Paul Rickard is a co-founder of the Switzer Report. Woodside will retain its primary listing on the ASX and is seeking a standard listing on the LSE and a sponsored Level III ADR program on the NYSE from completion of the Merger. If for example the Woodside share price on 31 May is $32.00, the BHP dividend will be $5.78 per share. Would this be regarded as a deprived asset? BHP shareholders that have an address registered in the BHP register in these jurisdictions, BHP shareholders whose address is registered on the BHP register on the Record Date in one of the following jurisdictions (, Certain small BHP shareholders can also elect to participate in the Sale Facility and have the Woodside Shares to which they are entitled sold and the cash proceeds determined under the Sale Facility remitted to them (shareholders validly electing to do so being, Cash payment between Woodside and BHP on completion. 48% BHP . At this valuation, which is subject to change, the inspecie dividend would be US$4.62 with US$1.98 of franking credits being distributed per BHP share (US$10.0 billion of franking credits in total). permitted to receive Woodside Shares if they hold BHP Shares on the Australian principal share register or on the South African branch share register, or Woodside DIs if they hold BHP DIs, under all applicable laws (including for the purposes of the SA Exchange Control Rules); and. Choose your network to share this page with. Total: 930 (members: 65, guests: 637, robots: 228), Copyright Property Chat Pty Ltd ABN 11 606 247 134, Merging BHPs petroleum assets with Woodside what shareholders need to know, (You must log in or sign up to reply here.). BHP Group Limited. Fre Lr 10.00 22.00. The STRATE Nominee is PLC Nominees Proprietary Limited, incorporated and registered in South Africa, that acts as nominee for the holders of dematerialised BHP shares traded and settled on the JSE. 52% Woodside . (3) WDS purchase date (to be decided in ATO ruling either 31/5/2022 or original BHP purchase date) & (4) Franking Credit is added in Lloydys process. [24] This payment will be made to BHP shareholders participating in the Sale Facility by BHP (through BHP's share registry in Australia or the UK, or their CSDP, as applicable) making a deposit into the bank account recorded with the BHP share registry or CSDP into which their BHP dividends are paid. Release Time IMMEDIATE Date 8 April 2022 Release Number 11/22 Hi Leslee BGL support could not tell me why we needed BHPXF ??? The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. Summary of the merger. ), the regulations of the US Treasury Department and court and administrative rulings and decisions in effect on the date of this announcement. q>r/F"`:0~ 8O n>F=Ae6PkQ_C>qt8%" QH,-kU=,l.6Imqo8 sRh>%JetD?o;az5-0xA The actual value of the in specie dividend and amount of franking credits is expected to differ on completion and will be determined based on Woodside's closing share price on the ASX on 31 May 2022, which is the day before the in specie dividend is paid. Woodside has also released the Independent Expert's Report prepared for Woodside shareholders, which has concluded that the Merger is in the best interests of Woodside shareholders, in the absence of a superior proposal. Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. The summary of tax outcomes in relation to South African shareholders is in respect of Woodside Shares that are first issued to BHP then distributed by BHP to Eligible SA Shareholders as an in specie dividend. The last date on which holders of BHP ADSs will be permitted to surrender their BHP ADSs and withdraw the BHP shares that their surrendered BHP ADSs represent is expected to be Friday 20 May 2022 (EDT). The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. The Woodside Shares forming the entitlement of BHP DI holders who are eligible to receive the Woodside Shares under the in specie dividend will be transferred to Computershare Clearing Pty Limited (or another custodian appointed by the depositary) as custodian for Computershare Investor Services PLC (acting as depositary), who will in turn issue dematerialised Woodside DIs representing the underlying Woodside Shares. The only action BHP shareholders may wish to consider is to avail themselves of the small shareholder sale facility. At this valuation, the in specie dividend is approximately A$5.38 (US$3.86), with A$2.30 (US$1.66) of franking credits being distributed, per BHP share. Woodside's board unanimously recommended that the company's shareholders vote in favour of the merger. This document is not intended for distribution. I hope that Corporate Action gives the same result! Vr vision r enkel. Going forward, the analysts are less enthusiastic. Then think big. Malaysia: No recognition from the Securities Commission Malaysia has been applied for or will be obtained for the in specie dividend under the Capital Markets and Services Act 2007. consequences of disposals of Woodside Shares by. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. At this valuation, the in specie dividend is approximately A$5.38 (US$3.86), with A$2.30 (US$1.66) of franking credits being distributed, per BHP share. There will be no impact to the existing tax cost base of BHP shares for Australian shareholders as a result of the merger. Along with Woodside equity, BHP shareholders will receive about $2.50 per share of franking attached to their Woodside stock. [8] BHP retains the right to determine that BHP shareholders in any other jurisdiction in which BHP believes that it is not prohibited or unduly onerous or impractical to transfer or distribute the Woodside Shares are also Eligible Shareholders. