bhp woodside merger tax implicationspros and cons of afis

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. Vill du ge oss synpunkter eller frbttringsfrslag r du alltid vlkommen att kontakta oss antingen p plats eller via e-post. 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. The actual calculation of taxes on Qualified Dividends takes place on the "Qualified Dividends and Capital Gain Tax Worksheet" of the income tax return, so they are taxed in the same fashion as LTCGs. 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 [8] 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. 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. Thanks, Lloydy, you make a lot of sense.Will try your approach. Looks like a manual process. [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). 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 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. 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. Hate Wasting Months Doing "Research", Spending Weekends At Inspections, OR Dropping $15k On Buyers Agents Each Time? This document does not constitute investment advice or the provision of investment services within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Are there tax implications for BHP shareholders on receipt of Woodside shares. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. Doesnt look like BHPXF needs to be created. [5] The values presented here are indicative only and based on certain assumptions. We Help People Build Wealth Through Property Investing Using Our System To Buy Top 5% Growth & Positive Cashflow Property Remotely! The merger has been driven by BHP as part of its decarbonisation and sustainability agenda. (If it kept them, it wouldnt achieve its decarbonisation and sustainability objectives). No. As we noted; a brilliant deal, cleverly structured. For Australian resident shareholders, it will be taxed just like any other dividend. Property is our speciality incl Trusts, Co and SMSF. 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. 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. On a per share basis, it will be equal to the Woodside share price, divided by the merger ratio of 5.534. The in-specie dividend treatment of the merger of BHPs petroleum assets with Woodside The in specie dividend, that might be regarded as a financial securities offer under the laws of Spain, does not give rise to a prospectus submitted for the approval of the Comisin Nacional del Mercado de Valores. 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. 8G$80]Zp9,r$e0n@7YzRa)Y]1?w|C+/e[ RN#Xb;pLh^tJ^Z3nq&t>r) [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. Join Australia's most dynamic and respected property investment community. Release Time IMMEDIATE Date 8 April 2022 Release Number 11/22 Does this mean that my cost base of WDS shares has to be slightly more than $29.76 to have Lloydys transactions balance? Many BHP shareholders could be in for a shock at tax time. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. 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. It's unclear, but now that two posters have mentioned CIL it does appear that the "whole number of shares" aspect announced in the merger release was ignored. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. Lets unpack that. Has anyone else received the statement? Choose your network to share this page with. This may vary depending on the BHP register as at the Record Date and could also be lower where South African BHP shareholders validly elect to receive the Woodside Shares to which they are entitled. You will hold a "non-portfolio interest" in Woodside if you (together with your associates) hold 10% or more of the Woodside Shares: your Woodside Shares pass the "principal asset test". Are there tax implications for BHP shareholders on receipt of Woodside shares? 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. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. This is long term, so the tax rate is the same as a dividend. q>r/F"`:0~ 8O n>F=Ae6PkQ_C>qt8%" QH,-kU=,l.6Imqo8 sRh>%JetD?o;az5-0xA To participate in the Sale Facility, Eligible Small Shareholders must make a valid election. No. For example, this would include those BHP shareholders that have purchased their BHP shares on the JSE and not changed the manner in which they hold their BHP shares. Our purpose is to bring people and resources together to build a better world. This Sale Facility is described in further detail below. If your tax rate is higher than 30%, you will have to pay some tax, but at an effectively reduced rate. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. 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. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. Terms and conditions relating to the use and distribution of this information may apply. Canada: Woodside is not, and does not intend to become, a reporting issuer in Canada. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd The share price of BHP will also adjust (down) for the payment of the special dividend. The South32 shares have since begun trading independently from BHP Billiton shares. Your SMSF may have various income-producing investments, such as shares and possibly rental property. No offer of securities in the United States shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. Update on BHP Petroleum and Woodside merger and share distribution information. Uteservering 350 platser samt barhng. Copies of such documents may also be obtained from Woodside and BHP without charge. The words 'anticipate', 'believe', 'aim', 'estimate', 'expect', 'intend', 'may', 'target', 'plan', 'forecast', 'project', 'schedule', 'will', 'should', 'seek' and other similar words or expressions are intended to identify forward-looking statements. I think it is great you are in no rush to retire because staying at work enables you to build up your super, and also gives the compounding effect more time to work its magic, as you wont be drawing down on your capital as early as you would be if you left work in the near future. Woodside will make a cash payment to BHP of approximately US$830 million in relation to cash dividends paid by Woodside between the Merger effective date of 1 July 2021 and completion. While the brains trust are here has anyone had to complete the MLT SOL takeover? 