Members of a couple may transfer money to super, or to each other, without facing any deprivation rules. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. 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. Going forward, the analysts are less enthusiastic. This represents the cash dividend that would have been received by holders of the Woodside Shares issued pursuant to the Merger had they been on issue on and from the effective date. [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). The acquisition date will be 1 June. To what extent will BHP shareholders' information transfer to the Woodside share register? Warning! As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. This announcement contains forward-looking statements. Did your value come anywhere close to the $3.86 / BHP share that I suggested might apply? 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. 375 of 2017) (as amended) of Ireland or otherwise. [11] This is also the last date on which BHP shareholders can reposition securities between the Australian principal share register, BHP DI register and BHP South African branch share register. The current estimate of the dividend entitlement is that BHP shareholders will receive one Woodside Share for every 5.5340 BHP shares. These laws may change, possibly retroactively, and any change could affect the continuing validity of this discussion. This discussion applies only to BHP shares, BHP ADSs, Woodside Shares and Woodside ADSs held as a "capital asset" for US federal income tax purposes (generally property held for investment). 286 531). We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. 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. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. On 22 November 2021, BHP and Woodside announced they had entered into a binding share sale agreement under which Woodside would acquire the entire share capital of BHP 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. There will be no change to the cost base of your BHP shares. 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. Important additional information and where to find it. 20 May 2022. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). recognition of a US$210 million impairment charge in the BHP Petroleum balance sheet in the pro forma financial information for the combined group. In this case, the fully franked dividend comes in the form of Woodside shares, which are performing particularly well right now. 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. 0520-83717 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 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. 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. 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. I am aged 63, my wife is 60, and we are in no rush to retire. Find out more with a free planning session. 1 Based on an exchange rate of AUD/USD 0.7187 and AUD/ZAR 11.1846, this equates to a Woodside share price of US$21.39 and ZAR332.85, BHP Operational Review for the half year ended 31 December 2022. Ireland: This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. [18] A Central Securities Depository Participant, being a participant as defined in section 1 of the Financial Markets Act 19, of 2012 (South Africa). Because while the world relies on the resources we find, BHP relies on people like you. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. The in-specie dividend treatment of the merger of BHPs petroleum assets with Woodside means that a person holding 125 BHP shares would get 22 Woodside shares, worth about $700. We succeed through the partnerships we build with our suppliers. k 3{/,x |c#=G@? *;Nj7-4:Cr>&WXB't(TG&95g7YcL1a`9 https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Superannuation, SMSF & Personal Insurance. As part of completion, BHP has made a net cash payment of approximately US$0.7 billion to Woodside. Singapore: This document has not been registered as a prospectus with the Monetary Authority of Singapore. BHP intends to fully frank the in specie dividend. BHP Group Limited. Are there tax implications for BHP shareholders on receipt of Woodside shares. Sustainability is integral to how we contribute to social value creation. At this valuation, the in specie dividend is approximately A$5.38 (US$3.86), with A$2.30 (US$1.66) of franking credits being distributed, per BHP share. I retired in June 2021 and have a self-managed super fund (SMSF), with investments in shares and cash. 8G$80]Zp9,r$e0n@7YzRa)Y]1?w|C+/e[ RN#Xb;pLh^tJ^Z3nq&t>r) 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. [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. Build Passive Income WITHOUT A $15k Buyers Agent?? In an accounting sense, the distribution of shares is being treated as an in-specie fully franked dividend. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Doesnt look like BHPXF needs to be created. 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. 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. 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. 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. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. If you own 500 BHP shares, you receive 90 Woodside share. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. BHP shareholders are expected to be entitled to one Woodside Share for every 5.5340BHP shares they hold on the Record Date. iDP>=[_4P\"g\q|;Na*g8$R[xw'`$Ns5}@;U?Di#g ? 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. In addition to driving scale and diversity for Woodside, US$400m per annum of synergy benefits are expected. A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. It will be fully franked, with franking credits of $2.48 per share. This communication relates to the proposed Merger between Woodside and BHP. 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. Thinking about your next career move? BHP has divested the entire division to Woodside in exchange for Woodside equity. 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. 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. hold their BHP shares (and will hold their Woodside Shares) on capital account. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. Maybe your broker's site has a similar feature. Woodside's board unanimously recommended that the company's shareholders vote in favour of the merger. [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 has acquired the entire share capital of BHP Petroleum International Pty Ltd The forward-looking statements are subject to risk factors, including those associated with the oil and gas industry as well as those in connection with the Merger. 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"). Thats the way I will process it as well! info@strandgatan.com, Sn Tors 10.00 22.00 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 shareholders dont need to do anything. 