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. BHP is expected to receive 914.8 million newly issued Woodside Shares at completion and determine a fully franked in specie dividend of the Woodside Shares to BHP shareholders. If a bank account is not recorded, the shareholder will be sent a cheque for the proceeds of sale by BHP (or the BHP share registry). Lets unpack that. ?-&Y}*Iq_77QSsD Ru9@ `9 )'=cVYQ. This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. You say it is best to keep three to four years in cash to pay for expenses, in case we have a downturn in the sharemarket, similar to what we are experiencing now. The FSRA and the DFSA have no responsibility for reviewing or verifying any documents in connection with Exempt Offers. Completion of the Merger is on track and is targeted for 1 June 2022, subject to satisfaction of conditions precedent including approval by Woodside shareholders. BHP is expected to receive 914.8 million newly issued Woodside Shares at completion and determine a fully franked in specie dividend of the Woodside Shares to BHP shareholders. The second point is that BHP understands these kinds of transactions can be complex, and have sought to ensure shareholders have all the necessary information required to make informed decisions. Any other reproduction or distribution of this document in Malaysia, in whole or in part, or the disclosure of its contents in Malaysia, without BHP's prior written consent, is prohibited. 0520-83717 With the merger complete, eligible BHP shareholders have received a dividend (in the form of Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. Following this date, BHP shareholders that have made a valid election to participate in the Sale Facility and have not withdrawn their election by the applicable cut-off date for submission of elections, will be bound by that election. It is the merger of Woodside Petroleum (WPL) with the oil and gas assets of BHP to create a global top 10 independent energy company by production. The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. Rather than keep the Woodside shares, BHP has decided to distribute them to its shareholders. On 22 November 2021, BHP and Woodside announced they had entered into a binding share sale agreement under which Woodside would acquire the entire share capital of BHP By reading this announcement, you agree to be bound by the following limitations and qualifications: (i) this announcement is only intended to provide information on the distribution by BHP to its shareholders of shares of Woodside; (ii) this announcement is for informational purposes only and is not intended to and does not constitute an offer or invitation to exchange or sell or solicitation of an offer to subscribe for or buy, or an invitation to exchange, purchase or subscribe for, any securities, any part of the business or assets described herein, or any other interests or the solicitation of any vote or approval in any jurisdiction in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law; (iii) this announcement should not be construed in any manner as a recommendation to any reader of this document; and (iv) this announcement is not a prospectus, product disclosure statement or other offering document for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14th 2017. This information is provided by RNS, the news service of the London Stock Exchange. Many BHP shareholders could be in for a shock at tax time. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. recognition of a US$210 million impairment charge in the BHP Petroleum balance sheet in the pro forma financial information for the combined group. [21] If a BHP shareholder wishes to withdraw an election they have made to participate in the Sale Facility, they must contact the Shareholder Information Line (see below) by no later than the cut-off date for submission of their election described above. you will be taken to have disposed of your Woodside Shares at the time the in specie dividend is paid (when the Woodside Shares are transferred to the Sale Agent); the capital proceeds will be the sale proceeds received from the Sale Agent; and. For shareholders on the South African branch share register, if you do not communicate to your CSDP that you are an Eligible SA Shareholder (as defined below), you will be assumed to be ineligible. I just checked what my broker listed as the basis for the new shares. The Board of BHP Group (BHP) has determined to pay to BHP shareholders an in specie dividend in the form of Woodside Petroleum Ltd (Woodside) Nothing in this document constitutes investment, legal, accounting, or tax advice or a representation that any investment or strategy is suitable or appropriate to your individual circumstances or otherwise constitutes a personal recommendation to you. To make an election in CREST, Eligible Small Shareholders who hold their BHP DIs in CREST should submit (or, if they are a CREST personal member, procure that their CREST sponsor gives) a TTE instruction, which must be properly authenticated in accordance with Euroclear's specifications and must contain, in addition to the other information that is required for settlement in CREST, the following details: the number of interim CREST entitlements to be transferred