Gifts, meals and entertainment

The Code applies to me.    
Gold Fields Tip-offs Hotline: 1800 623 245 (Australia)

The snapshot

The giving, offering or receiving of certain gifts and entertainment can decrease others’ trust in Gold Fields and should be avoided. Included here are any gifts or entertainment that appear to be bribes, raise questions of conflict of interest for you or Gold Fields, or could damage the Company’s reputation. No cash payments should be made unless authorised as stated below.

Offering of personal benefits to any government official (see Preventing and eliminating bribery and corruption) is not permitted. Gold Fields supports laws and regulations prohibiting bribery and corruption, which include strict rules concerning gifts, hospitality and entertainment involving government officials and third parties. The Gold Fields Group Anti-Bribery and Corruption (ABC) policy should be read in this regard.

Although Gold Fields recognises that social engagement and sharing of nominal gifts plays a valuable role in the building of constructive business relationships, you must not provide or accept hospitality, meals and entertainment which influence or might be seen to influence your integrity, professionalism or judgement in relation to business decisions and relationships.

The payment or reimbursement of travel, accommodation and/or living expenses must be covered by Gold Fields after approval by a member of the Rexco or Gold Fields Exco. Any such authorised payments must be recorded in the Gifts, Hospitality and Entertainment Register. No payment for accommodation, travel and/or living expenses should be made by a third party.

Any invitations which you accept or provide must be within the limits of reasonableness and should never be offered or received in exchange for preferential treatment in any business dealing.


No cash payments allowed unless approved in accordance with the provisions of this Code.

The detail
  • You are not permitted to give or accept, directly or indirectly, favours, gifts, entertainment, hospitality or business courtesies that might compromise or be seen to compromise your professionalism or impartiality or which may, in any way impair your ability to act or be seen to act with integrity and in the best interests of Gold Fields. This requirement extends to your immediate family members.
  • With the exception of de minumus payments set out in written policies approved by the Gold Fields Exco, no cash payments, discounts, or vouchers, no matter how small, may be given to or accepted from any third party of Gold Fields under any circumstances. Should any extraordinary request be made for a payment over the agreed de minumus amount, then approval will be required from the CEO, CFO, and the EVP: Group General Counsel.
  • You are, however, not precluded from accepting or giving of novelty or advertising items of the nominal value, which are widely distributed by the donor e.g. wine, calendars, pens, diaries, ties etc. Should the value of any of the novelty or advertising items exceed the nominal value defined below, then approval to accept such items should be obtained from a Regional Exco or Gold Field Exco member. In the case of Gold Fields Exco members, approval is required from the CEO and/or CFO.  The CEO or CFO are required to obtain approval from the Chair of the Audit Committee.
  • Details of any favour, gift, entertainment, hospitality or business courtesy of any nature which are accepted by you, no matter how small, must, promptly following receipt, be recorded in the Gift, Hospitality and Entertainment Register to be maintained in the prescribed manner and form, by your Regional VP: Head of Legal or VP: Group Compliance.

The Gift, Hospitality and Entertainment Register must always be completed – irrespective of the value of the gift, and even if you declined the gift.

WHAT IS MEANT BY 'NOMINAL VALUE'?

What is meant by ‘nominal value’?

The following amounts are deemed to be a nominal value:

The South Deep operation has elected not to accept or give ANY gifts or business courtesies of any nature or quantum whatsoever.

  • Up to R500 (Corporate Office – South Africa)
  • Up to US$60 (North America)
  • Up to US$60 (South America)
  • Up to A$100 (Australia)
  • Up to US$60 (West Africa)
  • Up to US$60 (South East Asia, China or any other country)

These amounts set out above may be reviewed from time to time by the Gold Fields EVP: Group General Counsel.

For gifts, meals/entertainment and hospitality you give to others:

  • Use the total value of meals/entertainment that you give to a third party organisation at a single event. E.g. if you entertain multiple people from the same organisation at a specific event, the value is the total amount you spend for the total number of guests’ entertainment.

For meals/entertainment you accept from others:

  • Include only the value of the meal/entertainment you personally receive (including the value of meals/entertainment that your spouse or a non-Gold Fields employed family member receives).
  • The payment or reimbursement of travel (excluding short bus and coach travel), accommodation and/or living expenses should be covered by Gold Fields and may not be accepted from any current or potential third parties of Gold Fields.


