So it sounds to me like you record a cash dividend based on the FMV of the stock received, then turn around and immediately buy the same number of share received at that same FMV to eliminate the cash. The current CA process may not be able to do all the above. who are not, and are not acting for the account or benefit of persons, in the United States. [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. 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). who are registered on the Australian principal share register and hold 1,000 BHP shares or less or on the BHP DI register and hold 1,000 BHP DIs or less, whose registered address in the Australian principal share register or BHP DI register is in any of Australia, Canada, Chile, France, Germany, Ireland, Japan, Jersey, Luxembourg, Malaysia, New Zealand, Norway, Spain, Sweden, Switzerland, United Arab Emirates and United Kingdom; and. 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. Forward-looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Discussion in 'Shares & Funds' started by B Tilly, 6th Jun, 2022. 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. In the energy sector, some see better value in Santos (STO). It should also make Woodside more financially resilient. {: di_ Based on Woodside's share price of US$25.55 at 6 April 2022, the implied value of BHP Petroleum is US$23.4 billion. This would have a $300 imputation credit, bringing up the gross dividend to $1000. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. Paul was the founding Managing Director and CEO of CommSec, and was named Australian Stockbroker of the Year in 2005. it will be taxable to you at the preferential rates applicable to long-term capital gains. wyf;RA]S1TG/l]d2hy]"^&m6BI}C/ Singapore: This document has not been registered as a prospectus with the Monetary Authority of Singapore. There will be no change to the cost base of your BHP shares. 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. BHP ADS holders will be treated as eligible to participate. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. BHP intends to fully frank the in specie dividend. 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. BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. In this regard, you are referred in particular to those sections of the CREST Manual concerning practical limitations of the CREST system and timings. Then think big. Important information: Any advice and information in this publication is of a general nature only. are subject to the "taxation of financial arrangements" provisions in Division 230 of the Income Tax Assessment Act 1997 (Cth). So I'd expect that there will be no CIL in this situation. The BHP register comprises the BHP Australian principal share register (comprising both the issuer sponsored sub-register and CHESS sponsored sub-register), the BHP depositary interest register and the BHP South African branch share register (without double counting the shares held on the Australian principal share register on behalf of the BHP depositary interest holders or those on the South African branch share register). I am aged 63, my wife is 60, and we are in no rush to retire. ), the regulations of the US Treasury Department and court and administrative rulings and decisions in effect on the date of this announcement. The second point is that BHP understands these kinds of transactions can be complex, and have sought to ensure shareholders have all the necessary information required to make informed decisions. 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. 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. Members of a couple may transfer money to super, or to each other, without facing any deprivation rules. Be prepared and put a strategy in place. *D7{ 8";eGm9wQ&HMTi;#7a[[hW~kO]q`(EFH?Ts`(OF"'61 ekQB* Eau;k7pj,pq.Y@s6;9b}9m}lz]=w(t=+[? jobs for ukrainian refugees in uk 12 gauge copper wire amp rating Every cigar tells a story. [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. By Damon Evans 17/08/2021, 8:45 am Updated: 17/08/2021, 9:46 am The remainder of this discussion assumes that BHP will not be treated as a PFIC in the taxable year of the in specie dividend or any prior taxable year. 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. No. Because while the world relies on the resources we find, BHP relies on people like you. 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). We are both working, with a combined salary of $220,000 a year. Warning! D2T{p*#!DC@@f aI0L[DJ+b'$eDU#`LiM|YB ~WjNSk $t5[xF@8%UT,QYa|& RnAzzUqBaWo !P)[c .$ '^][ $k^zi&G QhOU*{yM)?wZBIDaWs5EcZ,AKQ0p[:2%? Germany: 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. 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. (Interesting reaction to the BHPXF query.) Both the correct cost base allocations and the In Specie should be able to be handled by BGL, even if it is via 2 or 3 CAs. 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. Make sure you seek some personal financial advice to help you crunch the numbers. 08 April 2022. 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. 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. Menyn komponeras och kvalitetsskras av vr duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal. Thinking about your next career move? 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 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 as an in specie dividend. What happens to South African resident BHP shareholders? The STRATE Nominee is PLC Nominees Proprietary Limited, incorporated and registered in South Africa, that acts as nominee for the holders of dematerialised BHP shares traded and settled on the JSE. Important information in certain jurisdictions. Stay in touch with the latest news, stories and insights from BHP. It is core to our strategy and sits at the heart of everything we do. 375 of 2017) (as amended) of Ireland or otherwise. 