These include the fact that tax would be payable on any personal income derived from the in-specie dividend, as would be the case with a cash dividend payment. If you own 500 BHP shares, you receive 90 Woodside share. This would enable you to maximise the amount you are salary sacrificing to super. 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. BHPs main oil and gas assets are deep water oil wells in the Gulf of Mexico, the Bass Straight oil field (which is a 50/50 venture with Esso), and its joint venture interests in the North West Shelf. 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. All investors should therefore consider the appropriateness of the advice, in light of their own objectives, financial situation and/or needs, before acting on the advice. What is the Cost per old share and the cost per new share? 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. This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. No fractional Woodside ADSs will be issued or delivered to holders of BHP ADSs. Thank you to anyone who can answer this? [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. My support call has been escalated to the Product Team. Advertisement. 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). 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). [13] CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. 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). 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. 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. BHP has applied to the Commissioner of Taxation (, The US taxation summary is based upon the. Choose your network to share this page with. Thanks, Lloydy, you make a lot of sense.Will try your approach. Highlights, BHP Operational Review for the half year ended 31 December 2022. The in specie dividend is scheduled to be paid on 1 June 2022 and will be fully franked. The first is that everything BHP does is for shareholders, and the rationale for the deal is based on what is best for investors and for the company over the long term. Looks like a manual process. The User ID or Password entered is incorrect. Zc=rQ/g&RA$(H Anj_.pqOr >-Rm% l FEl e>-0RDp}21gGR$viG(f2[AQn;AmcjwW8l _ nT~?=Kb(XV;Q57 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. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. 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. 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. Many BHP shareholders could be in for a shock at tax time. It is expected that the final class ruling will be published by the Australian Taxation Office(ATO)shortly after the implementation of the Merger. Release Time IMMEDIATE Date 8 April 2022 Release Number 11/22 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. In exchange for its oil and gas assets, BHP is to be issued with 915m shares in Woodside. Choose your network to share this page with. It is core to our strategy and sits at the heart of everything we do. 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. 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. above. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. Based on the assumptions described in this announcement, upon implementation, BHP ADS holders as of the Record Date for BHP ADS, which is expected to be 5:00pm on 26May 2022 (EDT), are expected to be entitled to receive approximately 0.3614 of a Woodside ADS in respect of each BHP ADS owned at that time (subject to payment of taxes and applicable fees and expenses of Citibank, N.A , acting as the depositary of each of the BHP and Woodside ADSs (the BHP ADS Depositary and the Woodside ADS Depositary, respectively)). Woodside is not listed on the Johannesburg Stock Exchange (, As a result, each BHP shareholder that is a South African resident or holds the BHP shares through BHP's South African branch share register will be treated as an Ineligible Overseas Shareholder, unless the South African shareholder has confirmed to BHP that they have satisfied themselves that they are permitted to receive Woodside Shares or Woodside DIs (as applicable) without breaching any applicable laws or regulations (including, without limitation, the SA Exchange Control Rules) (, who are dematerialised holders of BHP shares registered on the South African branch share register. It must not be delivered to, or relied on by, any person apart from the shareholders of BHP in connection with proposed in specie dividend and participation in the Sale Facility. Summary of the merger. Som gst ska du kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med kanalen. :LS Oe.xzB1m qw'{2sq*A7\O 5wu=NGL_R,D}rD(ASlHqED>]2VEd=7d3jhQ@/O0TK "aQ5@F"p$ %2Q^qR& %hGQ3D`{,X:LL6r$;nzb [20] 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. 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. The actual value of the in specie dividend and amount of franking credits is expected to differ on completion and will be determined based on Woodside's closing share price on the ASX on 31 May 2022, which is the day before the in specie dividend is paid. Select Journal. NEWS RELEASE. [19] BHP ADS holders will receive a number of Woodside ADS that corresponds to the Woodside Shares received on the BHP Shares represented by BHP ADSs (subject to payment of taxes and applicable Woodside depositary and BHP depositary fees and expenses). I have a question regarding cash held in the fund. Sustainability is integral to how we contribute to social value creation. 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. BHPs world class portfolio is weighted towards commodities which support economic growth and have decarbonisation upside and combined with our operational excellence will underpin attractive returns and long-term value growth., Trading of Woodside shares and depositary interests. (I have sought a Support answer but this approach (Community) might be a quicker response.) 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. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. I took a simpler approach to the value. 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. 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 Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. A new window will open. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. A new window will open. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. Going forward, the analysts are less enthusiastic. I suggest you keep the investment property with an interest-only mortgage, to maintain any tax benefits it may be giving you. Unlike Woodside shareholders, BHP shareholders arent being asked to approve the merger. BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. This did not impact BHP's half year financial report as the Petroleum Assets were assessed in aggregate for impairment testing purposes. Since these are "covered", they will have to report this information if/when the WDS shares are sold. you hold a "non-portfolio interest" in Woodside. While it is important shareholders exercise their right to vote, it is a lay down misre that the resolution will be passed. 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 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 last date on which holders of BHP ADSs will be permitted to surrender their BHP ADSs and withdraw the BHP shares that their surrendered BHP ADSs represent is expected to be Friday 20 May 2022 (EDT). 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. Thats the way I will process it as well! TIDMBHP. The Sale Facility is only available to BHP DI holders who meet the Small Shareholder Threshold. 