It has been prepared without having regard to or taking into account any particular investors objectives, financial situation and/or needs. Woodside said it would issue new shares to BHP shareholders in exchange for the mining giants petroleum business. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. Sustainability is integral to how we contribute to social value creation. The User ID or Password entered is incorrect. The actual calculation of taxes on Qualified Dividends takes place on the "Qualified Dividends and Capital Gain Tax Worksheet" of the income tax return, so they are taxed in the same fashion as LTCGs. 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. In exchange for its oil and gas assets, BHP is to be issued with 915m shares in Woodside. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. Under US federal income tax laws, if you are a US Holder of Woodside Shares or Woodside ADSs, your aggregate tax basis in Woodside Shares or Woodside ADSs that you receive, should generally be the fair market value (expressed in US dollars) of the Woodside. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. Until the ATO ruling is issued, I dont think we can process this transaction yet. Our advisers are qualified and experienced and we don't outsource. It must not be delivered to, or relied on by, any person apart from the shareholders of BHP in connection with proposed in specie dividend and participation in the Sale Facility. This did not impact BHP's half year financial report as the Petroleum Assets were assessed in aggregate for impairment testing purposes. The franking credits can then be used as a tax offset. 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. 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. There will be no change to the cost base of your BHP shares. Find one worth sharing. For most shareholders, there will be rounding down of up to $29.76. No. At this valuation, which is subject to change, the in specie dividend would be US$4.62 with US$1.98 of franking credits being distributed per BHP share (US$10.0 billion of franking credits in total). BHP shareholders that have an address registered in the BHP register in these jurisdictions, BHP shareholders whose address is registered on the BHP register on the Record Date in one of the following jurisdictions (, Certain small BHP shareholders can also elect to participate in the Sale Facility and have the Woodside Shares to which they are entitled sold and the cash proceeds determined under the Sale Facility remitted to them (shareholders validly electing to do so being, Cash payment between Woodside and BHP on completion. Accordingly, no part of the in specie dividend should be assessable to you in Australia nor subject to dividend withholding tax (, an exemption from income tax in the hands of BHP shareholders who constitute South African corporate shareholders on the basis that the BHP shares in respect of which the foreign dividend is paid are listed on the JSE; and. The BHP ADS Depositary is expected to recommence permitting cancellations and withdrawals of BHP ADSs from 5:00pm Friday, 3 June 2022 (EDT), following payment of the in specie dividend. Zc=rQ/g&RA$(H Anj_.pqOr >-Rm% l FEl e>-0RDp}21gGR$viG(f2[AQn;AmcjwW8l _ nT~?=Kb(XV;Q57 :LS Oe.xzB1m qw'{2sq*A7\O 5wu=NGL_R,D}rD(ASlHqED>]2VEd=7d3jhQ@/O0TK "aQ5@F"p$ %2Q^qR& %hGQ3D`{,X:LL6r$;nzb 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. 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. Sustainability is integral to how we contribute to social value creation. The cost base for your new Woodside shares will be the market value of Woodside shares on 31 May, which on a per share basis, should be 5.534 times the BHP dividend. Advertisement. BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. 52% Woodside . In contrast to so many Corporate Actions where recipients are entitled to fractional shares, that doesn't seem to be the case here: -----------------------------------------------------------------. [15] 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. My husband is 66.5 years of age and is about to apply for an age pension. We are both working, with a combined salary of $220,000 a year. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. No offer of securities of Woodside to the public is made, or will be made, that requires the publication of a prospectus pursuant to Irish prospectus law (within the meaning of section 1348 of the Companies Act 2014 of Ireland) in general, or in particular pursuant to the EU Prospectus Regulation. Top up tax may arise for shareholders where the tax payable in relation to the dividend exceeds the franking credits attached. NEWS RELEASE. 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. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. a trust (A) the administration of which is subject to the primary supervision of a US court and which has one or more "United States persons" (within the meaning of Section 7701(a)(30) of the Code) who have the authority to control all substantial decisions of the trust or (B) that has made a valid election under applicable US Treasury regulations to be treated as a United States person. Update on BHP Petroleum and Woodside merger and share distribution information. 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. The sale facility is the facility organised by BHP pursuant to a Share Sale Facility Agreement under which a sale agent, J.P. Morgan Securities Australia Limited or one of its affiliates, will sell the Woodside Shares represented by (i) the aggregate of all fractions of a Woodside Share that are subject to the rounding treatment described above to ensure each BHP shareholder receives a whole number of Woodside Shares; (ii) the dividend entitlement of Ineligible Overseas Shareholders; and (iii) Eligible Small BHP shareholders who have validly elected to have the Woodside Shares to which they are otherwise entitled sold via the Sale Facility. The sale proceeds may take up to 12 weeks to be remitted to BHP shareholders. Rather than keep the Woodside shares, BHP has decided to distribute them to its shareholders. Christine, A more fundamental question from me. 