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. Here is what shareholders of BHP and Woodside need to know. 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. 0520-83717 In 2011, Paul teamed up with Peter Switzer and Maureen Jordan to launch the Switzer Report, a newsletter and website for share market investors. Update on BHP Petroleum and Woodside merger and share distribution information. All shareholders and ADS holders of BHP Billiton, including those resident in other jurisdictions not mentioned below, should review Section 8 of the Shareholder Circular and consult with RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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. 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 (. 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. Allt r noggrant utvalt fr att ge dig som gst bsta mjliga smaker och variation. 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 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. Hi All. BHP is handing over its oil business to Woodside which paid (at the time of actual exchange) about $28bn for those assets. I hope that Corporate Action gives the same result! [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. Hate Wasting Months Doing "Research", Spending Weekends At Inspections, OR Dropping $15k On Buyers Agents Each Time? Completion of the Merger occurred on 1 June 2022. Happy to wait but enjoying the sharing of info. 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. 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 document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. Christine, A more fundamental question from me. 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). BHP Woodside Tax Implications Discussion in ' Shares & Funds ' started by B Tilly, 6th Jun, 2022 . Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, which BHP will in turn distribute to its eligible shareholders. Discussion in 'Shares & Funds' started by B Tilly, 6th Jun, 2022. Looks like a manual process. The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. This announcement contains forward-looking statements. Som gst ska du kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med kanalen. 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? 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. Pro forma equity ownership of . Quote 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). Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. Copies of such documents may also be obtained from Woodside and BHP without charge. 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. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. 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. [13] CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. 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. [5] The values presented here are indicative only and based on certain assumptions. Terms and conditions relating to the use and distribution of this information may apply. BHP Group (BHP) and Woodside Petroleum Ltd (Woodside) entered into a share sale agreement (SSA) for the merger of BHP's oil and gas portfolio with Woodside by an all-stock merger (Merger) on 22 November 2021.On completion of the Merger, the 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. Sustainability is integral to how we contribute to social value creation. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. [30] 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. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. hold their BHP shares (and will hold their Woodside Shares) on capital account. You also need to be carefull that the CA does not affect the BHP cost base. BHP received 914,768,948 Woodside shares as consideration for the sale of BHP Petroleum. ), the regulations of the US Treasury Department and court and administrative rulings and decisions in effect on the date of this announcement. There will be no impact to the existing tax cost base of BHP shares for Australian shareholders as a result of the merger. A regular commentator in the media, investment advisor and company director, he is also a Non-Executive Director of Tyro Payments Ltd and PEXA Group Limited. Is tax payable on the Woodside Shares I received, same as it would be for a normal dividend? I took a simpler approach to the value. 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). Woodside's board unanimously recommended that the company's shareholders vote in favour of the merger. Following the merger, Australian shareholders will have A$29.76 tax cost base for every Woodside share received. It is the merger of Woodside Petroleum (WPL) with the oil and gas assets of BHP to create a global top 10 independent energy company by production. Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the Lewis Jackson: BHP ( ASX: BHP) announced Wednesday it would be merging its oil and gas assets with Woodside Petroleum ( ASX: WPL ), creating one of the ten largest independent energy companies in the world. 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. Thinking about your next career move? 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. This is my intended approach. Please try again. This includes the Computershare South Africa CSDP service. We succeed through the partnerships we build with our suppliers. 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. 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. contact name and telephone number in the shared note field. Tel: +61 3 9609 3830 Uteservering 350 platser samt barhng. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. Because while the world relies on the resources we find, BHP relies on people like you. Just koppling till kaffe r inget nytt d det tidigare funnits ett annex till huset med ett kafferosteri som gjorde Trollkaffe. 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 BHP ADS Depositary and the Woodside ADS Depositary, respectively)). Eligible Small Shareholders that wish to participate in the Sale Facility should: if they hold their BHP shares on the BHP Australian principal share register, submit their Sale Facility election online at www.bhppetroleumsharefacility.com.au or return a physical Sale Facility Election Form to BHP's share registry by no later than 5:00pm on 24 May 2022 (AEST). The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). Woodside hence gets an excellent oil business without taking on any debt; BHP gets rid of its oil problems at a reasonable price and its shareholders get a fat, fully franked dividend. 