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. All of these assets will be transferred to Woodside. 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. BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. The sale proceeds may take up to 12 weeks to be remitted to BHP shareholders. I'm joined by Morningstar's Mat Hodge and Mark Taylor to discuss. 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. Unlike Woodside shareholders, BHP shareholders arent being asked to approve the merger. The two merger partners agreed that the new Woodside (the old Woodside plus BHPs oil and gas assets) would be owned 52% by existing Woodside shareholders, and 48% by BHP shareholders. Our purpose is to bring people and resources together to build a better world. 0520-83717 They should not provide this info if a tax ruling is pending. To participate in the Sale Facility, Eligible Small Shareholders must make a valid election. This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. Thats the way I will process it as well! This would enable you to maximise the amount you are salary sacrificing to super. If a BHP shareholder holds one or more parcels of BHP shares or DIs as a trustee or nominee for, or otherwise on account of, another person, that BHP shareholder may make separate elections in accordance with the election process in respect of each of those parcels. Thinking about your next career move? Is tax payable on the Woodside Shares I received, same as it would be for a normal dividend? 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 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. Stay in touch with the latest news, stories and insights from BHP. Completion of the Merger occurred on 1 June 2022. Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". ), the regulations of the US Treasury Department and court and administrative rulings and decisions in effect on the date of this announcement. BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. 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. 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. He shares his three tips on finding FIFO happiness. Is there anyone who can give me the actual numbers for the BHP spinoff that I can enter into Quicken? 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. There will be no change to the cost base of your BHP shares. BHP has applied to the Commissioner of Taxation (, The US taxation summary is based upon the. It has been prepared without having regard to or taking into account any particular investors objectives, financial situation and/or needs. k 3{/,x |c#=G@? *;Nj7-4:Cr>&WXB't(TG&95g7YcL1a`9 I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. you hold a "non-portfolio interest" in Woodside. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. 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. Tel: +61 3 9609 3830 Investors on both sides of the merger will retain their underlying shareholdings in each company. Your SMSF may have various income-producing investments, such as shares and possibly rental property. 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. 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 Australian Securities and Investments Commission has granted relief from various provisions of the. We can help with complex CGT, Income Tax, and Developer issues. Join Australia's most dynamic and respected property investment community. If a BHP shareholder holds one or more parcels of BHP shares or DIs as a trustee or nominee for, or otherwise on account of, another person, that BHP shareholder may make separate elections in accordance with the election process in respect of each of those parcels. This document is not a prospectus and not an offer of securities for sale or subscription in the UAE. 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. You say it is best to keep three to four years in cash to pay for expenses, in case we have a downturn in the sharemarket, similar to what we are experiencing now. 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$25.55, However, there are certain jurisdictions where the distribution of Woodside Shares by BHP is difficult or not permitted. Because while the world relies on the resources we find, BHP relies on people like you. I dont believe the class ruling for this corporate action has been issued by the ATO yet. The closing price of Woodside The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. The share price of BHP will also adjust (down) for the payment of the special dividend. A Central Securities Depository Participant, being a participant as defined in section 1 of the Financial Markets Act 19, of 2012 (South Africa). Because the distribution is being implemented via the payment of a dividend, the capital implications are minimal. A regular commentator in the media, investment advisor and company director, he is also a Non-Executive Director of Tyro Payments Ltd and PEXA Group Limited. Combined market Completion of the Merger is on track and is targeted for 1 June 2022, subject to satisfaction of conditions precedent including approval by Woodside shareholders. These laws may change, possibly retroactively, and any change could affect the continuing validity of this discussion. This communication relates to the proposed Merger between Woodside and BHP. BHP ADS holders will receive a number of Woodside ADS that corresponds to the Woodside Shares received on the BHP Shares represented by BHP ADSs (subject to payment of taxes and applicable Woodside depositary and BHP depositary fees and expenses). Has anyone else received the statement? or Woodside ADSs on the date of the distribution under the in specie dividend. #$r{h`}Xp$3t/[6b8X`-,B- ;%Z]*S{glj^p"*r hI DRMf]5CkH+Tva (W~Gm\}J-035f"xwwF:SNc`|KN This document has not been registered as a prospectus with the Monetary Authority of Singapore. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. 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