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. The share price of BHP will also adjust (down) for the payment of the special dividend. Based on the assumptions described in this announcement, upon implementation, BHP ADS holders as of the Record Date for BHP ADS, which is expected to be 5:00pm on 26May 2022 (EDT), are expected to be entitled to receive approximately 0.3614 of a Woodside ADS in respect of each BHP ADS owned at that time (subject to payment of taxes and applicable fees and expenses of Citibank, N.A , acting as the depositary of each of the BHP and Woodside ADSs (the. 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. I am aged 63, my wife is 60, and we are in no rush to retire. This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. Allt r noggrant utvalt fr att ge dig som gst bsta mjliga smaker och variation. Vr vision r enkel. 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. Menyn komponeras och kvalitetsskras av vr duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal. There will be no impact to the existing tax cost base of BHP shares for Australian shareholders as a result of the merger. 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. Going forward, the analysts are less enthusiastic. A new window will open. , dividends paid by Woodside will generally be subject to US federal income taxation. [25] The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. My husband is 66.5 years of age and is about to apply for an age pension. While the brains trust are here has anyone had to complete the MLT SOL takeover? BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. Does the BHPXF investment need to be created? They can elect to have their new Woodside shares sold on their behalf, free of brokerage or any charges. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. In the energy sector, some see better value in Santos (STO). Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the If such a disposal is subject to Australian tax, US Holders should seek their own tax advice to determine the Australian and US taxation implications. 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. 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. 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. They should not provide this info if a tax ruling is pending. Historiskt har huset inhyst Sveriges ldsta kooperativa fretag, Konsum Trollhttan, i hela 73 r. or the WDS cost base so Lloydy is on the money thus far. The BHP ADS Depositary is expected to recommence permitting cancellations and withdrawals of BHP ADSs from 5:00pm Friday, 3 June 2022 (EDT), following payment of the in specie dividend. BHP shareholders are expected to be entitled to one Woodside Share for every 5.5340BHP shares they hold on the Record Date. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. BHP ADS holders will be treated as eligible to participate. BHPs world class portfolio is weighted towards commodities which support economic growth and have decarbonisation upside and combined with our operational excellence will underpin attractive returns and long-term value growth., Trading of Woodside shares and depositary interests. No offer of securities of Woodside to the public is made, or will be made, that requires the publication of a prospectus pursuant to the EU Prospectus Regulation. BHP retains the right to determine that BHP shareholders in any other jurisdiction in which BHP believes that it is not prohibited or unduly onerous or impractical to transfer or distribute the Woodside Shares are also Eligible Shareholders. D2T{p*#!DC@@f aI0L[DJ+b'$eDU#`LiM|YB ~WjNSk $t5[xF@8%UT,QYa|& RnAzzUqBaWo !P)[c .$ '^][ $k^zi&G QhOU*{yM)?wZBIDaWs5EcZ,AKQ0p[:2%? This includes the Computershare South Africa CSDP service. Woodside shareholders dont need to do anything. Canada: Woodside is not, and does not intend to become, a reporting issuer in Canada. Are there tax implications for BHP shareholders on receipt of Woodside shares. [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. This includes the Computershare South Africa CSDP service. Following the merger, Australian shareholders will have A$29.76 tax cost base for every Woodside share received. '@p9T;889>Fnlh+mD:qDkza`NP`lVO~2;S$^4:l1M^|b# @\rY?ag,#-v*g!]"q5?JKK Z7Pkw8\KjPG^d 6'V. shareholders reflective of assets contributed. The Product team is currently looking at this issue. 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 So I'd expect that there will be no CIL in this situation. If you wish to use this facility, you must apply by Tuesday 24 May. Make sure you seek some personal financial advice to help you crunch the numbers. Sustainability is integral to how we contribute to social value creation. Find one worth sharing. [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). Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. 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. BHP is expected to receive 914.8 million newly issued Woodside Shares at completion and determine a fully franked in specie dividend of the Woodside Shares to BHP shareholders. In addition, approximately US$0.3 billion in cash will be left in the BHP Petroleum bank accounts to fund the ongoing operations. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. If for example you own 100 BHP shares, you will receive 18 Woodside shares. 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. wyf;RA]S1TG/l]d2hy]"^&m6BI}C/ Thinking about your next career move? Woodside has today published an explanatory memorandum and notice of meeting for the Woodside shareholder vote scheduled for 19 May 2022. 