Release Time IMMEDIATE Date 8 April 2022 Release Number 11/22 Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. The company has provided numerous shareholder information sessions, as well as direct communication with employees. D2T{p*#!DC@@f aI0L[DJ+b'$eDU#`LiM|YB ~WjNSk $t5[xF@8%UT,QYa|& RnAzzUqBaWo !P)[c .$ '^][ $k^zi&G QhOU*{yM)?wZBIDaWs5EcZ,AKQ0p[:2%? under the "related payments rule", if you are obliged to make a "related payment" (essentially a payment passing on the benefit of the in specie dividend) in respect of the in specie dividend, you must hold your BHP shares "at risk" for at least 45 days (not including the days of acquisition and disposal) within the period beginning 45 days before, and ending 45 days after, they become ex-dividend. Terms and conditions relating to the use and distribution of this information may apply. BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. [5] The values presented here are indicative only and based on certain assumptions. Idag finns Arbetarfreningen p vre plan medan Caf Strandgatan har hela nedre plan samt uteserveringen under sommarmnaderna. The forward-looking statements are subject to risk factors, including those associated with the oil and gas industry as well as those in connection with the Merger. The release explains that eligible BHP shareholders will receive one newly issued Woodside share for every 5.534 BHP shares they hold at the close of play on Thursday 26 May 2022. There will be two entries in Accounting. It should also make Woodside more financially resilient. A share sale facility will be in place for eligible small BHP shareholders who elect to participate, and for shareholders who are ineligible to receive Woodside Shares. [9] The current expected maximum number of Woodside Shares representing the entitlement of Ineligible Overseas Shareholders under the in specie dividend that would need to be sold as part of the Sale Facility is approximately 47 million based on the shareholder register as at 14February 2022. This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. Powered by Discourse, best viewed with JavaScript enabled. BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. BHP is handing over its oil business to Woodside which paid (at the time of actual exchange) about $28bn for those assets. Gentlemen, thanks for being here today. A new window will open. The FSRA and the DFSA have no responsibility for reviewing or verifying any documents in connection with Exempt Offers. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). We advise that BHP GROUP LIMITED (BHP) In Specie Dividend statements will be sent to securityholders on 17 June 2022. 8G$80]Zp9,r$e0n@7YzRa)Y]1?w|C+/e[ RN#Xb;pLh^tJ^Z3nq&t>r) wyf;RA]S1TG/l]d2hy]"^&m6BI}C/ It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets, conditions in various countries, approvals and cost estimates. 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. Lets unpack that. The company elaborated that its net profit after tax for the first half of 2022 will incorporate the contribution of the BHPs portfolio from completion and the accounting treatment of this portfolio will align with Woodsides policies. The current CA process may not be able to do all the above. Received some Woodside Shares from the recent merger. All of these assets will be transferred to Woodside. NAB Defence, your protection against fraud. In this regard, you are referred in particular to those sections of the CREST Manual concerning practical limitations of the CREST system and timings. This may vary depending on the BHP register as at the Record Date and could also be lower where South African BHP shareholders validly elect to receive the Woodside Shares to which they are entitled. 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. For ineligible overseas shareholders and small BHP shareholders that have validly elected to participate in the sale facility, the in specie dividend entitlement has been transferred to the sale agent to be sold. Because while the world relies on the resources we find, BHP relies on people like you. BHP Shareholders on the Australian principal share register with a registered address in New Zealand and who do not have any payment instructions recorded on their shareholding, will also have their sale proceeds paid into a separate bank account until valid New Zealand payment instructions have been provided to the BHP share registry. Approximately US$830 million of this amount will be paid in cash with the balance, which results from the take-up of Woodside's dividend reinvestment plan, factored into the 914.8 million of Woodside shares issued to BHP at completion. {: di_ Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. Wrote my last post before seeing Erics response. Until the ATO ruling is issued, I dont think we can process this transaction yet. Woodside Energy Group Ltd (Woodside) and BHP Group Ltd (BHP) have completed the merger of Woodside with BHPs oil and gas portfolio to create a global energy company. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. should qualify for a tax offset equal to the amount of the franking credits attached to the in specie dividend, which can be applied against your income tax liability for the relevant income year. 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. Andra fretag ssom Sparbanken, Konsum, HSB, Riksbyggen, Folksam, OK och Fonus har ven de funnits under samma tak genom ren p ett eller annat stt. If for example you own 100 BHP shares, you will receive 18 Woodside shares. [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. Generally, the market sees that the merger is a win for Woodside and while not a loss for BHP, its motive is around ease of exit rather than gaining a financial advantage. Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. Stay in touch with the latest news, stories and insights from BHP. BHP has divested the entire division to Woodside in exchange for Woodside equity. I have not received a dividend statement from BHPs share registry (Computershare) not can I find anything on Computershares web site. Choose your network to share this page with. In order to make separate elections a CREST holder may use this Sale Facility by converting, at their own cost, their holdings of DIs into distinct CREST holdings prior to the Record Date and make a separate TTE instruction in respect of each such parcel of interim CREST entitlements. The BHP link shared by Greg above (BHP Petroleum merger with Woodside | BHP) does shed some light on the accounting treatments needed for this corporate action. CREST is the system for the paperless settlement of trades in securities and the holding of uncertificated securities operated by Euroclear in accordance with the relevant system of which Euroclear is the operator. (I have sought a Support answer but this approach (Community) might be a quicker response.) Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. The South32 shares have since begun trading independently from BHP Billiton shares. This would have a $300 imputation credit, bringing up the gross dividend to $1000. Quote This announcement contains forward-looking statements. Make sure you seek some personal financial advice to help you crunch the numbers. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". No offer of securities in the United States shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. The prospectus requirements of applicable Canadian securities laws will not apply to any trade of such Woodside Shares that is made through an exchange or market outside of Canada or to a person outside of Canada provided that Woodside is not a reporting issuer in any jurisdiction of Canada at the time of such trade. Sustainability is integral to how we contribute to social value creation. Please try again. 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. (If it kept them, it wouldnt achieve its decarbonisation and sustainability objectives). BHP received 914,768,948 Woodside shares as consideration for the sale of BHP Petroleum. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, which BHP will in turn distribute to its eligible shareholders. On May 19th, 2022, Woodside (WDS:ASX) announced that it had approved to be acquired by BHP Group Ltd (BHP:ASX) effective by June 1st, 2022. Germany: This announcement does not constitute a prospectus according to Regulation 2017/1129/EU of the European Parliament and of the Council ("EU Prospectus Regulation") and has been prepared on the basis that the transactions described in this announcement do not constitute a public offer within the meaning of the EU Prospectus Regulation. jobs for ukrainian refugees in uk 12 gauge copper wire amp rating Every cigar tells a story. We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. They really should be able to work this out! In lieu of a cash dividend payment, you will receive shares. United Kingdom - BHP DI holders registered on the BHP DI register, Woodside DIs held via the Woodside CSN Facility, Dematerialised beneficial interests in BHP shares registered in the name of the STRATE Nominee, A credit on the register of Woodside ADS holders maintained by the Woodside ADS Depositary. So, no action is required. Financial results and Operational Reviews, Operational (Scope 1 and 2) decarbonisation, Value chain (Scope 3) greenhouse gas emissions, Carbon offsets and natural climate solutions, Our Global Inclusion and Diversity Council, Additional taxation guidance including the, Additional taxation guidance in respect of market value for New Zealand resident shareholders of BHP Billiton Limited is available, Additional taxation guidance in respect of market value for UK resident shareholders of BHP Billiton Plc is available, Additional taxation guidance in respect of market value for US resident shareholders and ADS holders of BHP Billiton Plc and BHP Billiton Limited is available, Additional taxation guidance in respect of market value for South African resident shareholders of BHP Billiton Plc is available, Additional taxation guidance in respect of market value for Canadian resident shareholders of BHP Billiton Limited is available. These are the only market participants who can liaise directly with the STRATE Nominee which allows for electronic settlement of BHP shares on the JSE. BHP has announced its intent to create a global top 10 independent energy company through an agreement to pursue a merger of BHPs petroleum business with Woodside. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. 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 has applied to the Commissioner of Taxation (Commissioner) for a class ruling confirming certain income tax implications of the implementation of the Merger for certain Eligible Shareholders. Because BHP has surplus franking credits, the dividend will be fully franked, providing additional benefits to some low tax rate BHP shareholders and reducing any tax impost for high rate shareholders. If a BHP shareholder holds one or more parcels of BHP shares or DIs as a trustee or nominee for, or otherwise on account of, another person, that BHP shareholder may make separate elections in accordance with the election process in respect of each of those parcels. Shareplus, an all-employee share plan, through which employees contribute funds after tax to purchase BHP shares, and where they hold the purchased shares for a specified length of time and satisfy an employment condition, they will receive an allocation of matched shares at the end of the holding period. Select Journal. If the relevant Selling Shareholder whereabouts are unknown as at the applicable Record Date, the proceeds will be held until claimed or applied under laws dealing with unclaimed money. As we noted; a brilliant deal, cleverly structured. q>r/F"`:0~ 8O n>F=Ae6PkQ_C>qt8%" QH,-kU=,l.6Imqo8 sRh>%JetD?o;az5-0xA Any participant in BHP employee share plans on the Record Date who are entitled to the distribution but whose addresses are shown in the employee share trust's or nominee's register on the Record Date as being in a jurisdiction outside of the jurisdictions described above will also be Ineligible Overseas Shareholders. Thanks. This announcement does not constitute a prospectus according to Regulation 2017/1129/EU of the European Parliament and of the Council ("EU Prospectus Regulation") and has been prepared on the basis that the transactions described in this announcement do not constitute a public offer within the meaning of the EU Prospectus Regulation. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). This Sale Facility is described in further detail below. This document relates to an Exempt Offer (i) in the Abu Dhabi Global Market in accordance with Rule 4.3.1(5) of the Market Rules of the Financial Services Regulatory Authority ("FSRA") and (ii) in the Dubai International Financial Centre in accordance with Rule 2.3.1(e) of the Markets Rules of the Dubai Financial Services Authority ("DFSA"). [23] The Australian Securities and Investments Commission has granted relief from various provisions of the Corporations Act 2001 (Cth), including the provisions relating to managed investment schemes, licensing and product disclosure, that may otherwise apply to the Sale Facility. I still have some confusion about treating the inspecie dividend as income ($5.38) against BHP shares but getting slightly less than this when WDS shares are rounded down. Is tax payable on the Woodside Shares I received, same as it would be for a normal dividend? Find out more with a free planning session. Based on the assumptions described in this announcement, upon implementation, BHP ADS holders as of the Record Date for BHP ADS, which is expected to be 5:00pm on 26May 2022 (EDT), are expected to be entitled to receive approximately 0.3614 of a Woodside ADS in respect of each BHP ADS owned at that time (subject to payment of taxes and applicable fees and expenses of Citibank, N.A , acting as the depositary of each of the BHP and Woodside ADSs (the. BHP Group (BHP) and Woodside Petroleum Ltd (Woodside) entered into a share sale agreement (SSA) for the merger of BHPs oil and gas portfolio with Woodside by an all-stock This reflects the net cash flows generated by BHP Petroleum, less cash dividends paid by Woodside to BHP, between the Merger effective date of 1 July 2021 and completion. The remainder of this discussion assumes that BHP will not be treated as a PFIC in the taxable year of the in specie dividend or any prior taxable year. Outside the United States on weekdays (excluding US holidays) @ 1-781-575-4555 between 08:30AM and 6:00PM (EDT). It is also worth noting that BHP shareholders who are Australian tax residents would be able to use franking credits to offset any tax payable on the dividend. #$r{h`}Xp$3t/[6b8X`-,B- ;%Z]*S{glj^p"*r hI DRMf]5CkH+Tva (W~Gm\}J-035f"xwwF:SNc`|KN Paul was the founding Managing Director and CEO of CommSec, and was named Australian Stockbroker of the Year in 2005. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. BHP does not take any responsibility in connection with a BHP shareholder's nomination to be an Eligible SA Shareholder, and each BHP shareholder nominating as an Eligible SA Shareholder must satisfy itself that they are permitted to receive Woodside Shares or Woodside DIs, including by seeking the advice of professional and legal advisers. On completion of the Merger, the combined company is expected to have a high margin oil portfolio, long life LNG assets and the financial resilience to help supply the energy needed for global growth and development over the energy transition. I intend to follow Lloydys process. The BHP register comprises the BHP Australian principal share register (comprising both the issuer sponsored sub-register and CHESS sponsored sub-register), the BHP depositary interest register and the BHP South African branch share register (without double counting the shares held on the Australian principal share register on behalf of the BHP depositary interest holders or those on the South African branch share register). BHP has applied to the Commissioner of Taxation (, The US taxation summary is based upon the. 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. 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. to satisfy the "holding period rule", you must have held your BHP shares "at risk" for at least 45 days (not including the days of acquisition and disposal) within the qualification period (which begins on the day after the day on which they are acquired and ends on the 45th day after they become ex-dividend). Does the amount of cash held include dividends received in any given year, or are the dividends in addition to the cash amount? We believe the future is increasingly clear and our strategy, portfolio, capabilities and approach to social value position us to play an important role in meeting the twin objectives of an accelerated energy transition, and continued economic development and improvement in living standards. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. 375 of 2017) (as amended) of Ireland, and the recipients of this document should seek independent legal and financial advice in determining their actions in respect of or pursuant to this document. With the merger complete, eligible BHP shareholders have received a dividend (in the form of 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. Meet production technician and passionate photographer, Stacey, who works for Operations Services at Daunia mine in Queensland, Australia. It will be fully franked, with franking credits of $2.48 per share. BHP Group (BHP) is pleased to announce that the merger of BHPs oil and gas portfolio with Woodside Energy Group Limited (Woodside) by an all-stock merger (Merger) has completed today. If you want to buy BHP shares to get the entitlement to the special dividend (and Woodside shares), you will need to do so by Tuesday 24 May. Top up tax may arise for shareholders where the tax payable in relation to the dividend exceeds the franking credits attached. Summary of the merger. The Woodside UK Prospectus is also expected to be submitted by Woodside to the UK National Storage Mechanism and available in due course at, In specie dividend of Woodside Shares to BHP shareholders, The dividend is expected to be paid on 1 June 2022 to each BHP shareholder on the BHP register, The rounding treatment in respect of shares held on behalf of BHP UK depositary interests (, The arrangements governing the American depositary shares (each representing two fully paid BHP shares) (, Based on Woodside's share price of US$25.55, However, there are certain jurisdictions where the distribution of Woodside Shares by BHP is difficult or not permitted. 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. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. 'S remit or jurisdiction, bringing up the gross dividend to $ 1000 the... 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