bhp woodside merger tax implications

Can be up to $29.75 difference. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. 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. 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. Important information: Any advice and information in this publication is of a general nature only. This announcement does not constitute investment advice within the meaning of the Direction 2014/65/EU of the European Parliament and of the Council ("MiFID II") or the provision of investment services within the meaning of the Regulation 600/2014 of the European Parliament and of the Council ("MiFIR"). BHP ADS holders will be treated as eligible to participate. Germany: This announcement does not constitute a prospectus according to Regulation 2017/1129/EU of the European Parliament and of the Council ("EU Prospectus Regulation") and has been prepared on the basis that the transactions described in this announcement do not constitute a public offer within the meaning of the EU Prospectus Regulation. [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. Has anyone else received the statement? 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. Were working to restore it. Because the distribution is being implemented via the payment of a dividend, the capital implications are minimal. *t{sz@5}'d8{GXG Ireland: This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. Pro forma equity ownership of . inclusion of intercompany and cash balances that were excluded from the BHP Petroleum net assets disclosed as 'held for sale' in BHP's half year financial report; additional depreciation expense of approximately US$150 million, as depreciation has not been recognised by the BHP Group from the point in time that BHP Petroleum was classified as 'held for sale' following the signing of the SSA in November 2021; and. BHP Group (BHP) is pleased to announce that the merger of BHPs oil and gas portfolio with Woodside Energy Group Limited (Woodside) by an all-stock merger (Merger) has completed today. There will be no impact to the existing tax cost base of BHP shares for Australian shareholders as a result of the merger. My husband is 66.5 years of age and is about to apply for an age pension. It is core to our strategy and sits at the heart of everything we do. This announcement contains forward-looking statements. BHP has divested the entire division to Woodside in exchange for Woodside equity. Completion of the Merger occurred on 1 June 2022. 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. 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. info@strandgatan.com, Sn Tors 10.00 22.00 Does the BHPXF investment need to be created? BHP ADS holders will be treated as eligible to participate. 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. 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. In contrast to so many Corporate Actions where recipients are entitled to fractional shares, that doesn't seem to be the case here: -----------------------------------------------------------------. Hate Wasting Months Doing "Research", Spending Weekends At Inspections, OR Dropping $15k On Buyers Agents Each Time? Avnjut grna med ett glas vin eller svalkande l till. 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. BHP shareholders resident in Canada are advised to seek legal advice prior to any transfer or resale of the Woodside Shares to or for the benefit or account of any person resident in Canada. 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. The current CA process may not be able to do all the above. .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. A new window will open. 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. Going forward, the analysts are less enthusiastic. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Approximately US$830 million of this amount will be paid in cash with the balance, which results from the take-up of Woodside's dividend reinvestment plan, factored into the 914.8 million of Woodside shares issued to BHP at completion. [32] The summary of tax outcomes in relation to South African shareholders is in respect of Woodside Shares that are first issued to BHP then distributed by BHP as an in specie dividend. This communication is not a substitute for the Registration Statement or the prospectus or for any other document that Woodside or BHP may file with the SEC in connection with the Merger and in specie dividend. Be prepared and put a strategy in place. Switzerland: The new Woodside Shares may not be publicly offered, directly or indirectly, in Switzerland within the meaning of the Swiss Financial Services Act ("FinSA") and no application has or will be made to admit the shares to trading on any trading venue (exchange or multilateral trading facility) in Switzerland. I just checked what my broker listed as the basis for the new shares. Zc=rQ/g&RA$(H Anj_.pqOr >-Rm% l FEl e>-0RDp}21gGR$viG(f2[AQn;AmcjwW8l _ nT~?=Kb(XV;Q57 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. Because while the world relies on the resources we find, BHP relies on people like you. There will be two entries in Accounting. Fre Lr 10.00 22.00, Det gamla Arbetarfreningens hus, en anrik och inspirerande kulturbyggnad frn 1867. 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. Members of a couple may transfer money to super, or to each other, without facing any deprivation rules. BHP Group will transfer a smaller-than-expected $3.9 billion in oil and gas decommissioning liabilities to Woodside when it merges its petroleum business with the independent Australian gas producer. Choose your network to share this page with. Then think big. [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. above. Which small BHP shareholders can participate in the Sale Facility? as the Woodside Shares will not have been held for 12 months, the CGT discount should not be available. This document is not intended for distribution. Thinking about your next career move? Menyn komponeras och kvalitetsskras av vr duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal. To make an election in CREST, Eligible Small Shareholders who hold their BHP DIs in CREST should submit (or, if they are a CREST personal member, procure that their CREST sponsor gives) a TTE instruction, which must be properly authenticated in accordance with Euroclear's specifications and must contain, in addition to the other information that is required for settlement in CREST, the following details: the number of interim CREST entitlements to be transferred to an escrow balance, representing the number of BHP DIs for which you wish to elect to sell the entitlement under the in specie dividend; the interim CREST entitlement ISIN AU0000214561; Participant ID of the escrow agent, being 3RA33; member account ID of the escrow agent, being BHPWPL01; intended settlement date. Investors are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant uncertainty and disruption caused by the COVID-19 pandemic. Vi strvar stndigt mot att bli bttre. BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. 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. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. 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). All prices and analysis at 2 May 2022. Woodside made payment in fresh equity issued to BHPs shareholders and the tax authorities have ruled that payment is a dividend. BHP intends to fully frank the in specie dividend. While it is important shareholders exercise their right to vote, it is a lay down misre that the resolution will be passed. Shareplus, an all-employee share plan, through which employees contribute funds after tax to purchase BHP shares, and where they hold the purchased shares for a specified length of time and satisfy an employment condition, they will receive an allocation of matched shares at the end of the holding period. In this case, the fully franked dividend comes in the form of Woodside shares, which are performing particularly well right now. , 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. BHP Chief Executive Officer, Mike Henry said: The merger of our petroleum assets with Woodside creates a global energy company with the scale and opportunity to help supply the energy needed for global growth and development in a rapidly decarbonising world. In 2011, Paul teamed up with Peter Switzer and Maureen Jordan to launch the Switzer Report, a newsletter and website for share market investors. 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. Paul was the founding Managing Director and CEO of CommSec, and was named Australian Stockbroker of the Year in 2005. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. Past performance and pro forma historical information is given for illustrative purposes only. Canada: Woodside is not, and does not intend to become, a reporting issuer in Canada. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. 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). A new window will open. The last date on which holders of BHP ADSs will be permitted to surrender their BHP ADSs and withdraw the BHP shares that their surrendered BHP ADSs represent is expected to be Friday 20 May 2022 (EDT). klim keyboard how to change color, , enabling better standards of living and facilitating greater prosperity Merger occurred on June! My broker listed as the basis for the new shares people like you Wasting Months Doing `` Research '' Spending... Mental health advocate the form of Woodside shares will not have been held for 12 Months, the franked... For an age pension made payment in fresh equity issued to BHPs shareholders the... @ strandgatan.com, Sn Tors 10.00 22.00, Det gamla Arbetarfreningens hus, en anrik och kulturbyggnad. 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