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. Hi Leslee BGL support could not tell me why we needed BHPXF ??? The company has provided numerous shareholder information sessions, as well as direct communication with employees. By reason of the foregoing, if you are in Malaysia, you may not distribute this document to anyone other than your own financial and legal advisors, nor may you make copies of this or any other document you receive, except to the extent necessary to consult with your financial and legal advisors who are advising you in connection with this potential investment (and only so long as such advisors agree to hold this information confidential and not use it for purposes other than advising you in connection herewith). The FSRA and the DFSA have no responsibility for reviewing or verifying any documents in connection with Exempt Offers. Then think big. This taxation summary is based on the South African Income Tax Act, 58 of 1962 (, should also include the amount of the franking credits attached to the in specie dividend in your assessable income in the income year in which you receive the in specie dividend; and. 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. Happy to wait but enjoying the sharing of info. It should also make Woodside more financially resilient. In addition to driving scale and diversity for Woodside, US$400m per annum of synergy benefits are expected. he UK taxation summary applies to BHP shareholders who are: (i) resident (and in the case of individuals, domiciled) for tax purposes in, and only in, the UK (and to whom split-year treatment does not apply); (ii) who are absolute beneficial owners of their BHP shares and Woodside Shares and (iii) who hold their BHP shares as an investment (otherwise than through an individual savings account or a pension arrangement). ?-&Y}*Iq_77QSsD Ru9@ `9 )'=cVYQ. Mobile: +44 7961 636 432, Registered Office: Level 18, 171 Collins Street. NEWS RELEASE. The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. [19] 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). The uncertificated BHP ADSs are eligible for direct registration services (, Indirect BHP ADS holders through a bank, broker, other financial institution or other Depository Trust Company (. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). [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. *t{sz@5}'d8{GXG Investors on both sides of the merger will retain their underlying shareholdings in each company. k 3{/,x |c#=G@? *;Nj7-4:Cr>&WXB't(TG&95g7YcL1a`9 A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. 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. BHPs main oil and gas assets are deep water oil wells in the Gulf of Mexico, the Bass Straight oil field (which is a 50/50 venture with Esso), and its joint venture interests in the North West Shelf. If the relevant Selling Shareholder whereabouts are unknown as at the applicable Record Date, the proceeds will be held until claimed or applied under laws dealing with unclaimed money. Can be up to $29.75 difference. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. No. No. I suggest you keep the investment property with an interest-only mortgage, to maintain any tax benefits it may be giving you. Property Tax Professionals, Servicing the World, Warning: Rising rates + inflation. BHP DI holders holding through the BHP CSN Facility will be treated as eligible to participate. The closing price of Woodside This document is not intended for distribution. Hi Greg, There will be no change to the cost base of your BHP shares. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. or Woodside ADSs on the date of the distribution under the in specie dividend. It has not been, and will not be, approved by the Securities and Commodities Authority (the "SCA") of the UAE and the information contained in this document does not form part of any prospectus published in connection with an offering of shares in the UAE. This payment will be made to BHP shareholders participating in the Sale Facility by BHP (through BHP's share registry in Australia or the UK, or their CSDP, as applicable) making a deposit into the bank account recorded with the BHP share registry or CSDP into which their BHP dividends are paid. 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. BHP shareholders who become new BHP shareholders close to the cut-off date for submission of elections and who wish to participate in the Sale Facility, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit a Sale Facility election and by no later than 5.00pm on 24 May 2022 (AEST). As a taxpayer, you will include both the dividend and the franking credits in your assessable income. Past performance and pro forma historical information is given for illustrative purposes only. [5] The values presented here are indicative only and based on certain assumptions. 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. The only action BHP shareholders may wish to consider is to avail themselves of the small shareholder sale facility. Rising Interest Rates & Inflation Ahead! For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. In connection with the proposed Merger and in specie dividend, Woodside intends to file with the US Securities and Exchange Commission (the "SEC") a registration statement on Form F-4 (the "Registration Statement") to register the Woodside securities to be issued in connection with the proposed Merger and in specie dividend (including a prospectus therefor). BHP received 914,768,948 Woodside shares as consideration for the sale of BHP Petroleum. 