Corporate

GOLD FIELDS APPOINTS FOUR NEW NON-EXECUTIVE DIRECTORS TO THE BOARD

Gold Fields has announcement the appointments of four new independent non-executive directors to its Board of Directors. Impala Platinum CEO Terence Goodlace joined the Board as a director on 1 July 2016, while Alhassan Andani, the Chief Executive and Executive Director of Stanbic Bank Ghana, joined on 1 August 2016. Former KPMG Africa Chair, Yunus Suleman and Peter Bacchus, the Global Head of Mining and Metals and Joint Head of European Investment Banking at Investment Bank Jefferies, based in London, will join the Board on 1 September 2016.

Gold Fields Chairperson Cheryl Carolus said the four new directors will ensure continuity of the skills set of the Board as a number of the current directors were approaching retirement age over the next two years. Former director David Murray stepped down from the Board on 1 June 2016.

"The new directors provide the technical, financial, commercial and global mining experience necessary to help Gold Fields maintain and further strengthen its position as a global leader in sustainable gold mining," Ms Carolus said.

CREDIT FACILITIES SUCCESSFULLY REFINANCED

Gold Fields successfully refinanced its US$1,440 million credit facilities due in November 2017. The new facilities amount to US$1,290 million and comprise three tranches:

US$380 million: 3 year term loan – margin 250 basis points (bps) over Libor;
US$360 million: 3 year revolving credit facility (RCF) (with an option to extend to up to 5 years) – margin 220bps over Libor; and
US$550 million: 5 year RCF – margin 245bps over Libor.

The new facilities were concluded with a syndicate of 15 banks. On average, the interest rate on the new facilities is similar to the interest rate on the existing facilities. A total of US$645 million was drawn down from the new facilities on 13 June 2016 to repay the group's existing US$ facilities, with US$645 million remaining unutilised. The refinancing is a key milestone in Gold Fields' balance sheet management and increases the maturity of its debt, with the first maturity now only in June 2019 (previously November 2017).

CASH DIVIDEND

In line with the company's dividend policy to pay out a dividend of between 25 and 35 per cent of its earnings, the Board has approved and declared an interim dividend number 84 of 50 SA cents per ordinary share (gross) in respect of the six months ended 30 June 2016. This translates to 26 per cent of normalised earnings. The interim dividend will be subject to the Dividend Withholding Tax of 15 per cent. In accordance with paragraphs 11.17(a)(i) and 11.17(c) of the JSE Listings Requirements, the following additional information is disclosed:

The dividend has been declared out of income reserves;
The local dividends withholding tax rate is 15 per cent (fifteen per centum);
The gross local dividend amount is 50 SA cents per ordinary share for shareholders exempt from dividends tax;
The Dividend Withholding Tax of 15 per cent (fifteen per centum) will be applicable to this dividend;
The net local dividend amount is 42.500 SA cents per ordinary share for shareholders liable to pay the dividends tax;
Gold Fields currently has 821,532,707 ordinary shares in issue (included in this number are 856,330 treasury shares); and
Gold Fields’ income tax number is 9160035607.

Shareholders are advised of the following dates in respect of the final dividend:

Interim dividend number 84: 50 SA cents per share
Last date to trade cum-dividend: Tuesday 6 September 2016
Sterling and US dollar conversion date: Wednesday 7 September 2016
Shares commence trading ex-dividend: Wednesday 7 September 2016
Record date: Friday 9 September 2016
Payment of dividend: Monday 12 September 2016

Share certificates may not be dematerialised or rematerialised between Wednesday, 7 September 2016 and Friday, 9 September 2016, both dates inclusive.