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"). imT:}dZZU}_wAC /@V^u1H]{nNaom3n3Uq< Kz8>MS`O-d%]J$9E!m^|YZI89 Because the distribution is being implemented via the payment of a dividend, the capital implications are minimal. Inneservering 75 platser Our shareholders will now have exposure to assets in two organisations, BHP and Woodside, each with a very clear focus, strategy and value proposition. This relates to the Ruby project and reflects revisions to estimated reserves resulting from technical analysis of well drilling results and performance following project completion in December 2021. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. 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. Vi strvar stndigt mot att bli bttre. Pro forma equity ownership of . We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. 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). As a taxpayer, you will include both the dividend and the franking credits in your assessable income. Quote What happens to BHP employees who currently participate in equity incentive plans? United Arab Emirates (UAE): This document is not a prospectus and not an offer of securities for sale or subscription in the UAE. --------------------------------------------------. If you wish to use this facility, you must apply by Tuesday 24 May. Wrote my last post before seeing Erics response. 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 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). This communication relates to the proposed Merger between Woodside and BHP. Combined market 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. We succeed through the partnerships we build with our suppliers. Our advisers are qualified and experienced and we don't outsource. [12] This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. 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. BHP Group Limited. you hold a "non-portfolio interest" in Woodside. Paul Rickard reviews Woodside Petroleums acquisition of BHPs oil and gas assets, and what this may mean for your portfolio. Discussion in 'Shares & Funds' started by B Tilly, 6th Jun, 2022. A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. These laws may change, possibly retroactively, and any change could affect the continuing validity of this discussion. The acquisition date will be 1 June. [16] Further details regarding Woodside's proposed CSN Facility can be found in Part 19 of the Woodside UK Prospectus. There will be two entries in Accounting. Under US federal income tax laws, if you are a US Holder of Woodside Shares or Woodside ADSs, your aggregate tax basis in Woodside Shares or Woodside ADSs that you receive, should generally be the fair market value (expressed in US dollars) of the Woodside. 375 of 2017) (as amended) of Ireland or otherwise. BHP DI holders who hold one or more parcels of BHP DIs as trustee or nominee for, or otherwise on account of, another person, may make separate elections in accordance with the election process in respect of each of those parcels. Euroclear does not make available special procedures in CREST for any particular corporate action. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. Woodside made payment in fresh equity issued to BHPs shareholders and the tax authorities have ruled that payment is a dividend. Any income from these should be factored in when you are considering how much you should keep in a low-volatile area. Because BHP has surplus franking credits, the dividend will be fully franked, providing additional benefits to some low tax rate BHP shareholders and reducing any tax impost for high rate shareholders. 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. 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. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Unlike Woodside shareholders, BHP shareholders arent being asked to approve the merger. 48% BHP . 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 (. 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. 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. As part of completion, BHP has made a net cash payment of approximately US$0.7 billion to Woodside. Choose your network to share this page with. This material is intended to provide general advice only. Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. BHP Shareholders on the Australian principal share register with a registered address in New Zealand and who do not have any payment instructions recorded on their shareholding, will also have their sale proceeds paid into a separate bank account until valid New Zealand payment instructions have been provided to the BHP share registry. We do this through our strategy to deliver long-term value and returns through the cycle. Important information: Any advice and information in this publication is of a general nature only. f3h;xt[N*OJisO~*9gr_z~/\I!MZPE|qB BHP ADS holders will be treated as eligible to participate. Summary of the merger. Warning! We do this through our strategy to deliver long-term value and returns through the cycle. They really should be able to work this out! 