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. Woodside shareholders dont need to do anything. I'm joined by Morningstar's Mat Hodge and Mark Taylor to discuss. It looks like the CA would not give me (us) the answer. 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. OJW Ex>O1HN$v#b a"0 bXk *(\*4)ZMD8nGRT6BD6Rtx:- b87!ZN@$7xOfD"`Q &n a` BU9g#@o*s0T|. 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. No. 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. 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. What is the Cost per old share and the cost per new share? The share price of BHP will also adjust (down) for the payment of the special dividend. At this valuation, which is subject to change, the in specie 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). WealthHub Securities Ltd. is not a registered tax agent. Did your value come anywhere close to the $3.86 / BHP share that I suggested might apply? Ireland: This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. Stay in touch with the latest news, stories and insights from BHP. Pro forma equity ownership of . The class rulingapplication is principally concerned with (i) confirming that demerger tax rollover relief will not be available in respect of the in specie dividend (ii) confirming the Australian income tax consequences of receiving the in specie dividend; and (iii) participating in the Sale Facility. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. I received 11 shares of WDS and I had a little over 30 shares of BHP. TIDMBHP. .BHP has applied to the Commissioner of Taxation (Commissioner) for a class ruling confirming certain income tax implications of the implementation of the Merger for certain Eligible Shareholders. Woodside will retain its primary listing on the ASX and is seeking a standard listing on the LSE and a sponsored Level III ADR program on the NYSE from completion of the Merger. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. United Arab Emirates (UAE): This document is not a prospectus and not an offer of securities for sale or subscription in the UAE. '@p9T;889>Fnlh+mD:qDkza`NP`lVO~2;S$^4:l1M^|b# @\rY?ag,#-v*g!]"q5?JKK Z7Pkw8\KjPG^d 6'V. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. 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. BHP DI holders holding through the BHP CSN Facility will be treated as eligible to participate. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd The broker market analysts are positive on the merger, and this has been one of the reasons why Woodsides share price has risen strongly since it was announced .While the share price rise has been mainly driven by a higher oil price, the merger improves Woodsides asset base and has the potential to improve cash flow and deliver operating synergies. This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. and. 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. Furthermore, this summary does not address all US federal income tax considerations that may be relevant to certain categories of US Holders that may be subject to special treatment under the US federal income tax laws, will not be treated as a Passive Foreign Investment Company (, the determination of whether a foreign corporation is a PFIC is primarily factual and there is little administrative or judicial authority on which to rely to make such a determination, the United States Internal Revenue Service (. (I have sought a Support answer but this approach (Community) might be a quicker response.) BHP Group (BHP) and Woodside Petroleum Ltd (Woodside) entered into a share sale agreement (SSA) for the merger of BHPs oil and gas portfolio with Woodside by an all-stock merger (Merger) on 22 November 2021. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. Lets unpack that. 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. My husband is 66.5 years of age and is about to apply for an age pension. 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). [2] 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). or the WDS cost base so Lloydy is on the money thus far. My support call has been escalated to the Product Team. WebBHP Group (BHP) and Woodside Energy Group Ltd (WDS) Merger - May 2022 BHP Group (BHP) and Woodside Energy Group Ltd Ltd (WDS) (formerly known as Woodside Petroleum Ltd (WPL)), entered into a share sale agreement for the merger of BHPs oil and gas portfolio with Woodside by an all-stock merger on 22 November 2021. [13] CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. 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. 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. 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. Rising Interest Rates & Inflation Ahead! [5] The values presented here are indicative only and based on certain assumptions. NAB Defence, your protection against fraud. Terms and conditions relating to the use and distribution of this information may apply. [7] 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. By Damon Evans 17/08/2021, 8:45 am Updated: 17/08/2021, 9:46 am This Sale Facility is described in further detail below. 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). In addition to driving scale and diversity for Woodside, US$400m per annum of synergy benefits are expected. Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. 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"). --------------------------------------------------. 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. 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. [3] A CSN Facility is the corporate sponsored nominee facility arranged by the relevant company with Computershare Investor Services PLC to hold DIs in the company for and on behalf of participants in, and on terms and conditions that govern, the facility. Rather than keep the Woodside shares, BHP has decided to distribute them to its shareholders. Powered by Discourse, best viewed with JavaScript enabled. The franking credits can then be used as a tax offset. Copies of such documents may also be obtained from Woodside and BHP without charge. 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. 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. 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. Key points include: Merger ratio on completion at 1 June 2022, the merged business will be owned approximately 52 per cent by existing Woodside shareholders and 48 per cent by BHP shareholders. [12] This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. 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. Step 2: Enter transaction details Enter Date as of 01/06/2022 Find one worth sharing. He shares his three tips on finding FIFO happiness. It is not intended to be a substitute for specialised taxation advice or an assessment of an individuals liabilities, obligations or claim entitlements that arises, or could arise, under taxation law, and we recommend that you consult a registered tax agent. BHP Group (BHP) is pleased to announce that the merger of BHPs oil and gas portfolio with Woodside Energy Group Limited (Woodside) by an all-stock merger (Merger) has completed today. It is core to our strategy and sits at the heart of everything we do. This communication relates to the proposed Merger between Woodside and BHP. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. What happens to BHP employees who currently participate in equity incentive plans? 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. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. [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. info@strandgatan.com, Sn Tors 10.00 22.00 BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. Woodside Energy says it has completed its merger with BHPs oil and gas portfolio and new Woodside shares will start trading this week. 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). 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. Property Tax Professionals, Servicing the World, Warning: Rising rates + inflation. 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. We succeed through the partnerships we build with our suppliers. As part of completion, BHP has made a net cash payment of approximately US$0.7 billion to Woodside. 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. 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. Many BHP shareholders could be in for a shock at tax time. you hold a "non-portfolio interest" in Woodside. Hi Leslee BGL support could not tell me why we needed BHPXF ??? Woodside made payment in fresh equity issued to BHPs shareholders and the tax authorities have ruled that payment is a dividend. Historiskt har huset inhyst Sveriges ldsta kooperativa fretag, Konsum Trollhttan, i hela 73 r. , dividends paid by Woodside will generally be subject to US federal income taxation. wyf;RA]S1TG/l]d2hy]"^&m6BI}C/ I have not received a dividend statement from BHPs share registry (Computershare) not can I find anything on Computershares web site. Warning! Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. Ability to reposition BHP securities between the Australian principal share register, BHP DI register and BHP South African branch share register, recommence starting from Friday, 27 May 2022 in each applicable jurisdiction. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Following the merger, Australian shareholders will have A$29.76 tax cost base for every Woodside share received. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. Quote BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. (Interesting reaction to the BHPXF query.) Wrote my last post before seeing Erics response. Update on BHP Petroleum and Woodside merger and share distribution information. 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. Then think big. 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. Can I transfer some of that money into my superannuation account, using the three-year catch-up rule, and claim a tax deduction to bring our total assets under $901,500? BHP Group (BHP) and Woodside Petroleum Ltd (Woodside) entered into a share sale agreement (SSA) for the merger of BHPs oil and gas portfolio with Woodside by an all-stock The Woodside Shares forming the entitlement of BHP DI holders who are eligible to receive the Woodside Shares under the in specie dividend will be transferred to Computershare Clearing Pty Limited (or another custodian appointed by the depositary) as custodian for Computershare Investor Services PLC (acting as depositary), who will in turn issue dematerialised Woodside DIs representing the underlying Woodside Shares. Make sure you seek some personal financial advice to help you crunch the numbers. This information is provided by RNS, the news service of the London Stock Exchange. We do this through our strategy to deliver long-term value and returns through the cycle. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. 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