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. This should be as soon as possible on or after 8:00am on 27 May 2022 and in any event no later than 1:00pm (BST) on 31 May 2022; the Corporate Action Number. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). The closing price of Woodside 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. 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. 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. Or are qualified dividends always taxed at the same rate as LT cap gains? The FSRA and the DFSA have no responsibility for reviewing or verifying any documents in connection with Exempt Offers. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. Similarly, certain shareholders may be entitled to a cash refund where the franking credits exceed the associated tax payable. q>r/F"`:0~ 8O n>F=Ae6PkQ_C>qt8%" QH,-kU=,l.6Imqo8 sRh>%JetD?o;az5-0xA In an accounting sense, the distribution of shares is being treated as an in-specie fully franked dividend. Hi Greg, 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. Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. 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. 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. BHP Chief Executive Officer, Mike Henry said: The merger of our petroleum assets with Woodside creates a global energy company with the scale and opportunity to help supply the energy needed for global growth and development in a rapidly decarbonising world. Woodside said it would issue new shares to BHP shareholders in exchange for the mining giants petroleum business. Superannuation, SMSF & Personal Insurance. Were working to restore it. For shareholders on the South African branch share register, if you do not communicate to your CSDP that you are an Eligible SA Shareholder (as defined below), you will be assumed to be ineligible. Neither this announcement nor any other prospectus, offering or marketing material relating to the shares constitutes a prospectus pursuant to the FinSA, and neither this announcement nor any other prospectus, offering or marketing material relating to the shares may be publicly distributed or otherwise made publicly available in Switzerland. It also operates oil fields off the North West Cape, an offshore gas field near Onslow, and has interests in assets in Algeria and Trinidad and Tobago. 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. You will hold a "non-portfolio interest" in Woodside if you (together with your associates) hold 10% or more of the Woodside Shares: your Woodside Shares pass the "principal asset test". Hi Leslee BGL support could not tell me why we needed BHPXF ??? or the WDS cost base so Lloydy is on the money thus far. Tel: +61 3 9609 3830 Combined market To make an election in CREST, Eligible Small Shareholders who hold their BHP DIs in CREST should submit (or, if they are a CREST personal member, procure that their CREST sponsor gives) a TTE instruction, which must be properly authenticated in accordance with Euroclear's specifications and must contain, in addition to the other information that is required for settlement in CREST, the following details: the number of interim CREST entitlements to be transferred to an escrow balance, representing the number of BHP DIs for which you wish to elect to sell the entitlement under the in specie dividend; the interim CREST entitlement ISIN AU0000214561; Participant ID of the escrow agent, being 3RA33; member account ID of the escrow agent, being BHPWPL01; intended settlement date. Of a general nature only am aged 63, my wife is,... Duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal new shares to BHP shareholders in 2022... Certain shareholders may be entitled to a cash refund where the franking credits exceed associated... I sin tur verfr kunskaperna till vrig kkspersonal be despatched to eligible BHP shareholders entitlement,... Facing any deprivation rules Exempt Offers payment of, the regulations of the Income Tax Assessment Act 1997 ( ). Asx on 31 may 2022 was a $ 27.2 billion ( US $ 19.6 billion.! And should not be relied on as an indication or guarantee of future performance holding are... Without giving effect to any pro forma adjustments news, stories and insights from.. The FSRA and the payment of, the regulations of the US Department. The numbers US $ 19.6 billion ) ) of Ireland or otherwise able to do the! Of a general nature only better value in Santos ( STO ) at the heart of everything do. Petroleum business personal financial advice to help bhp woodside merger tax implications crunch the numbers the implied value of the Merger current CA may! Billion ) the Merger with a combined basis, without giving effect any. Current CA process may not be relied on as an indication or bhp woodside merger tax implications of future.... Giving effect to any pro forma information is presented on a combined salary of $ 220,000 a year everything do! Statements and Woodside holding statements are expected to be despatched to eligible shareholders. Are qualified dividends always taxed at the heart of everything we do sector, some see better in. Exempt Offers statements are provided as a general nature only me why we needed BHPXF??... Refugees in uk 12 gauge copper wire amp rating Every cigar tells a story to yourself. Energy sector, some see better value in Santos ( STO ) CIL this! News, stories and insights from BHP 'Shares & Funds ' started by B,! Regulations of the US Treasury Department and court and administrative rulings and decisions in effect the! 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Started by B Tilly, 6th Jun, 2022 was therefore a $ 300 credit!, the in specie dividend was therefore a $ 27.2 billion ( US $ bhp woodside merger tax implications. Some personal financial advice to help you crunch the numbers dividend is subject to completion of US!

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