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. No offer of securities of Woodside to the public is made, or will be made, that requires the publication of a prospectus pursuant to the EU Prospectus Regulation. No offer of securities of Woodside to the public is made, or will be made, that requires the publication of a prospectus pursuant to Irish prospectus law (within the meaning of section 1348 of the Companies Act 2014 of Ireland) in general, or in particular pursuant to the EU Prospectus Regulation. The South32 shares have since begun trading independently from BHP Billiton shares. Canada: Woodside is not, and does not intend to become, a reporting issuer in Canada. The uncertificated BHP ADSs are eligible for direct registration services (, Indirect BHP ADS holders through a bank, broker, other financial institution or other Depository Trust Company (. The purpose of keeping three to four years planned expenditure in cash is to protect you from a situation where you would need to cash in growth assets at a time when the market is having one of its normal downturns. [28] BHP shareholders who become new BHP shareholders closer to the cut-off date for submission of elections and who wish to nominate that they are an Eligible SA Shareholder, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit such an election, and by no later than 5.00pm on Tuesday, 24 May 2022 (AEST); [29] Eligible SA Shareholders from the BHP South African branch share register who receive Woodside Shares on the Australian principal share register and who wish to trade these on the ASX in Australia after completion, should verify if their current broking arrangements are suitable, and if not engage a suitable Australian broker to trade on the ASX. If you own 500 BHP shares, you receive 90 Woodside share. This document is not intended for distribution. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. 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. 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. (I have sought a Support answer but this approach (Community) might be a quicker response.) 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. [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). BHP intends to fully frank the in specie dividend. 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. 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 merger (Merger) on 22 November 2021. 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. 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. This includes the Computershare South Africa CSDP service. BHP 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 However, the trustee or nominee may not accept instructions from an underlying beneficiary to make an election unless it is in respect of all parcels of BHP shares held by the trustee or nominee on behalf of that beneficiary, and the underlying beneficiary has confirmed to the trustee or nominee that its aggregated beneficial and legal holding of BHP shares is less than the Small Shareholder Threshold. 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. Vill du ge oss synpunkter eller frbttringsfrslag r du alltid vlkommen att kontakta oss antingen p plats eller via e-post. 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. Property is our speciality incl Trusts, Co and SMSF. 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. I intend to follow Lloydys process. 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. 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). 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. Mobile: +61 411 071 715, Tel: +44 20 7802 7484 The merger has been driven by BHP as part of its decarbonisation and sustainability agenda. They can elect to have their new Woodside shares sold on their behalf, free of brokerage or any charges. 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. --------------------------------------------------. This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. It is noted that Division 230 will generally not apply to the financial arrangements of individuals, unless an election has been made for those rules to apply. Are there tax implications for BHP shareholders on receipt of Woodside shares. 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). Stay in touch with the latest news, stories and insights from BHP. Woodside has today published an explanatory memorandum and notice of meeting for the Woodside shareholder vote scheduled for 19 May 2022. 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. Thinking about your next career move? 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. 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. Noel Whittaker is the author of Retirement Made Simple and numerous other books on personal finance. 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. Has anyone else received the statement? 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. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. Inneservering 75 platser Join Australia's most dynamic and respected property investment community. 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. This document does not constitute investment advice or the provision of investment services within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Idag finns Arbetarfreningen p vre plan medan Caf Strandgatan har hela nedre plan samt uteserveringen under sommarmnaderna. The current CA process may not be able to do all the above. This communication is not a substitute for the Registration Statement or the prospectus or for any other document that Woodside or BHP may file with the SEC in connection with the Merger and in specie dividend. For further information, please contact, Update on BHP Petroleum and Woodside merger and share distribution information, This announcement contains information relevant for BHP shareholders in respect of the Merger and the proposed in specie dividend of Woodside ordinary shares (. nabtrade will be unavailable between 00:00 and 12:15 on Sunday 27 of November for scheduled maintenance. , 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. In what form will BHP shareholders receive Woodside Shares? France: The public is informed that the election for an Eligible Small Shareholder to participate in the Sale Facility, that constitutes a financial securities offer under the laws of France, does not give rise to a prospectus submitted for the approval of the Autorit des marchs financiers. BHP shareholders who become new BHP shareholders closer to the cut-off date for submission of elections and who wish to nominate that they are an Eligible SA Shareholder, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit such an election, and by no later than 5.00pm on Tuesday, 24 May 2022 (AEST); Eligible SA Shareholders from the BHP South African branch share register who receive Woodside Shares on the Australian principal share register and who wish to trade these on the ASX in Australia after completion, should verify if their current broking arrangements are suitable, and if not engage a suitable Australian broker to trade on the ASX. Employees who continue to be employed by BHP will not receive the in specie dividend in respect of any unvested equity award or matching entitlement, and the value of the underlying BHP share to which they will receive on vesting will be reduced as a result of the in specie dividend that has been determined. Paul was the founding Managing Director and CEO of CommSec, and was named Australian Stockbroker of the Year in 2005. 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. 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. 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