EXAMPLE

Special discounts
An employee who was managing Gold Fields’ relationship with a travel agency accepted discounted rates for personal travel from the agency that were not available to other employees. The employee has violated the Code provisions on conflict of interest by accepting this personal benefit.


Exchanging entertainment with government officials
In addition to the provisions set out above the following requirements will apply when entertaining a government official see Preventing and eliminating bribery and corruption:):
1. Other than the regulated interactions with government officials on a day-to-day basis during Gold Fields working hours, no entertainment with government officials is permitted without the written approval of the Regional EVP and the EVP: Group General Counsel
2. Approved entertainment must be in line with the Gold Fields Group ABC Policy
3. Record entertainment offered to a government official whether accepted or declined

The EVP: Group General Counsel should be consulted if there is any risk that any entertainment could be seen as improperly influencing a
governmental official.

ALWAYS/NEVER

You should ALWAYS:

  • comply with the strictest of requirements for giving and receiving of gifts, hospitality and entertainment whether they are provisions of the Code, any local internal policies, third party rules, contract terms or applicable legal requirements;
  • return any gift of cash or cash equivalent that you receive from a third party, complete the Gift, Hospitality and Entertainment Register and notify your legal department that you have done this;
  • if you believe it would be insulting to decline a gift, report it to your VP: Head of Legal who will decide whether it can be retained by Gold Fields, donated to charity (either itself or proceeds from the sale) or returned. Return any indecent or improper gift. Always record the actions taken in the Gift, Hospitality and Entertainment Register; and
  • obtain proper approval from your Regional Exco member or Gold Fields Exco member before offering or accepting any gift, hospitality or entertainment from a third party.

You should NEVER:

  • offer, give or receive any gift, hospitality or entertainment that:
    • could be construed as a kickback, bribe, payoff or violation of any law or other Gold Fields policy and procedure;
    • is cash or cash equivalent, including a bank cheque, money order, investment security, gift certificate/card or negotiable instrument;
    • was solicited or offered in return for something else; and
    • is indecent, sexually orientated, does not comply with our values or could adversely affect our reputation.
  • offer, give or receive any gifts, hospitality or entertainment with a third party when you are involved in or could influence a tender or competitive bidding process;
  • personally pay for any gift, hospitality or entertainment to avoid having to report or seek approval for it or which you know the Company would not or has not approved payment for; and
  • conceal or assist in the concealment of the offering, giving or receiving of gifts, hospitality and entertainment.

See Preventing and eliminating bribery and corruption for information on interactions with government officials.

RECORD IT IN THE GIFT, HOSPITALITY AND ENTERTAINMENT REGISTER

Record it in the Gift, Hospitality and Entertainment Register

The acceptance of any invitation whatsoever of hospitality or entertainment must be recorded in the prescribed Gift, Hospitality and Entertainment Register. Examples would include, without limitation, meals, attendance at sporting, social or cultural events and shows, hunting, fishing or any other recreational trips or pursuits. In addition, the acceptance of any invitation, hospitality or entertainment valued atover the nominal value defined above, requires prior written clearance from a Gold Fields Exco member. If clearance is not forthcoming, you are required to decline the invitation politely and explain Gold Fields' policy in this regard.

CHARITABLE GIVING

Any donation, sponsorship or other offer of support by any Gold Fields Group member must be preapproved by the Regional Exco (unless the value of the donation, sponsorship or offer of support or amount considered exceeds the limits set out in the Gold Fields Approval Framework, in which case approval will be required from the CFO). In the case of the Corporate Office, the CFO is required to approve.

Any donations, sponsorships or other offers of support to recognised charitable and non-profit organisations should only be made if their activities are aligned with the principles in this Code. This should be recorded in the Gifts, Entertainment and Hospitality Register.


FAQs

This will be deemed a gift. The maximum nominal value you can accept without approval is A$100, so you will need to get your Regional Exco member or Gold Fields Exco member’s approval and complete the Gifts, Hospitality and Entertainment Register. Ensure no tender processes are taking place whether you are involved in the process or not.

 

You may support visits of government and state company delegations to Gold Fields sites and offices but only if all items are approved in advance by the Regional EVP and the EVP: Group General Counsel. This requires that you complete the necessary registers after you have obtained the requisite approval.

 

Approval limits are for the total value of the gifts or entertainment offered or given to a particular third party. In this instance you will need Regional Exco or Gold Fields Exco approval as the total value of the entertainment is R4 000. This approach should be followed when recording gifts and entertainment in the Gifts, Hospitality and Entertainment Register.