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. Property is our speciality incl Trusts, Co and SMSF. Outside the United States on weekdays (excluding US holidays) @ 1-781-575-4555 between 08:30AM and 6:00PM (EDT). 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. 28. Will keep you informed. Mark Taylor: 0520-83717 If you originally purchased your BHP shares (for say) $30.00, then after the merger, your cost base is still $30.00. The distribution ratio is 1 Woodside share for every 5.534 BHP shares owned. Our purpose is to bring people and resources together to build a better world. You also need to be carefull that the CA does not affect the BHP cost base. A Central Securities Depository Participant, being a participant as defined in section 1 of the Financial Markets Act 19, of 2012 (South Africa). Then think big. Are there tax implications for BHP shareholders on receipt of Woodside shares? [1] The Woodside disclosure documents described in this announcement have been issued by, and are the responsibility of, Woodside other than to the extent that another party has positively and expressly accepted responsibility for information in such documents. Update on BHP Petroleum and Woodside merger and share distribution information. [25] The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. 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. This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. Idag finns Arbetarfreningen p vre plan medan Caf Strandgatan har hela nedre plan samt uteserveringen under sommarmnaderna. [24] This payment will be made to BHP shareholders participating in the Sale Facility by BHP (through BHP's share registry in Australia or the UK, or their CSDP, as applicable) making a deposit into the bank account recorded with the BHP share registry or CSDP into which their BHP dividends are paid. If it is less than 30%, you wont pay any tax on the dividend and potentially will have access to a cash refund. Doesnt look like BHPXF needs to be created. Please try again. [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. 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. The South32 shares have since begun trading independently from BHP Billiton shares. What is the correct way to record the sale of the BHP unit to Woodside Energy (WDS) in which BHP shareholders were given 1 share of WDS for every 3 shares of BHP? woodside may be required to withhold tax (currently at the rate of 47%) on payments of dividends that are not fully franked and remit the amounts withheld to the The current estimate of the dividend entitlement is that BHP shareholders will receive one Woodside Share for every 5.5340 BHP shares. Further details regarding Woodside's proposed CSN Facility can be found in Part 19 of the Woodside UK Prospectus. If for example the Woodside share price on 31 May is $32.00, the BHP dividend will be $5.78 per share. This document is not intended for distribution. It will be fully franked, with franking credits of $2.48 per share. 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. This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. I'll enter the dividend and purchase and be happy. In order to make separate elections, the trustee or nominee must establish distinct holdings by 5:00pm on 24 May (AEST) on the BHP Australian principal share register or by 6:00pm on 26 May (BST) on the BHP DI register in respect of each parcel of BHP shares or DIs and must make a separate election in respect of each such parcel of BHP shares or DIs. On 1 June 2022 (Distribution Implementation Date), BHP exchanged all its shares in BHP Petroleum in exchange for Woodside issuing 914,768,948 shares to BHP. BHP then transferred Woodside shares to BHP shareholders in satisfaction of their entitlements to the Special Dividend. 34. BHP ADS holders will receive a number of Woodside ADS that corresponds to the Woodside Shares received on the BHP Shares represented by BHP ADSs (subject to payment of taxes and applicable Woodside depositary and BHP depositary fees and expenses). Following the merger, Australian shareholders will have A$29.76 tax cost base for every Woodside share received. Woodside's board unanimously recommended that the company's shareholders vote in favour of the merger. We do this through our strategy to deliver long-term value and returns through the cycle. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. 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. NAB Defence, your protection against fraud. This is allocated by Euroclear and can be found by viewing the relevant Corporate Action details in CREST; the Delivery Instruction with a priority of 80; contact name and telephone number in the shared note field. 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. We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. BHP DI holders holding through the BHP CSN Facility will be treated as eligible to participate. It has been prepared without having regard to or taking into account any particular investors objectives, financial situation and/or needs. 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. BHP is expected to receive 914.8 million newly issued Woodside Shares at completion and determine a fully franked in specie dividend of the Woodside Shares to BHP shareholders. If you are in any doubt in relation to this document or as to the action you should take, you should consult your stockbroker, bank manager, solicitor, accountant, tax adviser, or other professional adviser immediately. Our advisers are qualified and experienced and we don't outsource. 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. [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. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". Woodside shareholders dont need to do anything. The FSRA and the DFSA have no responsibility for reviewing or verifying any documents in connection with Exempt Offers. ), the regulations of the US Treasury Department and court and administrative rulings and decisions in effect on the date of this announcement. 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. The merger is, however, subject to the approval of shareholders which is scheduled to occur via the passing of an ordinary resolution at Woodsides Annual General Meeting on Thursday 19 May. 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 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). 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. Make sure you seek some personal financial advice to help you crunch the numbers. All prices and analysis at 2 May 2022. 08 April 2022. 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. In lieu of a cash dividend payment, you will receive shares. Uteservering 350 platser samt barhng. 08 April 2022. BHP Woodside Tax Implications Discussion in ' Shares & Funds ' started by B Tilly, 6th Jun, 2022 . 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. *D7{ 8";eGm9wQ&HMTi;#7a[[hW~kO]q`(EFH?Ts`(OF"'61 ekQB* Eau;k7pj,pq.Y@s6;9b}9m}lz]=w(t=+[? requesting that Woodside Shares (registered on Woodside's Australian principal share register) or Woodside DIs (registered on Woodside's DI register) be distributed to them. This is my intended approach. This information was produced by Switzer Financial Group Pty Ltd (ABN 24 112 294 649), which is an Australian Financial Services Licensee (Licence No. Normal system timing and limitations will therefore apply in connection with a TTE instruction and its settlement. Based on Woodsides share price of US$25.55 at 6 April 2022, the implied value of BHP Petroleum is US$23.4 billion. Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. Powered by Discourse, best viewed with JavaScript enabled.

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