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. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. If you originally purchased your BHP shares (for say) $30.00, then after the merger, your cost base is still $30.00. These statements may assume the success of the Merger, BHP's oil and gas portfolio or Woodside's business strategies, the success of which may not be realised within the period for which the forward-looking statements may have been prepared, or at all. All of these assets will be transferred to Woodside. BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. There will be no change to the cost base of your BHP shares. Thinking about your next career move? Build Passive Income WITHOUT A $15k Buyers Agent?? I also received $6.62 in lieu of fractional shares that I need to enter. 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. The values presented here are indicative only and based on certain assumptions. 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. ?-&Y}*Iq_77QSsD Ru9@ `9 )'=cVYQ. 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. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Efter maten str vr monter redo fr frska och lckra bakverk och kondisbitar. BHP intends to fully frank the in specie dividend. If for example you own 100 BHP shares, you will receive 18 Woodside shares. This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. Going forward, the analysts are less enthusiastic. This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. 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. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. I am aged 63, my wife is 60, and we are in no rush to retire. The current CA process may not be able to do all the above. 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. 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. Find one worth sharing. 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. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. Woodside has today published an explanatory memorandum and notice of meeting for the Woodside shareholder vote scheduled for 19 May 2022. What happens to South African resident BHP shareholders? He shares his three tips on finding FIFO happiness. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. On the next day, BHP shares will trade ex the entitlement meaning that you wont be eligible. The in specie dividend is scheduled to be paid on 1 June 2022 and will be fully franked. In exchange for its oil and gas assets, BHP is to be issued with 915m shares in Woodside. Surely, the earlier they know about it the better they can be prepared to find the additional tax. BHP shareholders will be entitled to a whole number of Woodside Shares, with any entitlement to a fraction of a Woodside Share that would have otherwise arisen being rounded down to the nearest whole number. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. The remainder of this discussion assumes that BHP will not be treated as a PFIC in the taxable year of the in specie dividend or any prior taxable year. Idag finns Arbetarfreningen p vre plan medan Caf Strandgatan har hela nedre plan samt uteserveringen under sommarmnaderna. Hi All. *D7{ 8";eGm9wQ&HMTi;#7a[[hW~kO]q`(EFH?Ts`(OF"'61 ekQB* Eau;k7pj,pq.Y@s6;9b}9m}lz]=w(t=+[? Step 1: Go to Transaction List and select Journal to record the Woodside shares and the In-Specie Dividends. [21] If a BHP shareholder wishes to withdraw an election they have made to participate in the Sale Facility, they must contact the Shareholder Information Line (see below) by no later than the cut-off date for submission of their election described above. Find out more with a free planning session. The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. 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. 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. A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. TIDMBHP. So it sounds to me like you record a cash dividend based on the FMV of the stock received, then turn around and immediately buy the same number of share received at that same FMV to eliminate the cash. [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). and. The company elaborated that its net profit after tax for the first half of 2022 will incorporate the contribution of the BHPs portfolio from completion and the accounting treatment of this portfolio will align with Woodsides policies. Which small BHP shareholders can participate in the Sale Facility? We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. 08 April 2022. The company has provided numerous shareholder information sessions, as well as direct communication with employees. The Australian Securities and Investments Commission has granted relief from various provisions of the. Menyn komponeras och kvalitetsskras av vr duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal. This is open to BHP shareholder who own 1,000 BHP shares or less. 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. The current estimate of the dividend entitlement is that BHP shareholders will receive one Woodside Share for every 5.5340 BHP shares. Singapore: This document has not been registered as a prospectus with the Monetary Authority of Singapore. Know the non-concessional contributions cap? OJW Ex>O1HN$v#b a"0 bXk *(\*4)ZMD8nGRT6BD6Rtx:- b87!ZN@$7xOfD"`Q &n a` BU9g#@o*s0T|. We do this through our strategy to deliver long-term value and returns through the cycle. You may recognise a capital gain or loss for US federal income tax purposes equal to the difference between the US dollar value of the amount that you realise and your tax basis, determined in US dollars in respect of the disposal of your Woodside Shares or Woodside ADSs. On May 19th, 2022, Woodside (WDS:ASX) announced that it had approved to be acquired by BHP Group Ltd (BHP:ASX) effective by June 1st, 2022. Sustainability is integral to how we contribute to social value creation. 