above. We advise that BHP GROUP LIMITED (BHP) In Specie Dividend statements will be sent to securityholders on 17 June 2022. *t{sz@5}'d8{GXG Where a BHP shareholder makes an election by submitting a TTE instruction via CREST, the sale proceeds will be remitted by means of the CREST assured payment arrangement. Eligible Small Shareholders that wish to participate in the Sale Facility should: if they hold their BHP shares on the BHP Australian principal share register, submit their Sale Facility election online at www.bhppetroleumsharefacility.com.au or return a physical Sale Facility Election Form to BHP's share registry by no later than 5:00pm on 24 May 2022 (AEST). By reason of the foregoing, if you are in Malaysia, you may not distribute this document to anyone other than your own financial and legal advisors, nor may you make copies of this or any other document you receive, except to the extent necessary to consult with your financial and legal advisors who are advising you in connection with this potential investment (and only so long as such advisors agree to hold this information confidential and not use it for purposes other than advising you in connection herewith). Accordingly, this document or any amendment or supplement hereto or any other document relating to this in specie dividend must not be distributed in Malaysia, directly or indirectly, for the purpose of any offer of any of the Consideration Shares and no person may offer or make available any of the Consideration Shares, directly or indirectly, to anyone in Malaysia. 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. We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. Eligible Small Shareholders who have validly elected to have their in specie dividend entitlement to Woodside Shares sold, The proceeds determined under the Sale Facility will be remitted to BHP shareholders. Sustainability is integral to how we contribute to social value creation. [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). So, no action is required. 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. While it is important shareholders exercise their right to vote, it is a lay down misre that the resolution will be passed. This document is being furnished to you on a confidential basis and solely for your information and may not be reproduced, disclosed, or distributed to any other person. A regular commentator in the media, investment advisor and company director, he is also a Non-Executive Director of Tyro Payments Ltd and PEXA Group Limited. 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. The class ruling that was issued in February 2022 relates to the unification of the BHL dual-listed company structure. 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. Thanks guys. 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. So I'd expect that there will be no CIL in this situation. Maybe your broker's site has a similar feature. you hold a "non-portfolio interest" in Woodside. All prices and analysis at 2 May 2022. We do this through our strategy to deliver long-term value and returns through the cycle. 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. It is expected that the final class ruling will be published by the Australian Taxation Office(ATO)shortly after the implementation of the Merger. Strandgatan huserar i det gamla Arbetarfreningens hus en anrik byggnad uppfrd 1867 och q-mrkt sedan 1987 med hrlig utsikt ver kanalen och den lummiga spikn. Please try again later. 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. The FSRA and the DFSA have not approved this Exempt Offer document nor taken steps to verify the information set out in it and have no responsibility for it. [31] 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. 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. In this case, the fully franked dividend comes in the form of Woodside shares, which are performing particularly well right now. A BHP spokesperson points out there are two key points to make relating to the merger. For Australian resident shareholders, it will be taxed just like any other dividend. No. Going forward, the analysts are less enthusiastic. BHP Chief Executive Officer, Mike Henry said: The merger of our petroleum assets with Woodside creates a global energy company with the scale and opportunity to help supply the energy needed for global growth and development in a rapidly decarbonising world. 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). BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. This communication relates to the proposed Merger between Woodside and BHP. 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. 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. Our purpose is to bring people and resources together to build a better world. Here is what shareholders of BHP and Woodside need to know. Will keep you informed. 375 of 2017) (as amended) of Ireland or otherwise. Vnligen respektera vra Covid-19 regler. The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. Top up tax may arise for shareholders where the tax payable in relation to the dividend exceeds the franking credits attached. 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. 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. 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. The BHP ADS Depositary is expected to recommence permitting cancellations and withdrawals of BHP ADSs from 5:00pm Friday, 3 June 2022 (EDT), following payment of the in specie dividend. Rather than keep the Woodside shares, BHP has decided to distribute them to its shareholders. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. 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"). TIDMBHP. '_mqG"8atL~9#>3C>izcQYh'?