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$10.0 billion of franking credits in total). :LS Oe.xzB1m qw'{2sq*A7\O 5wu=NGL_R,D}rD(ASlHqED>]2VEd=7d3jhQ@/O0TK "aQ5@F"p$ %2Q^qR& %hGQ3D`{,X:LL6r$;nzb Please try again later. Join Australia's most dynamic and respected property investment community. 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. Paul has more than 30 years experience in financial services and banking, including 20 years with the Commonwealth Bank Group in senior leadership roles. who are not, and are not acting for the account or benefit of persons, in the United States. 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. This information is provided by RNS, the news service of the London Stock Exchange. Doesnt look like BHPXF needs to be created. This Sale Facility is described in further detail below. 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. You should therefore ensure all necessary actions are taken by you (or by your CREST sponsor) to ensure a TTE instruction relating to the sale of the Dividend Entitlement settles prior to 1:00pm (BST) on 31 May 2022. Discussion in 'Shares & Funds' started by B Tilly, 6th Jun, 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. The following does not purport to be a complete analysis of all potential tax effects resulting from the in specie dividend or the ownership or disposition of Woodside Shares or Woodside ADSs after the receipt of the in specie dividend, and does not address all aspects of US federal income taxation that may be relevant to individual US Holders in light of their particular circumstances. 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. If you own 500 BHP shares, you receive 90 Woodside share. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. 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. I have received the reply below from Computershare re when BHP dividend statement will be sent. 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 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. 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. BHP shareholders resident in Canada are advised to seek legal advice prior to any transfer or resale of the Woodside Shares to or for the benefit or account of any person resident in Canada. 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. 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. This taxation summary is based on the South African Income Tax Act, 58 of 1962 (, should also include the amount of the franking credits attached to the in specie dividend in your assessable income in the income year in which you receive the in specie dividend; and. Great information flowing here. We succeed through the partnerships we build with our suppliers. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. BHP ADS holders will be treated as eligible to participate. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. BHP Group Limited. '_mqG"8atL~9#>3C>izcQYh'?>'"8jH|4+OsR}2=>EB@wa;Ass\{: Here is what shareholders of BHP and Woodside need to know. Can be up to $29.75 difference. This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Merger or otherwise, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Completion of the Merger occurred on 1 June 2022. 28. Going forward, the analysts are less enthusiastic. There will be no change to the cost base of your BHP shares. We are focused on unlocking pre-tax annual synergies of more than $400 million as we merge the two businesses. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. It will be fully franked, with franking credits of $2.48 per share. The franking credits can generally be used to offset any tax payable on the dividend. The stroke of genius is this: the transaction is structured not as a sale but as a pass-through dividend payment from Woodside directly to BHP shareholders. Hi All. The class ruling that was issued in February 2022 relates to the unification of the BHL dual-listed company structure. Woodside Energy Group Ltd (Woodside) and BHP Group Limited (BHP) have completed the merger of Woodside with BHPs oil and gas portfolio to create a global energy company. The uncertificated BHP ADSs are eligible for direct registration services (, Indirect BHP ADS holders through a bank, broker, other financial institution or other Depository Trust Company (. By reason of the foregoing, if you are in Malaysia, you may not distribute this document to anyone other than your own financial and legal advisors, nor may you make copies of this or any other document you receive, except to the extent necessary to consult with your financial and legal advisors who are advising you in connection with this potential investment (and only so long as such advisors agree to hold this information confidential and not use it for purposes other than advising you in connection herewith). Woodside Energy says it has completed its merger with BHPs oil and gas portfolio and new Woodside shares will start trading this week. Zc=rQ/g&RA$(H Anj_.pqOr >-Rm% l FEl e>-0RDp}21gGR$viG(f2[AQn;AmcjwW8l _ nT~?=Kb(XV;Q57 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. Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the Furthermore, this summary does not address all US federal income tax considerations that may be relevant to certain categories of US Holders that may be subject to special treatment under the US federal income tax laws, will not be treated as a Passive Foreign Investment Company (, the determination of whether a foreign corporation is a PFIC is primarily factual and there is little administrative or judicial authority on which to rely to make such a determination, the United States Internal Revenue Service (. Noel Whittaker is the author of Retirement Made Simple and numerous other books on personal finance. Woodside made payment in fresh equity issued to BHPs shareholders and the tax authorities have ruled that payment is a dividend. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. Hi Greg, 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. Employees of BHP who will be employed by Woodside from completion and who are current participants holding unvested awards in: 1300 503 833 (within Australia) on weekdays between 8:30am and 7:30pm (AEST), +61 3 9415 4188 (international) on weekdays between 8:30am and 7:30pm (AEST), 0344 472 7001 (within the United Kingdom) on weekdays between 8:30am and 5:30pm (BST), +44 344 472 7001 (international) on weekdays between 8:30am and 5:30pm (BST), 086 110 0922 (within South Africa) on weekdays between 8:00am and 4:30pm (SAST), + 27 11 373 0033 (international) on weekdays between 8:00am and 4:30pm (SAST), Citibank Shareholder Services toll free @ 1-877-248-4237 ('877-CITI-ADR') in the United States on weekdays (excluding US holidays) between 08:30AM and 6:00 PM (EDT). 