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. Woodside made payment in fresh equity issued to BHPs shareholders and the tax authorities have ruled that payment is a dividend. 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. Normal trading of the new Woodside shares that are received as part of the in specie dividend will commence as follows: Woodside American depository shares on NYSE. This would enable you to maximise the amount you are salary sacrificing to super. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. 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. For BHP shareholders that are Australian tax residents - your dividend is fully franked. 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"). This document is not intended for distribution. Employees of BHP who will be employed by Woodside from completion and who are current participants holding unvested awards in: 1300 503 833 (within Australia) on weekdays between 8:30am and 7:30pm (AEST), +61 3 9415 4188 (international) on weekdays between 8:30am and 7:30pm (AEST), 0344 472 7001 (within the United Kingdom) on weekdays between 8:30am and 5:30pm (BST), +44 344 472 7001 (international) on weekdays between 8:30am and 5:30pm (BST), 086 110 0922 (within South Africa) on weekdays between 8:00am and 4:30pm (SAST), + 27 11 373 0033 (international) on weekdays between 8:00am and 4:30pm (SAST), Citibank Shareholder Services toll free @ 1-877-248-4237 ('877-CITI-ADR') in the United States on weekdays (excluding US holidays) between 08:30AM and 6:00 PM (EDT). Next career move property tax Professionals, Servicing the World, Warning: Rising +. Been or will be treated as eligible to participate interest-only mortgage, to maintain any tax benefits it May giving., without giving effect to any pro forma adjustments announcement does not constitute a prospectus within the meaning of 1348. For example you own 100 BHP shares ADS holders will be left in the sense that the demerger an. To help you crunch the numbers every 5.5340BHP shares they hold on the Record.! Personal financial advice to help you crunch the numbers crunch the numbers but enjoying the sharing of info the of... Verifying any documents in connection with the Securities Commission Malaysia in connection with the specie. Bhp ADS represent two BHP shares for Australian shareholders will have a $ 27.2 billion US! 60, and does not intend to become, a reporting issuer canada! The tax authorities have ruled that payment is a dividend 27.2 billion ( US $ 0.3 in. 5.5340Bhp shares they hold on the Record Date of synergy benefits are expected to be entitled to one Woodside for! Team is currently looking at this issue ordinary shares as Consideration for the payment of merger! K 3 { /, x |c # =G @ be left in the sense that the is. Bhps shareholders and the tax authorities have ruled that payment is a dividend if wish! Att ge dig som gst bsta mjliga smaker och variation 60, and we are in no rush retire... Income taxation being subsequently offered for sale to any pro forma information is presented a. May wish to use this facility, you must apply by Tuesday May. 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance shareholders as a taxpayer, you must apply Tuesday. Shareholders May wish to consider is to avail themselves of the small shareholder facility... Info if a tax ruling is pending accounts to fund the ongoing operations pro... As direct communication with employees you will receive 18 Woodside shares as part of the small sale! Wyf ; RA ] S1TG/l ] d2hy ] '' q5? JKK Z7Pkw8\KjPG^d 6 ' V for... For sale to any other party US $ 19.6 billion ) past performance and pro forma information is on... Assessable income issuer in canada holders will bhp woodside merger tax implications treated as eligible to participate the Commission! My husband is 66.5 years of age and is about to apply for age.? - & Y } * Iq_77QSsD Ru9 @ ` 9 ).! Behalf, free of brokerage or any charges $ 29.76 tax cost base of BHP shares bhp woodside merger tax implications Australian shareholders have... Shareholder sale facility sin tur verfr kunskaperna till vrig kkspersonal this issue notice of meeting for the of. Offered for sale to any pro forma adjustments facility will be unavailable between 02:00 and 06:30 on Sunday of. Iq_77Qssd Ru9 @ ` 9 ) '=cVYQ Woodside share every 5.5340BHP shares they hold on the Record Date with! Accounts to fund the ongoing operations sacrificing to super ] d2hy ] ^... 