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. [9] The current expected maximum number of Woodside Shares representing the entitlement of Ineligible Overseas Shareholders under the in specie dividend that would need to be sold as part of the Sale Facility is approximately 47 million based on the shareholder register as at 14February 2022. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. Noel Whittaker is the author of Retirement Made Simple and numerous other books on personal finance. You should therefore ensure all necessary actions are taken by you (or by your CREST sponsor) to ensure a TTE instruction relating to the sale of the Dividend Entitlement settles prior to 1:00pm (BST) on 31 May 2022. Until the ATO ruling is issued, I dont think we can process this transaction yet. 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. 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 shareholders are expected to be entitled to one Woodside Share for every 5.5340 BHP shares they hold on the Record Date. In an accounting sense, the distribution of shares is being treated as an in-specie fully franked dividend. 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. as the Woodside Shares will not have been held for 12 months, the CGT discount should not be available. 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. This document has not been registered as a prospectus with the Monetary Authority of Singapore. A share sale facility will be in place for eligible small BHP shareholders who elect to participate, and for shareholders who are ineligible to receive Woodside Shares. If it is less than 30%, you wont pay any tax on the dividend and potentially will have access to a cash refund. 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. Would this be regarded as a deprived asset? Woodside has also released the Independent Expert's 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. 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. In this regard, you are referred in particular to those sections of the CREST Manual concerning practical limitations of the CREST system and timings. 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. 286 531). Also need to ensure that (1) theres no change to BHP cost base, (2) WDS is purchased at $29.76/share. This information is provided by RNS, the news service of the London Stock Exchange. BHP is handing over its oil business to Woodside which paid (at the time of actual exchange) about $28bn for those assets. This would have a $300 imputation credit, bringing up the gross dividend to $1000. .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. Thanks. 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. 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). Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. The following does not purport to be a complete analysis of all potential tax effects resulting from the in specie dividend or the ownership or disposition of Woodside Shares or Woodside ADSs after the receipt of the in specie dividend, and does not address all aspects of US federal income taxation that may be relevant to individual US Holders in light of their particular circumstances. 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. *t{sz@5}'d8{GXG Please try again. 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. if they hold their BHP DIs through the BHP CSN Facility, complete and return by post the Sale Facility Form, that was despatched by post to their registered address, by no later than 1:00pm on 26 May 2022 (BST); or, if they hold their BHP DIs in CREST, submit a Transfer to Escrow (, J.P. Morgan Securities Australia Limited or one of its affiliates (. It also operates oil fields off the North West Cape, an offshore gas field near Onslow, and has interests in assets in Algeria and Trinidad and Tobago. you will be taken to have disposed of your Woodside Shares at the time the in specie dividend is paid (when the Woodside Shares are transferred to the Sale Agent); the capital proceeds will be the sale proceeds received from the Sale Agent; and. 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. Allt lagas av oss och baseras p Strandgatans egna recept. Because while the world relies on the resources we find, BHP relies on people like you. Stay in touch with the latest news, stories and insights from BHP. Short-term and long-term executive incentive plans, under which employees are granted rights to BHP shares, subject to meeting defined performance and/or service conditions; and. 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. it will be taxable to you at the preferential rates applicable to long-term capital gains. 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. In the energy sector, some see better value in Santos (STO). Top up tax may arise for shareholders where the tax payable in relation to the dividend exceeds the franking credits attached. Thinking about your next career move? No. Were working to restore it. 08 April 2022. It is noted that Division 230 will generally not apply to the financial arrangements of individuals, unless an election has been made for those rules to apply. 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. 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. Thinking about your next career move? Thank you to anyone who can answer this? You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. 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. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. contact name and telephone number in the shared note field. Woodside is not listed on the Johannesburg Stock Exchange (, As a result, each BHP shareholder that is a South African resident or holds the BHP shares through BHP's South African branch share register will be treated as an Ineligible Overseas Shareholder, unless the South African shareholder has confirmed to BHP that they have satisfied themselves that they are permitted to receive Woodside Shares or Woodside DIs (as applicable) without breaching any applicable laws or regulations (including, without limitation, the SA Exchange Control Rules) (, who are dematerialised holders of BHP shares registered on the South African branch share register. 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? Does the amount of cash held include dividends received in any given year, or are the dividends in addition to the cash amount? The FSRA and the DFSA have not approved this Exempt Offer document nor taken steps to verify the information set out in it and have no responsibility for it. This document is not intended for distribution. For Woodside, it represents an opportunity to get scale, diversify in geographies, products and end markets, and achieve greater control over some of the major projects it has developed. Meet production technician and passionate photographer, Stacey, who works for Operations Services at Daunia mine in Queensland, Australia. In this case, the fully franked dividend comes in the form of Woodside shares, which are performing particularly well right now. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. 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. 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. On completion of the Merger, the combined company is expected to have a high margin oil portfolio, long life LNG assets and the financial resilience to help supply the energy needed for global growth and development over the energy transition. Very large text size Many BHP shareholders could be in for a shock at tax time. Under US federal income tax laws, if you are a US Holder. [32] 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. In lieu of a cash dividend payment, you will receive shares. 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)). Employees who continue to be employed by BHP will not receive the in specie dividend in respect of any unvested equity award or matching entitlement, and the value of the underlying BHP share to which they will receive on vesting will be reduced as a result of the in specie dividend that has been determined. BHP shareholders are expected to be entitled to one Woodside Share for every 5.5340BHP shares they hold on the Record Date. The BHP link shared by Greg above (BHP Petroleum merger with Woodside | BHP) does shed some light on the accounting treatments needed for this corporate action. Based on Woodside's share price of US$25.55 at 6 April 2022, the implied value of BHP Petroleum is US$23.4 billion. Important information in certain jurisdictions. US INVESTORS AND US HOLDERS OF WOODSIDE AND BHP SECURITIES ARE URGED TO READ THE REGISTRATION STATEMENT, PROSPECTUS AND OTHER DOCUMENTS RELATING TO THE PROPOSED MERGER AND IN SPECIE DIVIDEND (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS TO THOSE DOCUMENTS) THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT WOODSIDE, BHP, THE PROPOSED MERGER AND IN SPECIE DIVIDEND. 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 Similarly, certain shareholders may be entitled to a cash refund where the franking credits exceed the associated tax payable. NAB Defence, your protection against fraud. [24] 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. It is core to our strategy and sits at the heart of everything we do. To what extent will BHP shareholders' information transfer to the Woodside share register? Tel: +61 3 9609 3830 A BHP spokesperson points out there are two key points to make relating to the merger. No guarantee, representation or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns, statements or tax treatment in relation to future matters contained in this presentation. It looks like the CA would not give me (us) the answer. It must not be delivered to, or relied on by, any person apart from the shareholders of BHP in connection with proposed in specie dividend and participation in the Sale Facility. Gentlemen, thanks for being here today. Investors on both sides of the merger will retain their underlying shareholdings in each company. 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. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, 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. Generally, the market sees that the merger is a win for Woodside and while not a loss for BHP, its motive is around ease of exit rather than gaining a financial advantage. It has been prepared without having regard to or taking into account any particular investors objectives, financial situation and/or needs. iDP>=[_4P\"g\q|;Na*g8$R[xw'`$Ns5}@;U?Di#g ? [10] BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. Mark Taylor: 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. st louis mitsubishi dealer, nissan hardbody top speed, what does sea bream taste like, pet friendly houses for rent in greensburg, pa, gary dourdan commercial, shiey real name, trevor noah mother shot, manchester police scanner, advantages and disadvantages of marketing communication, craig jones, chicken breast recipes for gastritis, do dentures have to be removed for mri, carolina yacht club boathouse menu, le fils de carla bruni est il autiste, how many creatures in a commander deck,

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