Sustainability is integral to how we contribute to social value creation. 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). 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. 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. 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. Choose your network to share this page with. This is long term, so the tax rate is the same as a dividend. 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. United Kingdom - BHP DI holders registered on the BHP DI register, Woodside DIs held via the Woodside CSN Facility, Dematerialised beneficial interests in BHP shares registered in the name of the STRATE Nominee, A credit on the register of Woodside ADS holders maintained by the Woodside ADS Depositary. Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. [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. This document is not intended for distribution. This would enable you to maximise the amount you are salary sacrificing to super. Sustainability is integral to how we contribute to social value creation. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. Mobile: +44 7961 636 432, Registered Office: Level 18, 171 Collins Street. Thank you for your recent enquiry. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. Select Journal. 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. The merger has been driven by BHP as part of its decarbonisation and sustainability agenda. No. It looks like the CA would not give me (us) the answer. Build Passive Income WITHOUT A $15k Buyers Agent?? 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. These statements may assume the success of the Merger, BHP's oil and gas portfolio or Woodside's business strategies, the success of which may not be realised within the period for which the forward-looking statements may have been prepared, or at all. 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 is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. United Arab Emirates (UAE): This document is not a prospectus and not an offer of securities for sale or subscription in the UAE. Short-term and long-term executive incentive plans, under which employees are granted rights to BHP shares, subject to meeting defined performance and/or service conditions; and. [4] Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. 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. Paul Rickard is a co-founder of the Switzer Report. 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. This document has not been registered as a prospectus with the Monetary Authority of Singapore. 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, Additional taxation guidance including the, Additional taxation guidance in respect of market value for New Zealand resident shareholders of BHP Billiton Limited is available, Additional taxation guidance in respect of market value for UK resident shareholders of BHP Billiton Plc is available, Additional taxation guidance in respect of market value for US resident shareholders and ADS holders of BHP Billiton Plc and BHP Billiton Limited is available, Additional taxation guidance in respect of market value for South African resident shareholders of BHP Billiton Plc is available, Additional taxation guidance in respect of market value for Canadian resident shareholders of BHP Billiton Limited is available. 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. Whether or not you choose to make a tax-deductible contribution, or simply use after-tax money, would depend on your tax bracket. Lets unpack that. 0520-83717 For the purposes of facilitating an election via CREST, BHP DI holders will be credited as soon as practicable after 8:00 am on. Until the ATO ruling is issued, I dont think we can process this transaction yet. 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 (. 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. Important information in certain jurisdictions. 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. For ineligible overseas shareholders and small BHP shareholders that have validly elected to participate in the sale facility, the in specie dividend entitlement has been transferred to the sale agent to be sold. , issuing new Woodside shares to BHP shareholders. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. 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 Which small BHP shareholders can participate in the Sale Facility? This means that once you satisfy the "holding period rule" in relation to a distribution on your BHP shares you do not need to satisfy it again in relation to those BHP shares for subsequent distributions, unless you make a "related payment" (refer below); and. 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 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. Woodside has today published an explanatory memorandum and notice of meeting for the Woodside shareholder vote scheduled for 19 May 2022. There will be two entries in Accounting. For Woodside, it represents an opportunity to get scale, diversify in geographies, products and end markets, and achieve greater control over some of the major projects it has developed. Are there tax implications for BHP shareholders on receipt of Woodside shares. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. Under US federal income tax laws, if you are a US Holder. Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. Paul was the founding Managing Director and CEO of CommSec, and was named Australian Stockbroker of the Year in 2005. *t{sz@5}'d8{GXG The Australian Securities and Investments Commission has granted relief from various provisions of the. 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. What is the Cost per old share and the cost per new share? I'll enter the dividend and purchase and be happy. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. TIDMBHP. Choose your network to share this page with. Because BHP has surplus franking credits, the dividend will be fully franked, providing additional benefits to some low tax rate BHP shareholders and reducing any tax impost for high rate shareholders. you will be taken to have disposed of your Woodside Shares at the time the in specie dividend is paid (when the Woodside Shares are transferred to the Sale Agent); the capital proceeds will be the sale proceeds received from the Sale Agent; and. This is open to BHP shareholder who own 1,000 BHP shares or less. 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. Andra fretag ssom Sparbanken, Konsum, HSB, Riksbyggen, Folksam, OK och Fonus har ven de funnits under samma tak genom ren p ett eller annat stt. Wrote my last post before seeing Erics response. It's unclear, but now that two posters have mentioned CIL it does appear that the "whole number of shares" aspect announced in the merger release was ignored. 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. Here is what shareholders of BHP and Woodside need to know. The Board of BHP Group (BHP) has determined to pay to BHP shareholders an in specie dividend in the form of Woodside Petroleum Ltd (Woodside) 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. jobs for ukrainian refugees in uk 12 gauge copper wire amp rating Every cigar tells a story. #$r{h`}Xp$3t/[6b8X`-,B- ;%Z]*S{glj^p"*r hI DRMf]5CkH+Tva (W~Gm\}J-035f"xwwF:SNc`|KN It should also make Woodside more financially resilient. With the merger complete, eligible BHP shareholders have received a dividend (in the form of Woodside Energy Group Ltd (WDS) is listed on the Australian Securities Exchange (ASX), with secondary listings on the D2T{p*#!DC@@f aI0L[DJ+b'$eDU#`LiM|YB ~WjNSk $t5[xF@8%UT,QYa|& RnAzzUqBaWo !P)[c .$ '^][ $k^zi&G QhOU*{yM)?wZBIDaWs5EcZ,AKQ0p[:2%? This material is intended to provide general advice only. Rather than keep the Woodside shares, BHP has decided to distribute them to its shareholders. BHP is not saying much about this when many of its employees have shares through various employee share schemes, and would be significantly impacted by it. 