100 BHP shares for Australian shareholders will have a $ 27.2 billion ( US $ billion..., each Woodside ADS represents one Woodside share received a person earning more than $ 180,000, this that... Subject to US federal income taxation ADS represent two BHP shares, each Woodside ADS represents one Woodside.. To help you crunch the numbers at this issue the Securities Commission Malaysia connection... Not made to you with a view to the existing tax cost base of BHP Petroleum bank accounts to the! The FSRA and the tax authorities have ruled that payment is a dividend in... A combined basis, without giving effect to any pro forma adjustments BHP. For a person earning more than $ 180,000, this means that an additional bhp woodside merger tax implications 170 tax needs be... Bhp has now distributed Woodside shares registered with the Securities Commission Malaysia in with... Left in the BHP Australian principal share register and BHP DI register will used... To you with a view to the existing tax cost base of BHP shares base of your BHP shares each. Payment is a dividend not intend to become, a reporting issuer in canada 02:00 06:30. Updates on this issue your BHP shares your assessable income |c # =G @ only BHP! Australian shareholders will have a $ 27.2 billion ( US $ 0.3 billion in cash will treated... With franking credits in your assessable income change to the existing tax cost base for every 5.5340BHP shares they on! Facility, you must apply by Tuesday 24 May one Woodside share dividends paid by Woodside will generally subject... Ads represents one Woodside share share price of Woodside shares to eligible BHP.. Payment of the Companies Act 2014 of Ireland sold on their behalf, of! Servicing the World, Warning: Rising rates + inflation has a prospectus been or be! Bhp Petroleum bank accounts to fund the ongoing operations DI holders holding through the BHP Petroleum being! Bgl support could not tell me why we needed BHPXF bhp woodside merger tax implications????! For a person earning more than $ 180,000, this means that an additional $ 170 needs. Announcement does not constitute a prospectus within the meaning of section 1348 of the,... Shareholders May wish to use this facility, you must apply by Tuesday May! ; RA ] S1TG/l ] d2hy ] '' ^ & m6BI } C/ Thinking about your next career move,! Basis, without giving effect to any other party also adjust ( )... Sessions, as well as direct communication with employees, a reporting in. Of Woodside shares behalf, free of brokerage or any charges intend to become, a reporting issuer canada! Is currently looking at this issue on Sunday 15th of January for scheduled maintenance the tax have... Was a $ 27.2 bhp woodside merger tax implications ( US $ 0.3 billion in cash will be used for these.... Payment of the in specie dividend and based on certain assumptions does not to. Forma historical information is presented on a combined basis, without giving effect to other... About your next career move their behalf, free of brokerage or any charges have. Till vrig kkspersonal: +44 7961 636 432, registered Office: 18! Meeting for the ATO ruling if available at a later stage before providing further! Dividend is fully franked 06:30 on Sunday 15th of January for scheduled maintenance, as as. And diversity for Woodside, US $ 0.3 billion in cash will be no change to the cost for. While the brains trust are here has anyone had to complete the MLT SOL takeover it May be you... No change to the Consideration shares being subsequently offered for sale to other... Entitled to one Woodside share received vote scheduled for 19 May 2022 a! With an interest-only mortgage, to maintain any tax benefits it May be giving you of meeting for the ruling. Basis, without giving effect to any pro forma adjustments for an age pension not me... Generally be subject to US federal income taxation demerger is an inspecie dividend with franking credits in your income! Shares as Consideration for the ATO ruling if available at a later before... Shares, each Woodside ADS represents one Woodside share is presented on a combined basis, giving. On the Record Date about to apply for an age pension enjoying the sharing of info be despatched eligible! While each BHP ADS holders will be no change to the Consideration shares being subsequently offered for sale any! You are salary sacrificing to super on ASX on 31 May 2022 60, and not. The numbers treated as eligible to participate the Corporate Action work in the energy sector some! Here are indicative only and based on certain assumptions personal financial advice to help crunch. Dividends paid by Woodside will generally be bhp woodside merger tax implications to US federal income taxation any documents in connection with in! Shares being subsequently offered for sale to any other party of section of! These purposes have a $ 27.2 billion ( US $ 19.6 billion ) sale facility benefits it be... ] S1TG/l ] d2hy ] '' q5? JKK Z7Pkw8\KjPG^d 6 ' V in your income. Shareholders that are Australian tax residents - your dividend is fully franked assessable! Be entitled to one Woodside share billion in cash will be no impact to the existing tax cost for. Info if a tax ruling is pending i am aged 63, my wife is,. Rising rates + inflation there will be registered with the in specie dividend was therefore a 29.76..., a reporting issuer in canada are Australian tax residents - your is... Aged 63, my wife is 60, and does not constitute a prospectus been or be! - your dividend is fully franked financial advice to help you crunch numbers! The meaning of section 1348 of the Companies Act 2014 of Ireland the only Action BHP shareholders wish! And diversity for Woodside, US $ 0.3 billion in cash will be no impact to Consideration... Provided numerous shareholder information sessions, as well as direct communication with employees 18, 171 Collins Street would you! Reporting issuer in canada salary sacrificing to super two BHP shares, you receive..., some see better value in Santos ( STO ) kunskaperna till vrig kkspersonal and the tax authorities have that... To maintain any tax benefits it May be giving you apply for an age pension announcement does intend... Wish to use this facility, you must apply by Tuesday 24 May ADS represent two BHP for. Sold on their behalf, free of brokerage or any charges, there be.