bhp woodside merger tax implications

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. https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 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). #$r{h`}Xp$3t/[6b8X`-,B- ;%Z]*S{glj^p"*r hI DRMf]5CkH+Tva (W~Gm\}J-035f"xwwF:SNc`|KN Accordingly, this document or any amendment or supplement hereto or any other document relating to this in specie dividend must not be distributed in Malaysia, directly or indirectly, for the purpose of any offer of any of the Consideration Shares and no person may offer or make available any of the Consideration Shares, directly or indirectly, to anyone in Malaysia. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. Stay in touch with the latest news, stories and insights from BHP. and. , issuing new Woodside shares to BHP shareholders. 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. If you want to buy BHP shares to get the entitlement to the special dividend (and Woodside shares), you will need to do so by Tuesday 24 May. 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. This document relates to an Exempt Offer (i) in the Abu Dhabi Global Market in accordance with Rule 4.3.1(5) of the Market Rules of the Financial Services Regulatory Authority ("FSRA") and (ii) in the Dubai International Financial Centre in accordance with Rule 2.3.1(e) of the Markets Rules of the Dubai Financial Services Authority ("DFSA"). Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. 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. No. This means that once you satisfy the "holding period rule" in relation to a distribution on your BHP shares you do not need to satisfy it again in relation to those BHP shares for subsequent distributions, unless you make a "related payment" (refer below); and. Any income from these should be factored in when you are considering how much you should keep in a low-volatile area. This article does not reflect the views of WealthHub Securities Limited. Then think big. BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. Would this be regarded as a deprived asset? Summary of the merger. [18] A Central Securities Depository Participant, being a participant as defined in section 1 of the Financial Markets Act 19, of 2012 (South Africa). In addition to driving scale and diversity for Woodside, US$400m per annum of synergy benefits are expected. As we noted; a brilliant deal, cleverly structured. To what extent will BHP shareholders' information transfer to the Woodside share register? If a bank account is not recorded, the shareholder will be sent a cheque for the proceeds of sale by BHP (or the BHP share registry). 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. A new window will open. BHP has announced its intent to create a global top 10 independent energy company through an agreement to pursue a merger of BHPs petroleum business with Woodside. In addition, this summary does not address the Medicare tax on certain investment income, information reporting and backup withholding requirements, US federal estate or gift tax laws, any state, local, or non-US tax laws, any tax treaties, or any other tax laws. Choose your network to share this page with. I am 62 and work part-time. 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". As part of completion, BHP has made a net cash payment of approximately US$0.7 billion to Woodside. I received 11 shares of WDS and I had a little over 30 shares of BHP. Hydrocarbon Engineering , Wednesday, 01 June 2022 10:00. The Corporate Action does nothing to address the In Specie div. Dr tillagas varierande mat med hgsta standard. For Australian resident shareholders, it will be taxed just like any other dividend. hp 19a toner compatible printers menu menu I hope that Corporate Action gives the same result! CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. Warning! I'll enter the dividend and purchase and be happy. Thanks for your post and we have also updated your support call. Did your value come anywhere close to the $3.86 / BHP share that I suggested might apply? RNS Number : 7719H. On the next day, BHP shares will trade ex the entitlement meaning that you wont be eligible. Were working to restore it. The actual value of the in specie dividend and amount of franking credits is expected to differ on completion and will be determined based on Woodside's closing share price on the ASX on 31 May 2022, which is the day before the in specie dividend is paid. 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. Italy: By reading this announcement, you agree to be bound by the following limitations and qualifications: (i) this announcement is only intended to provide information on the distribution by BHP to its shareholders of shares of Woodside; (ii) this announcement is for informational purposes only and is not intended to and does not constitute an offer or invitation to exchange or sell or solicitation of an offer to subscribe for or buy, or an invitation to exchange, purchase or subscribe for, any securities, any part of the business or assets described herein, or any other interests or the solicitation of any vote or approval in any jurisdiction in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law; (iii) this announcement should not be construed in any manner as a recommendation to any reader of this document; and (iv) this announcement is not a prospectus, product disclosure statement or other offering document for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14th 2017. contact name and telephone number in the shared note field. I intend to follow Lloydys process. Find one worth sharing. 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. They should not provide this info if a tax ruling is pending. 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. nabtrade will be unavailable between 00:00 and 12:15 on Sunday 27 of November for scheduled maintenance. 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. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. 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. A new window will open. 08 April 2022. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. 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. Does this mean that my cost base of WDS shares has to be slightly more than $29.76 to have Lloydys transactions balance? Superannuation, SMSF & Personal Insurance. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. I also received $6.62 in lieu of fractional shares that I need to enter. Fre Lr 10.00 22.00, Det gamla Arbetarfreningens hus, en anrik och inspirerande kulturbyggnad frn 1867. 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. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. Similarly, certain shareholders may be entitled to a cash refund where the franking credits exceed the associated tax payable. The Product team is currently looking at this issue. 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. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd Thinking about your next career move? This form can be requested by contacting the telephone numbers set out in the Shareholder Information Line section further below or by logging into www.investorcentre.com/au; whose registered address on the BHP DI register on the applicable Record Date is in South Africa, will be an Ineligible Overseas Shareholder, unless the relevant BHP DI holder nominates that they are an Eligible SA Shareholder by completing and returning to the BHP share registry before 1:00pm on Tuesday, 31 May 2022 (BST) the South African Share Election Form which can be requested by contacting the telephone numbers set out in the Shareholder Information Line section further below. 0.7 billion to Woodside has acquired the entire share capital of BHP International. Any related communication does not reflect the views of WealthHub Securities Limited refund... Cash refund where the distribution or dissemination is prohibited Ltd Thinking about your next career move we ;! 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