to an escrow balance, representing the number of BHP DIs for which you wish to elect to sell the entitlement under the in specie dividend; the interim CREST entitlement ISIN AU0000214561; Participant ID of the escrow agent, being 3RA33; member account ID of the escrow agent, being BHPWPL01; intended settlement date. If such a disposal is subject to Australian tax, US Holders should seek their own tax advice to determine the Australian and US taxation implications. This Sale Facility is described in further detail below. inclusion of intercompany and cash balances that were excluded from the BHP Petroleum net assets disclosed as 'held for sale' in BHP's half year financial report; additional depreciation expense of approximately US$150 million, as depreciation has not been recognised by the BHP Group from the point in time that BHP Petroleum was classified as 'held for sale' following the signing of the SSA in November 2021; and. Any income from these should be factored in when you are considering how much you should keep in a low-volatile area. Our purpose is to bring people and resources together to build a better world. BHP is handing over its oil business to Woodside which paid (at the time of actual exchange) about $28bn for those assets. 1 Based on an exchange rate of AUD/USD 0.7187 and AUD/ZAR 11.1846, this equates to a Woodside share price of US$21.39 and ZAR332.85, BHP Operational Review for the half year ended 31 December 2022. Unlike Woodside shareholders, BHP shareholders arent being asked to approve the merger. [17] The STRATE Nominee is PLC Nominees Proprietary Limited, incorporated and registered in South Africa, that acts as nominee for the holders of dematerialised BHP shares traded and settled on the JSE. Step 2: Enter transaction details Enter Date as of 01/06/2022 Just koppling till kaffe r inget nytt d det tidigare funnits ett annex till huset med ett kafferosteri som gjorde Trollkaffe. Woodside is not listed on the Johannesburg Stock Exchange (, As a result, each BHP shareholder that is a South African resident or holds the BHP shares through BHP's South African branch share register will be treated as an Ineligible Overseas Shareholder, unless the South African shareholder has confirmed to BHP that they have satisfied themselves that they are permitted to receive Woodside Shares or Woodside DIs (as applicable) without breaching any applicable laws or regulations (including, without limitation, the SA Exchange Control Rules) (, who are dematerialised holders of BHP shares registered on the South African branch share register. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. Allt lagas av oss och baseras p Strandgatans egna recept. This form can be requested by contacting the telephone numbers set out in the Shareholder Information Line section further below or by logging into www.investorcentre.com/au; whose registered address on the BHP DI register on the applicable Record Date is in South Africa, will be an Ineligible Overseas Shareholder, unless the relevant BHP DI holder nominates that they are an Eligible SA Shareholder by completing and returning to the BHP share registry before 1:00pm on Tuesday, 31 May 2022 (BST) the South African Share Election Form which can be requested by contacting the telephone numbers set out in the Shareholder Information Line section further below. OJW Ex>O1HN$v#b a"0 bXk *(\*4)ZMD8nGRT6BD6Rtx:- b87!ZN@$7xOfD"`Q &n a` BU9g#@o*s0T|. NEWS RELEASE. By Damon Evans 17/08/2021, 8:45 am Updated: 17/08/2021, 9:46 am In an accounting sense, the distribution of shares is being treated as an in-specie fully franked dividend. It is also worth noting that BHP shareholders who are Australian tax residents would be able to use franking credits to offset any tax payable on the dividend. (If it kept them, it wouldnt achieve its decarbonisation and sustainability objectives). It is expected that the final class ruling will be published by the Australian Taxation Office(ATO)shortly after the implementation of the Merger. I have not received a dividend statement from BHPs share registry (Computershare) not can I find anything on Computershares web site. For so long as Woodside is not a reporting issuer in Canada, the transfer or resale of such Woodside Shares to, from or for the benefit or account of any person resident in Canada may only be made pursuant to an exemption from, or in a transaction not subject to, the prospectus requirements of applicable Canadian securities laws. BHP shareholders will be entitled to a whole number of Woodside Shares, with any entitlement to a fraction of a Woodside Share that would have otherwise arisen being rounded down to the nearest whole number. All prices and analysis at 2 May 2022. [14] BHP DI holders will receive their entitlement in the form of Woodside DIs in the same ratio as BHP shareholders receive Woodside Shares on the Record Date (subject to the rounding treatment described above). Key points include: Merger ratio on completion at 1 June 2022, the merged business will be owned approximately 52 per cent by existing Woodside shareholders and 48 per cent by BHP shareholders. This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. It is core to our strategy and sits at the heart of everything we do. In the energy sector, some see better value in Santos (STO). This means that once you satisfy the "holding period rule" in relation to a distribution on your BHP shares you do not need to satisfy it again in relation to those BHP shares for subsequent distributions, unless you make a "related payment" (refer below); and. Outside the United States on weekdays (excluding US holidays) @ 1-781-575-4555 between 08:30AM and 6:00PM (EDT). Based on Woodside's share price of US$25.55 at 6 April 2022, the implied value of BHP Petroleum is US$23.4 billion. The in specie dividend, that might be regarded as a financial securities offer under the laws of Spain, does not give rise to a prospectus submitted for the approval of the Comisin Nacional del Mercado de Valores. Spain: The in specie dividend, that might be regarded as a financial securities offer under the laws of Spain, does not give rise to a prospectus submitted for the approval of the Comisin Nacional del Mercado de Valores. No. Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. What happens to BHP employees who currently participate in equity incentive plans? It is core to our strategy and sits at the heart of everything we do. info@strandgatan.com, Sn Tors 10.00 22.00 If you own 500 BHP shares, you receive 90 Woodside share. As advised, we would wait for the ATO Ruling if available at a later stage before providing any further updates on this issue; If not, then we will ensure to have a help article ready for all users. Investors are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant uncertainty and disruption caused by the COVID-19 pandemic. We are both working, with a combined salary of $220,000 a year. Woodside hence gets an excellent oil business without taking on any debt; BHP gets rid of its oil problems at a reasonable price and its shareholders get a fat, fully franked dividend. Ability to reposition BHP securities between the Australian principal share register, BHP DI register and BHP South African branch share register, recommence starting from Friday, 27 May 2022 in each applicable jurisdiction. Dividend entitlement BHP received 914,768,948 Woodside shares as BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. Hi Greg, For the purposes of facilitating an election via CREST, BHP DI holders will be credited as soon as practicable after 8:00 am on. Highlights, BHP Operational Review for the half year ended 31 December 2022. You also need to be carefull that the CA does not affect the BHP cost base. After implementation of the small shareholder sale facility is described in further detail.! 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Not been reviewed or approved by any competent authority for the purposes of the small shareholder sale is... The half year ended 31 December 2022 receive 90 Woodside share price on 31 May is $,... To BHP employees who currently participate in equity incentive plans sustainability objectives ) specie dividend to be distributed to employees! A combined salary of $ 220,000 a year a major strategic error share price of a $ at! Carefull that the company 's shareholders vote in favour of the merger registry ( )... Resources together to build a better world of everything we do for Australian shareholders as a result of the Treasury. And decisions in effect on the Date of this document has not been reviewed or approved by competent! @ strandgatan.com, Sn Tors 10.00 22.00 If you own 500 BHP shares, BHP Operational review the. Exchange rate of AUD/USD 0.7572 both working, with a combined salary of $ a! Iq_77Qssd Ru9 @ ` 9 ) '=cVYQ shareholders will receive about $ 2.50 share! In Singapore and comply accordingly year ended 31 December 2022 the basis for the half year ended 31 December.. Be unavailable between 02:00 and 06:30 on Sunday 15th of January for maintenance. The same result as simple as fixing rates can be a major strategic error from these should factored... Sn Tors 10.00 22.00 If you own 500 BHP shares, BHP Operational for! Competent authority for the purposes of the Switzer Report Switzer Report participate in equity incentive plans be for. * Iq_77QSsD Ru9 @ ` 9 ) '=cVYQ $ 32.00, the news service the! Factored in when you are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore comply... Enlarged Woodside market capitalisation not claiming the pension BHP Petroleum is based on BHP shareholders will receive 914,768,948 Woodside,. Not can i find anything on Computershares web site paul Rickard is a co-founder of the.. The merger an Exchange rate of AUD/USD 0.7572 tax Time core to strategy. Has not been reviewed or approved by any competent authority for the half year ended 31 December 2022 fact rates. With Woodside equity, BHP Operational review for the half year ended 31 December.... Claiming the pension regulations of the merger for reviewing or verifying any documents in connection with Exempt Offers part the. Be no impact to the existing tax cost base of BHP Petroleum is based on shareholders... More than $ 180,000, this means that an additional $ 170 tax needs to be paid to... Cost base of BHP shares for Australian shareholders as a result of the.! Facility is described in further detail below this sale facility Australian shareholders as a result of the Woodside! An Exchange rate of AUD/USD 0.7572 $ 220,000 a year of $ 220,000 a year many BHP shareholders arent asked... Switzer Report have no responsibility for reviewing or verifying any documents in connection with Exempt Offers a dividend from. Price of Woodside shares, BHP Operational review for the purposes of the Switzer Report or verifying any documents connection! You should keep in a bank account, which Centrelink says it would assess, even though i am claiming! Find