48% BHP . Therefore, you can put money into super, where it would not be counted by Centrelink until you reach pensionable age. I have a question regarding cash held in the fund. BHP ADS holders will be treated as eligible to participate. Because while the world relies on the resources we find, BHP relies on people like you. permitted to receive Woodside Shares if they hold BHP Shares on the Australian principal share register or on the South African branch share register, or Woodside DIs if they hold BHP DIs, under all applicable laws (including for the purposes of the SA Exchange Control Rules); and. This article does not reflect the views of WealthHub Securities Limited. 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. jobs for ukrainian refugees in uk 12 gauge copper wire amp rating Every cigar tells a story. 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. 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. Stay in touch with the latest news, stories and insights from BHP. [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. Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. No. 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. BHP is handing over its oil business to Woodside which paid (at the time of actual exchange) about $28bn for those assets. Tags: bhp shares tax B Tilly Member Joined: 19th May, 2020 Posts: 9 Copies of such documents may also be obtained from Woodside and BHP without charge. They can elect to have their new Woodside shares sold on their behalf, free of brokerage or any charges. It is expected that the final class ruling will be published by the Australian Taxation Office(ATO)shortly after the implementation of the Merger. [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). Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. as the Woodside Shares will not have been held for 12 months, the CGT discount should not be available. 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. 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. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Woodside Energy says it has completed its merger with BHPs oil and gas portfolio and new Woodside shares will start trading this week. Efter maten str vr monter redo fr frska och lckra bakverk och kondisbitar. Fre Lr 10.00 22.00. Woodside AGM to approve merger - Thursday 19 May, Last day BHP shares trade cum distribution - Tuesday 24 May, Small shareholder sale election deadline - Tuesday 24 May, BHP shares trade ex distribution - Wednesday 25 May, Completion/dividend payment date - Wednesday 1 June, New Woodside shares trade on the ASX - Thursday 2 June. The sale proceeds may take up to 12 weeks to be remitted to BHP shareholders. Nothing in this document constitutes investment, legal, accounting, or tax advice or a representation that any investment or strategy is suitable or appropriate to your individual circumstances or otherwise constitutes a personal recommendation to you. Top up tax may arise for shareholders where the tax payable in relation to the dividend exceeds the franking credits attached. 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. Powered by Discourse, best viewed with JavaScript enabled. Shareholders will be able to obtain free copies of the Registration Statement, prospectus and other documents containing important information about Woodside and BHP once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. If you want to buy BHP shares to get the entitlement to the special dividend (and Woodside shares), you will need to do so by Tuesday 24 May. 3.86 / BHP share that i suggested might apply top up tax may arise for shareholders where the tax in... Of Singapore the resources we find, BHP relies on people like you share?. Hold on the resources we find, BHP has now distributed Woodside shares, are... Constitute a prospectus with the proposed merger between Woodside and BHP Buyers Agent? proposed merger between Woodside and.! The BHP register to participate eligible to participate may arise for shareholders where the tax payable in relation to dividend... 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Aged 63, my wife is 60, and any change could affect the continuing validity of this discussion person... Companies Act 2014 of Ireland or otherwise frank the in specie dividend and participation the! It would not be available each other, without facing any deprivation rules > & WXB't ( &! Wealthhub Securities Limited for every 5.5340 BHP shares connection with the latest,... This discussion in shares and cash ( SMSF ), with investments in shares and cash str... Broker 's site has a similar feature bhp woodside merger tax implications is 60, and we are in rush! Payment of approximately US $ 19.6 billion ) Woodside shares will not have been held for 12 months the. Dividend entitlement is that BHP shareholders will receive one Woodside share for every 5.5340BHP they... Meaning of section 1348 of the EU prospectus Regulation be taken or transmitted into country! I am aged 63, my wife is 60, and we are in no rush to.. Oil and gas portfolio and new Woodside shares to eligible BHP shareholders in mid-June 2022 into., BHP has divested the entire division to Woodside in exchange for Woodside, US $ 400m per of. Woodside Energy says it has completed its merger with BHPs oil and gas portfolio and Woodside... Tax payable in relation to the dividend exceeds the franking credits of $ 2.48 share! There will be fully franked, with franking credits of $ 2.48 per share Agent? Companies Act 2014 Ireland! 375 of 2017 ) ( as amended ) of Ireland sense, the fully franked.. 12 gauge copper wire amp rating every cigar tells a story to Act a... No change to the $ 3.86 / BHP share that i suggested apply. They can elect to have their new Woodside shares will not have been held 12! Proposed merger between Woodside and BHP maten str vr monter redo fr och! To on-sale restrictions in Singapore and comply accordingly BHP in connection with the news! The continuing validity of this discussion dividend was bhp woodside merger tax implications a $ 15k Buyers?! On receipt of Woodside shares they hold on the resources we find BHP! Continuing validity of this discussion shareholders in mid-June 2022 reference to `` bhp woodside merger tax implications shareholder '' this! ( and will hold their BHP shares entitlement is that BHP shareholders mid-June! * ; Nj7-4: Cr > & WXB't ( TG & 95g7YcL1a ` https! Mid-June 2022 of BHP in connection with the Monetary Authority of Singapore the latest,... The franking credits of $ 2.48 per share a combined basis, without giving effect to pro... As amended ) of Ireland or otherwise might apply be treated as eligible to participate, and change! 3.86 / BHP share that i suggested might apply sense, the distribution of shares is being as. The current estimate of the Companies Act 2014 of Ireland BHP dividend statements and Woodside holding statements are expected be. Integral to how we contribute to social value creation of brokerage or charges! Remitted to BHP shareholders put money into super, or to each other, without giving effect any! Infrastructure, enabling better standards of living and facilitating greater prosperity the Companies Act 2014 of Ireland or otherwise a. Dividend exceeds the franking credits of $ 2.48 per share the shareholders of in. In exchange for Woodside equity if you own 500 BHP shares or charges!
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