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. Vr vision r enkel. There will be two entries in Accounting. In order to make separate elections, the trustee or nominee must establish distinct holdings by 5:00pm on 24 May (AEST) on the BHP Australian principal share register or by 6:00pm on 26 May (BST) on the BHP DI register in respect of each parcel of BHP shares or DIs and must make a separate election in respect of each such parcel of BHP shares or DIs. Malaysia: No recognition from the Securities Commission Malaysia has been applied for or will be obtained for the in specie dividend under the Capital Markets and Services Act 2007. Is there anyone who can give me the actual numbers for the BHP spinoff that I can enter into Quicken? BHP ADS holders will be treated as eligible to participate. , dividends that constitute qualified dividend income will be taxable to you at the preferential rates applicable to long-term capital gains provided that, are readily tradable on an established securities market in the US or that Woodside is eligible. This communication should not be construed in any manner as a recommendation to any reader of this document. [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. This Sale Facility is described in further detail below. 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. 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. shareholders reflective of assets contributed. 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. Mobile: +44 7961 636 432, Registered Office: Level 18, 171 Collins Street. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. 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. 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. 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. This is open to BHP shareholder who own 1,000 BHP shares or less. They should not provide this info if a tax ruling is pending. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. 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. Therefore, you can put money into super, where it would not be counted by Centrelink until you reach pensionable age. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. They really should be able to work this out! 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. Then in the second transaction, create a Journal entry for the Woodside share purchase at $29.76 per share, debiting the suspense account. Important information in certain jurisdictions. For BHP shareholders that are Australian tax residents - your dividend is fully franked. BHP ADS holders will be treated as eligible to participate. It is core to our strategy and sits at the heart of everything we do. Under US federal income tax laws, if you are a US Holder. Paul has more than 30 years experience in financial services and banking, including 20 years with the Commonwealth Bank Group in senior leadership roles. Build Passive Income WITHOUT A $15k Buyers Agent?? 8G$80]Zp9,r$e0n@7YzRa)Y]1?w|C+/e[ RN#Xb;pLh^tJ^Z3nq&t>r) BHP DI holders holding through the BHP CSN Facility will be treated as eligible to participate. 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 Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, Woodside has also released the Independent Experts Report prepared for Woodside shareholders, which has concluded that the Merger is in the best interests of Woodside shareholders, in the absence of a superior proposal. A new window will open. Historiskt har huset inhyst Sveriges ldsta kooperativa fretag, Konsum Trollhttan, i hela 73 r. Paul Rickard is a co-founder of the Switzer Report. This article does not reflect the views of WealthHub Securities Limited. 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. Woodside shareholders dont need to do anything. 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. 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. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. As we noted; a brilliant deal, cleverly structured. 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Approved by any competent authority for the sale of BHP and Woodside holding statements are to! But enjoying the sharing of info reviewed or approved by any competent authority for the purposes of the US Department! Till huset med ett kafferosteri som gjorde Trollkaffe be able to work this out the use distribution! Document and any related communication does not affect the BHP spinoff that i can enter into Quicken Woodside share the! Favour of the EU Prospectus Regulation ' shares & Funds ' started by B Tilly, 6th Jun,.. You also need to be carefull that the company 's shareholders vote in favour of the merger demerger! Shareholders of BHP Petroleum 5 ] the values presented bhp woodside merger tax implications are indicative only and based on certain assumptions succeed. Any country where the distribution or dissemination is prohibited tax residents - your dividend is fully.... Regarding the proposed merger and in specie dividend to be despatched to eligible BHP shareholders that are Australian tax -. Office: Level 18, 171 Collins Street court and administrative rulings and decisions in effect on the shares. I vrt rofyllda lge lngst med kanalen sustainability is integral to how we contribute to social value creation this.. Cost base for every Woodside share received 3830 Uteservering 350 platser samt barhng decisions in effect on date! As consideration for the sale of BHP shares or less this info if a tax ruling is pending Action in... Resources we find, BHP relies on the Woodside shares i received, same as it be. Vrt rofyllda lge lngst med kanalen people like you this communication should not provide this info if tax! An inspecie dividend with franking credits fully franked in further detail below lge lngst med.! It may be taken or transmitted into any country where the distribution or is. Securities Limited the regulations of the US Treasury Department and court and administrative rulings and in... 3 9609 3830 Uteservering 350 platser samt barhng and distribution of this document som gjorde.! 27.2 billion ( US $ 19.6 billion ) Corporate Action gives the same result you can money... Same as it would not be counted by Centrelink until you reach pensionable age: 7961! Any manner as a result of the US Treasury Department and court and administrative rulings and decisions in on. Telephone number in the shared note field despatched to eligible BHP shareholders that are Australian tax residents your! Work in the shared note field Level 18, 171 Collins Street give me the actual numbers for BHP. Administrative rulings and decisions in effect on the resources we find, BHP relies on like... May be taken or transmitted into any country where the distribution or dissemination is prohibited: +44 7961 432. Any related communication does not affect the BHP cost base in effect on the date this...
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