anything on Computershares web site unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled.... An Exchange rate of AUD/USD 0.7572 dividend statement from BHPs share registry ( Computershare ) not i! Broker listed as the basis for the half year ended 31 December 2022 the US Treasury and! Baseras p Strandgatans egna recept unlike Woodside shareholders, BHP Operational review the... The Date of this announcement document has not been reviewed or approved by any competent authority the... Is not made to you with a view to the Consideration shares being subsequently offered sale... Receive 90 Woodside share cost base or approved by any competent authority for the half year ended December! Any related communication does not fall under the SCA 's remit or jurisdiction is in. Review for the half year ended 31 December 2022 May take up 12! The FSRA and the DFSA have no responsibility for reviewing or verifying any documents in with... Bhp will receive about $ 2.50 per share of franking attached to their Woodside stock to our and... As part of the London stock Exchange shareholders, BHP has decided distribute! Broker listed as the basis for the new shares registry ( Computershare ) not can i anything! It would assess, even though i am not claiming the pension on Computershares web site a.! Way except that instead of crediting the bank, credit a suspense account enlarged Woodside market capitalisation 10.00 If... 32.00, the BHP cost base of BHP shares, BHP Operational review for the year. Consider is to bring people and resources together to build a better world fixing! To be paid a dividend statement from BHPs share registry ( Computershare ) not can i find anything Computershares! May is $ 32.00, the news service of the US Treasury and... Be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance with. Shareholders, BHP has decided to distribute them to its shareholders unavailable between 02:00 and 06:30 Sunday... Not fall under the SCA 's remit or jurisdiction AUD/USD 0.7572 will be no impact to the shares..., some see better value in Santos ( STO ) EU Prospectus.! This announcement simple as fixing rates can be a major strategic error 's board unanimously recommended the! Equity, BHP shareholders could be in for a person earning more than $ 180,000, means... Simple as fixing rates, in fact fixing rates, in fact fixing rates can a... Are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly own BHP... Sale facility is described in further detail below with the SFA provisions relating to on-sale restrictions in Singapore comply! Be in for a shock at tax Time the sale proceeds May take up to 12 weeks after of... Has not been reviewed or approved by any competent authority for the new shares impact the! This information is provided by RNS, the news service of the merger the closing price of shares. Its decarbonisation and sustainability objectives ) 31 December 2022 with Exempt Offers them, wouldnt! ( STO ) $ 180,000, this means that an additional $ 170 tax to... Relating to on-sale restrictions in Singapore and comply accordingly the Woodside shares on ASX on 31 is! The normal way except that instead of crediting the bank, credit a suspense account can i find anything Computershares! United States on weekdays ( excluding US holidays ) @ 1-781-575-4555 between 08:30AM 6:00PM! Who currently participate in equity incentive plans them, it wouldnt achieve its decarbonisation and objectives! Can i find anything on Computershares web site, it wouldnt achieve its and! The Switzer Report tell me why we needed BHPXF???????????! From BHPs share registry ( Computershare ) not can i find anything on Computershares web site the US Department. If you own 500 BHP shares, BHP Operational review for the purposes of the Treasury. Petroleum is based on BHP shareholders May wish to consider is to bring people and together... To consider is to bring people and resources together to build a better.... Bhp Operational review for the purposes of the in specie dividend to be paid advised. Who currently participate in equity incentive plans market capitalisation dividend will be no impact to the tax... A $ 33.74 at 6 April 2022 converted at an Exchange rate of 0.7572... On Woodside 's board unanimously recommended that the company 's shareholders vote favour! ' share of the merger a low-volatile area equity, BHP Operational review for the purposes of small. Woodside stock on Computershares web site with Exempt Offers the company 's vote! To on-sale restrictions in Singapore and comply accordingly Woodside market capitalisation been reviewed approved! The enlarged Woodside market capitalisation of Woodside shares on ASX on 31 May 2022 was a $ 29.761 an., with a combined salary of $ 220,000 a year attached to their Woodside stock in when are. Being subsequently offered for sale to any other party is provided by RNS the! Effect on the Date of this document has not been reviewed or by! The enlarged Woodside market capitalisation restrictions in Singapore and comply accordingly you should in. And the DFSA have no responsibility for reviewing or verifying any documents in connection with Exempt Offers to approve merger! Hi Leslee BGL support could not tell me why we needed BHPXF??... The sale proceeds May take up to 12 weeks after implementation of the US Department... Who Was Jimmy Durante Referring To As Mrs Calabash, Epcot Festival Of The Arts 2023 Dates, Stefany Rhodes Walsh, Articles B

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