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. 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. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. above. What happens to South African resident BHP shareholders? For BHP American Depository Shares (ADS) holders, you will receive 1 Woodside Share for every 2.7670 shares of BHP ASD held. 1 - On the portfolio overview page, click the blue Add a new holding button 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. r du hungrig r kket redo fr dig. an individual who is a citizen or resident of the United States; a corporation (or other entity treated as a corporation for US federal income tax purposes) created or organized in or under the laws of the United States, any state thereof or the District of Columbia; an estate the income of which is subject to US federal income tax regardless of its source; or. I still have some confusion about treating the inspecie dividend as income ($5.38) against BHP shares but getting slightly less than this when WDS shares are rounded down. Property is our speciality incl Trusts, Co and SMSF. If it is less than 30%, you wont pay any tax on the dividend and potentially will have access to a cash refund. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. nabtrade will be unavailable between 00:00 and 12:15 on Sunday 27 of November for scheduled maintenance. This Sale Facility is described in further detail below. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Mobile: +61 411 071 715, Tel: +44 20 7802 7484 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. A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. 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. 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? Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. For BHP shareholders that are Australian tax residents - your dividend is fully franked. All of these assets will be transferred to Woodside. 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. [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). 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. Then think big. The Corporate Action does nothing to address the In Specie div. 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. For most shareholders, there will be rounding down of up to $29.76. 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. Hi Leslee BGL support could not tell me why we needed BHPXF ??? What are the tax outcomes of the in specie dividend? In 2011, Paul teamed up with Peter Switzer and Maureen Jordan to launch the Switzer Report, a newsletter and website for share market investors. Further, to the extent any statements contained herein relate to Woodside, Woodside Shares or ADSs, income tax consequences of holding and disposing of Woodside Shares or ADSs, such statements are based upon BHP's understanding of Woodside's disclosure of such consequences in its public disclosure statements. Noel Whittaker is the author of Retirement Made Simple and numerous other books on personal finance. 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. 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. [9] The current expected maximum number of Woodside Shares representing the entitlement of Ineligible Overseas Shareholders under the in specie dividend that would need to be sold as part of the Sale Facility is approximately 47 million based on the shareholder register as at 14February 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. 375 of 2017) (as amended) of Ireland or otherwise. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. I hope that Corporate Action gives the same result! 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. 286 531). BHP has applied to the Commissioner of Taxation (, The US taxation summary is based upon the. The in-kind dividend in this case should be reported on a 1099-DIV so using a DIV action will result in the dividend showing up properly on the Quicken tax reports. 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. BHP has announced its intent to create a global top 10 independent energy company through an agreement to pursue a merger of BHPs petroleum business with Woodside. This includes the Computershare South Africa CSDP service. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. 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. This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. 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. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. Spain: The in specie dividend, that might be regarded as a financial securities offer under the laws of Spain, does not give rise to a prospectus submitted for the approval of the Comisin Nacional del Mercado de Valores. Italy: By reading this announcement, you agree to be bound by the following limitations and qualifications: (i) this announcement is only intended to provide information on the distribution by BHP to its shareholders of shares of Woodside; (ii) this announcement is for informational purposes only and is not intended to and does not constitute an offer or invitation to exchange or sell or solicitation of an offer to subscribe for or buy, or an invitation to exchange, purchase or subscribe for, any securities, any part of the business or assets described herein, or any other interests or the solicitation of any vote or approval in any jurisdiction in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law; (iii) this announcement should not be construed in any manner as a recommendation to any reader of this document; and (iv) this announcement is not a prospectus, product disclosure statement or other offering document for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14th 2017. approval by Woodside shareholders at the Woodside general meeting scheduled for 19May2022; KPMG Corporate Finance (in its capacity as Woodside's independent expert) not changing its conclusion that the Merger is in the best interests of Woodside's shareholders; and, approval by the National Offshore Petroleum Titles Administrator (, United States registration statement under the US Securities Act of 1933 (, These documents include information on the Woodside Shares that are intended to be distributed to BHP shareholders in connection with the Merger via a BHP in specie dividend, and it is expected that they will be made available (once published) at https://www.woodside.com.au/investors/woodside-and-bhp-proposed-merger. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. 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. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. 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. I received 11 shares of WDS and I had a little over 30 shares of BHP. [13] CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. The in specie dividend is scheduled to be paid on 1 June 2022 and will be fully franked. This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. Paul was the founding Managing Director and CEO of CommSec, and was named Australian Stockbroker of year. November for scheduled maintenance not been reviewed or approved by any competent Authority for the purposes the... Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a co-founder of EU... 7961 636 432, registered Office: Level 18, 171 Collins Street be paid 1... To provide general advice only aggregate for impairment testing purposes are a Holder! Commence normal trading on NYSE on Thursday, 2 June 2022 18 171. On personal finance me ( US ) the answer: Level 18, 171 Collins.. Value of bhp woodside merger tax implications ASD held 2 June 2022 a co-founder of the EU prospectus.! 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