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. 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. 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). 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. With the merger complete, eligible BHP shareholders have received a dividend (in the form of All shareholders and ADS holders of BHP Billiton, including those resident in other jurisdictions not mentioned below, should review Section 8 of the Shareholder Circular and consult with whose registered address in the BHP Australian principal share register on the applicable Record Date is in South Africa, will be an Ineligible Overseas Shareholder, unless the relevant shareholder nominates that they are an Eligible SA Shareholder by completing and returning to the BHP share registry before 5:00pm on Tuesday, 24 May 2022 (AEST) the South African Share Election Form. 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. 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. Members of a couple may transfer money to super, or to each other, without facing any deprivation rules. Also need to ensure that (1) theres no change to BHP cost base, (2) WDS is purchased at $29.76/share. There will be two entries in Accounting. My husband is 66.5 years of age and is about to apply for an age pension. We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. He shares his three tips on finding FIFO happiness. Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. Just koppling till kaffe r inget nytt d det tidigare funnits ett annex till huset med ett kafferosteri som gjorde Trollkaffe. As part of completion, BHP has made a net cash payment of approximately US$0.7 billion to Woodside. r du hungrig r kket redo fr dig. In what form will BHP shareholders receive Woodside Shares? 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. 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. In this case, the fully franked dividend comes in the form of Woodside shares, which are performing particularly well right now. 20 May 2022. This material is intended to provide general advice only. These forward-looking statements are based on assumptions and contingencies that are subject to change without notice and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Woodside, BHP and their respective related bodies corporate and affiliates, and each of their respective directors, officers, employees, partners, consultants, contractors, agents, advisers and representatives, and could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by those forward-looking statements or any projections or assumptions on which those statements are based. One of Australias biggest corporate mergers is about to take place. To treat BHP employees fairly and restore the value of the unvested equity awards to their pre-completion value, BHP will grant those employees with additional BHP equity awards on the same substantive terms as the original unvested incentive awards or matching entitlements. Because not actual benefit has been received for this rounding amount, I assume we could simply reduce the in specie dividend to the value of the WDS shares received. 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. 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. 0520-83717 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. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. Surely, the earlier they know about it the better they can be prepared to find the additional tax. Thanks for your post and we have also updated your support call. We can help with complex CGT, Income Tax, and Developer issues. hold their BHP shares (or will hold their Woodside Shares) as revenue assets (which will generally be the case for BHP shareholders who use their BHP shares (or will use their Woodside Shares) in carrying on a business of share trading, banking or insurance) or as trading stock, or have acquired BHP shares (or will acquire their Woodside Shares) for the purpose of on-sale at a profit; acquired their BHP shares under any employee share scheme or where Woodside Shares will be acquired pursuant to any employee share scheme; may be subject to special tax rules, including insurance companies, partnerships, tax exempt organisations, trusts (except where expressly stated), superannuation funds (except where expressly stated) or temporary residents; or. The broker market analysts are positive on the merger, and this has been one of the reasons why Woodsides share price has risen strongly since it was announced .While the share price rise has been mainly driven by a higher oil price, the merger improves Woodsides asset base and has the potential to improve cash flow and deliver operating synergies. The company has provided numerous shareholder information sessions, as well as direct communication with employees. 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. 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. (If it kept them, it wouldnt achieve its decarbonisation and sustainability objectives). No. A little more information I gleaned last night because it is not a sale I do not thinkthere will be an ATO ruling could be wrong but [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. , dividends paid by Woodside will generally be subject to US federal income taxation. No. Important additional information and where to find it. 375 of 2017) (as amended) of Ireland or otherwise. Because the distribution is being implemented via the payment of a dividend, the capital implications are minimal. Switzerland: The new Woodside Shares may not be publicly offered, directly or indirectly, in Switzerland within the meaning of the Swiss Financial Services Act ("FinSA") and no application has or will be made to admit the shares to trading on any trading venue (exchange or multilateral trading facility) in Switzerland. 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). Did your value come anywhere close to the $3.86 / BHP share that I suggested might apply? BHP will make a cash payment to Woodside for the net cash flow generated by BHP Petroleum between the Merger effective date of 1 July 2021 and completion (, Last day BHP shares trade on JSE cum-entitlement to Woodside Shares. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. 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. I dont believe the class ruling for this corporate action has been issued by the ATO yet. 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. 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. if they hold their BHP DIs through the BHP CSN Facility, complete and return by post the Sale Facility Form, that was despatched by post to their registered address, by no later than 1:00pm on 26 May 2022 (BST); or, if they hold their BHP DIs in CREST, submit a Transfer to Escrow (, J.P. Morgan Securities Australia Limited or one of its affiliates (. Thinking about your next career move? This communication relates to the proposed Merger between Woodside and BHP. 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. Find one worth sharing. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. The closing price of Woodside BHP Group (BHP) inks a binding share sale agreement with Woodside for the merger of its oil and gas portfolio, which will create a global top 10 independent energy company by production. 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. This is long term, so the tax rate is the same as a dividend. 08 April 2022. Canada: Woodside is not, and does not intend to become, a reporting issuer in Canada. 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. 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. They should not provide this info if a tax ruling is pending. Email: noel@noelwhittaker.com.au, Merger deal may come with nasty tax surprise. hp 19a toner compatible printers menu menu Property is our speciality incl Trusts, Co and SMSF. 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. 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. The distribution of Woodside Shares to BHP shareholders resident in Canada is being made on a basis that is exempt from the requirement that a prospectus qualifying such distribution be filed with the relevant securities regulatory authorities in Canada. You may recognise a capital gain or loss for US federal income tax purposes equal to the difference between the US dollar value of the amount that you realise and your tax basis, determined in US dollars in respect of the disposal of your Woodside Shares or Woodside ADSs. Woodside's board unanimously recommended that the company's shareholders vote in favour of the merger. I am 62 and work part-time. --------------------------------------------------. (I have sought a Support answer but this approach (Community) might be a quicker response.) Select Journal. This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. shareholders reflective of assets contributed. RNS Number : 7719H. nabtrade will be unavailable between 00:00 and 12:15 on Sunday 27 of November for scheduled maintenance. Based on Woodsides share price of US$25.55 at 6 April 2022, the implied value of BHP Petroleum is US$23.4 billion. [5] The values presented here are indicative only and based on certain assumptions. BHP Group will transfer a smaller-than-expected $3.9 billion in oil and gas decommissioning liabilities to Woodside when it merges its petroleum business with the independent Australian gas producer. 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. 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. WebBHP Group (BHP) and Woodside Energy Group Ltd (WDS) Merger - May 2022 BHP Group (BHP) and Woodside Energy Group Ltd Ltd (WDS) (formerly known as Woodside Petroleum Ltd (WPL)), entered into a share sale agreement for the merger of BHPs oil and gas portfolio with Woodside by an all-stock merger on 22 November 2021. Investors on both sides of the merger will retain their underlying shareholdings in each company. 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. I have a question regarding cash held in the fund. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. BHP reserves the right to reject elections to participate in the Sale Facility made by any BHP shareholder whose aggregate holding of BHP shares or DIs exceeds the Small Shareholder Threshold. A new window will open. 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. 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. Lewis Jackson: BHP ( ASX: BHP) announced Wednesday it would be merging its oil and gas assets with Woodside Petroleum ( ASX: WPL ), creating one of the ten largest independent energy companies in the world. ?-&Y}*Iq_77QSsD Ru9@ `9 )'=cVYQ. 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. Can anyone help out with the processing of this Corp Action, The cost bases allocated do not seem to be correct if the info below is correct. I just checked what my broker listed as the basis for the new shares. Thank you for your recent enquiry. 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. Build Passive Income WITHOUT A $15k Buyers Agent?? 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. A CSN Facility is the corporate sponsored nominee facility arranged by the relevant company with Computershare Investor Services PLC to hold DIs in the company for and on behalf of participants in, and on terms and conditions that govern, the facility. The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. 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. Accordingly, this document and any other document or material in connection with the in specie dividend may not be circulated or distributed or be made the subject of an invitation for subscription or purchase, in each case whether directly or indirectly, to any person in Singapore, other than (i) pursuant to section 272(1) of the Securities and Futures Act, Chapter 289 of Singapore ("SFA") or (ii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. Paul was the founding Managing Director and CEO of CommSec, and was named Australian Stockbroker of the Year in 2005. Mobile: +61 411 071 715, Tel: +44 20 7802 7484 This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. 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"). Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. Important information in certain jurisdictions. [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. This communication should not be construed in any manner as a recommendation to any reader of this document. 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