries | 7,950 | 8,150 |
| J Pauley | Director of major subsidiaries | 3,825 | 2,175 |
| C Farrel | Company Secretary | 2,700 | 1,575 |
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are discussed beyond the standard vesting conditions of the equity awards. The company confirmed that necessary clearance was obtained in accordance with section 3.66 of the JSE Listings Requirements.
Investor Verification Checklist
- Verify the total number of SARS and PVRS granted to ensure alignment with the company's long-term incentive plan.
- Confirm the strike price of R119.15 against the historical share price for the 20 trading days preceding March 1, 2011.
- Review the specific performance criteria attached to the PVRS to understand the potential dilution range (0% to 300%).
- Monitor future filings for the actual settlement method (cash vs. shares) once the three-year vesting period concludes.