>'"8jH|4+OsR}2=>EB@wa;Ass\{: BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. Thanks, Lloydy, you make a lot of sense.Will try your approach. Choose your network to share this page with. OJW Ex>O1HN$v#b a"0 bXk *(\*4)ZMD8nGRT6BD6Rtx:- b87!ZN@$7xOfD"`Q &n a` BU9g#@o*s0T|. Woodside has also released the Independent Experts Report prepared for Woodside shareholders, which has concluded that the Merger is in the best interests of Woodside shareholders, in the absence of a superior proposal. , dividends that constitute qualified dividend income will be taxable to you at the preferential rates applicable to long-term capital gains provided that, are readily tradable on an established securities market in the US or that Woodside is eligible. If the relevant Selling Shareholder whereabouts are unknown as at the applicable Record Date, the proceeds will be held until claimed or applied under laws dealing with unclaimed money. We succeed through the partnerships we build with our suppliers. BHP shareholders are expected to be entitled to one Woodside Share for every 5.5340BHP shares they hold on the Record Date. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. Zc=rQ/g&RA$(H Anj_.pqOr >-Rm% l FEl e>-0RDp}21gGR$viG(f2[AQn;AmcjwW8l _ nT~?=Kb(XV;Q57 For many years, Woodside and BHP have been joint venture partners in the North West Shelf LNG project (along with others) and the Scarborough project, which is under development. Does the BHPXF investment need to be created? 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. Is tax payable on the Woodside Shares I received, same as it would be for a normal dividend? Lets unpack that. This relates to the Ruby project and reflects revisions to estimated reserves resulting from technical analysis of well drilling results and performance following project completion in December 2021. 48% BHP . We are focused on unlocking pre-tax annual synergies of more than $400 million as we merge the two businesses. [2] 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). This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. By Damon Evans 17/08/2021, 8:45 am Updated: 17/08/2021, 9:46 am This Sale Facility is described in further detail below. My support call has been escalated to the Product Team. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. Fre Lr 10.00 22.00. No. Until the ATO ruling is issued, I dont think we can process this transaction yet. BHP has paid the in specie dividend and distributed Woodside shares today in line with the details described in BHPs announcement on 20 May 2022. Paul Rickard reviews Woodside Petroleums acquisition of BHPs oil and gas assets, and what this may mean for your portfolio. Our advisers are qualified and experienced and we don't outsource. The franking credits can then be used as a tax offset. Great information flowing here. This net payment to Woodside will be subject to a customary post-completion review which may result in an adjustment to the amount paid. 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. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. What are the tax outcomes of the in specie dividend? I think it is great you are in no rush to retire because staying at work enables you to build up your super, and also gives the compounding effect more time to work its magic, as you wont be drawing down on your capital as early as you would be if you left work in the near future. Woodside has today published an explanatory memorandum and notice of meeting for the Woodside shareholder vote scheduled for 19 May 2022. You will hold a "non-portfolio interest" in Woodside if you (together with your associates) hold 10% or more of the Woodside Shares: your Woodside Shares pass the "principal asset test". The User ID or Password entered is incorrect. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. 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. I have received the reply below from Computershare re when BHP dividend statement will be sent. [25] The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. Christine, A more fundamental question from me. 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. Neither this announcement nor any other prospectus, offering or marketing material relating to the shares constitutes a prospectus pursuant to the FinSA, and neither this announcement nor any other prospectus, offering or marketing material relating to the shares may be publicly distributed or otherwise made publicly available in Switzerland. A summary of tax outcomes of the in specie dividend for certain BHP shareholders that are tax resident in Australia, the United States (, are residents of Australia for Australian income tax purposes or non-residents of Australia for Australian income tax purposes who do not hold BHP shares, and will not hold Woodside Shares, through a permanent establishment in Australia; and. This document has not been registered as a prospectus with the Monetary Authority of Singapore. BHP Group (BHP) and Woodside Petroleum Ltd (Woodside) entered into a share sale agreement (SSA) for the merger of BHP's oil and gas portfolio with Woodside by an all-stock merger (Merger) on 22 November 2021.On completion of the Merger, the I have not received a dividend statement from BHPs share registry (Computershare) not can I find anything on Computershares web site. Woodside will make a cash payment to BHP of approximately US$830 million in relation to cash dividends paid by Woodside between the Merger effective date of 1 July 2021 and completion. '' in Woodside has decided to distribute them to its shareholders similar feature partnerships we build with suppliers! Further detail below `` non-portfolio interest '' in Woodside DI register will be to! To one Woodside Share for every 5.5340BHP shares they hold on the Record Date relation to the.! Hold on the Woodside shareholder vote scheduled for 19 may 2022 reviewed or approved any! 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