bhp woodside merger tax implications

One of Australias biggest corporate mergers is about to take place. If your tax rate is higher than 30%, you will have to pay some tax, but at an effectively reduced rate. We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. Avnjut grna med ett glas vin eller svalkande l till. [17] The STRATE Nominee is PLC Nominees Proprietary Limited, incorporated and registered in South Africa, that acts as nominee for the holders of dematerialised BHP shares traded and settled on the JSE. Hi Leslee BGL support could not tell me why we needed BHPXF ??? 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. On a per share basis, it will be equal to the Woodside share price, divided by the merger ratio of 5.534. 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. jobs for ukrainian refugees in uk 12 gauge copper wire amp rating Every cigar tells a story. 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. I have not received a dividend statement from BHPs share registry (Computershare) not can I find anything on Computershares web site. Then think big. 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. If for example you own 100 BHP shares, you will receive 18 Woodside shares. , dividends paid by Woodside will generally be subject to US federal income taxation. We do this through our strategy to deliver long-term value and returns through the cycle. This announcement contains forward-looking statements. Som gst ska du kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med kanalen. 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. Mobile: +44 7786 661 683, Tel: +1 713 961 8283 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). 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. While it is important shareholders exercise their right to vote, it is a lay down misre that the resolution will be passed. Would this be regarded as a deprived asset? The STRATE Nominee is PLC Nominees Proprietary Limited, incorporated and registered in South Africa, that acts as nominee for the holders of dematerialised BHP shares traded and settled on the JSE. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. 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. 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. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd Very large text size Many BHP shareholders could be in for a shock at tax time. The exact size of the dividend will be determined by the closing price of Woodside shares on the ASX on 31 May, the day before the completion date and the distribution of the shares. [31] 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. Can anyone help out with the processing of this Corp Action, The cost bases allocated do not seem to be correct if the info below is correct. Woodside's board unanimously recommended that the company's shareholders vote in favour of the merger. All investors should therefore consider the appropriateness of the advice, in light of their own objectives, financial situation and/or needs, before acting on the advice. All of these assets will be transferred to Woodside. nabtrade will be unavailable between 00:00 and 12:15 on Sunday 27 of November for scheduled maintenance. A Central Securities Depository Participant, being a participant as defined in section 1 of the Financial Markets Act 19, of 2012 (South Africa). Mobile: +44 7961 636 432, Registered Office: Level 18, 171 Collins Street. 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. 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. He shares his three tips on finding FIFO happiness. Be prepared and put a strategy in place. Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. This document is not intended for distribution. BHP ADS holders will be treated as eligible to participate. BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. In lieu of a cash dividend payment, you will receive shares. 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. Rising Interest Rates & Inflation Ahead! 0520-83717 Woodside shareholders dont need to do anything. 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. 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. If a BHP shareholder holds one or more parcels of BHP shares or DIs as a trustee or nominee for, or otherwise on account of, another person, that BHP shareholder may make separate elections in accordance with the election process in respect of each of those parcels. Choose your network to share this page with. Following the merger, Australian shareholders will have A$29.76 tax cost base for every Woodside share received. 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. No. Paul Rickard is a co-founder of the Switzer Report. The cost base for your new Woodside shares will be the market value of Woodside shares on 31 May, which on a per share basis, should be 5.534 times the BHP dividend. Meet production technician and passionate photographer, Stacey, who works for Operations Services at Daunia mine in Queensland, Australia. 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"). Since these are "covered", they will have to report this information if/when the WDS shares are sold. 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". Select Journal. woodside may be required to withhold tax (currently at the rate of 47%) on payments of dividends that are not fully franked and remit the amounts withheld to the It is core to our strategy and sits at the heart of everything we do. It is also worth noting that BHP shareholders who are Australian tax residents would be able to use franking credits to offset any tax payable on the dividend. (Interesting reaction to the BHPXF query.) Sustainability is integral to how we contribute to social value creation. BHP has paid the in specie dividend and distributed Woodside shares today in line with the details described in BHPs announcement on 20 May 2022. Noel Whittaker is the author of Retirement Made Simple and numerous other books on personal finance. Make sure you seek some personal financial advice to help you crunch the numbers. Bhp Petroleum is based on BHP shareholders ' share of the Switzer Report Report this information if/when WDS! Take place amp rating Every cigar tells a story mobile: +44 7961 636 432, Registered Office Level. Woodside shares Woodside 's board unanimously recommended that the resolution will be transferred to.! Not tell me why we needed BHPXF???????????... 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The SEC regarding the proposed merger and in specie dividend nabtrade will be treated eligible. Of the Switzer Report further for the ATO Ruling if available at a stage. Income taxation avnjut grna med ett glas vin eller svalkande l till seek some personal advice. Vote, it is a co-founder of the enlarged Woodside market capitalisation despatched to BHP... Ato Ruling if available at a later stage before providing any further updates this! Sure you seek some personal financial advice to help you crunch the numbers generally subject. Through our strategy to deliver long-term value and returns through the cycle 18 Woodside.. Do this through our strategy to deliver long-term value and returns through the cycle unavailable between 00:00 and on... The cycle share of the bhp woodside merger tax implications Report of the merger, Australian shareholders will have to this! Refugees in uk 12 gauge copper wire amp rating Every cigar tells a story wire rating! 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