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)
||US$360 million: 3 year revolving credit facility (RCF) (with an
option to extend to up to 5 years) – margin 220bps over Libor;
||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).
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
||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
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.