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BHP Group (BHP)

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idpickering
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Re: BHP Group (BHP)

#457077

Postby idpickering » November 10th, 2021, 1:54 pm

Update on offer for Noront Resources Limited

Further to BHP's release on 3 November 2021, in relation to the recommended all-cash offer to acquire all of the issued and outstanding common shares of Noront Resources Limited by BHP Western Mining Resources International Pty Ltd, an update is provided in the attached release.

Information on BHP can be found at: bhp.com


https://www.investegate.co.uk/bhp-group ... 47589657R/

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Re: BHP Group (BHP)

#457212

Postby idpickering » November 11th, 2021, 7:09 am

BHP Group Limited 2021 AGM Speeches

https://www.investegate.co.uk/bhp-group ... 00010692S/

BHP Group Limited 2021 AGM Presentation

https://www.investegate.co.uk/bhp-group ... 00010691S/

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Re: BHP Group (BHP)

#457353

Postby idpickering » November 11th, 2021, 3:40 pm


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Re: BHP Group (BHP)

#459965

Postby idpickering » November 22nd, 2021, 7:05 am

Agreement to create a global energy company


BHP Group ( BHP ) and Woodside Petroleum Ltd ( Woodside ) have today signed a binding share sale agreement ( SSA ) for the merger of BHP's oil and gas portfolio with Woodside ( Merger ). Woodside will acquire the entire share capital of BHP Petroleum International Pty Ltd (BHP Petroleum) in exchange for new Woodside shares.

The signing of the SSA follows the merger commitment deed announced on 17 August 2021.

On completion, the Merger will create a global top 10 independent energy company by production and the largest energy company listed on the ASX.[1] The combined company will 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.

BHP CEO Mike Henry said BHP's petroleum business and Woodside are better together and will create value for BHP shareholders.

"Merging our petroleum business with Woodside creates a large, more resilient company, better able to navigate the energy transition and grow value while doing so," he said.

"Through the merger we will provide value and choice for BHP shareholders, and unlock synergies in how these assets are managed."


https://www.investegate.co.uk/bhp-group ... 00060924T/

BHP approves Phase 1 of the Scarborough Project

Further to the announcement today that BHP Group (BHP) and Woodside Petroleum Ltd (Woodside) have entered into a share sale agreement to merge their respective oil and gas portfolios, BHP has approved US$1.5 billion in capital expenditure for development of the Scarborough upstream project located in the North Carnarvon Basin, Western Australia. Final investment decisions have also been made by Woodside and the Scarborough Joint Venture.

A US$150 million payment is payable to BHP Petroleum (North West Shelf) Pty Ltd by Woodside upon this Financial Investment Decision (FID) of the Scarborough project pursuant to the 2016 divestment of BHP's 25 per cent Scarborough Joint Venture interest to Woodside[1].

The approved capital expenditure represents BHP's 26.5 per cent participating interest in Phase 1 of the upstream development. Woodside holds the remaining 73.5 per cent interest and is the operator of the project.


https://www.investegate.co.uk/bhp-group ... 00060926T/

tjh290633
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Re: BHP Group (BHP)

#460169

Postby tjh290633 » November 22nd, 2021, 7:48 pm

I noted the following comments from the RNS quoted:

On completion of the Merger, Woodside will issue new shares expected to comprise approximately 48% of all Woodside shares (on a post-issue basis) as consideration for the acquisition of BHP Petroleum. The Merger ratio is based on the number of Woodside shares at the effective date. The number of new shares issued on completion will be adjusted to reflect shares issued by Woodside under its dividend reinvestment plan after the effective date.

The new Woodside shares will be distributed to BHP shareholders as an in-specie fully franked dividend.

and
Woodside listings and governance

Woodside will retain its primary listing on the Australian Securities Exchange (ASX).

Woodside is currently pursuing a secondary listing on the New York Stock Exchange (NYSE) through an American depository receipt (ADR) arrangement, with a target of being active by completion. The NYSE listing would provide increased access to international equity and debt markets. Additional secondary listings are being evaluated.


One hopes that they will pursue a London listing, otherwise we BHP holders may find holding a share not quoted in London to be a bit of a problem. South32 did get a London listing, so no problem holding that.

TJH

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Re: BHP Group (BHP)

#460177

Postby Bouleversee » November 22nd, 2021, 8:15 pm

I can't say I am thrilled with this development. Woodside Oil was one of my first investments, many years ago, and I lost a fair bit of my investment. My instinct would be to sell immediately but then I expect so will many others and the s.p. will drop. Happy to be proved wrong.

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Re: BHP Group (BHP)

#462698

Postby idpickering » December 2nd, 2021, 4:44 pm

BHP to proceed with Unification proposal

BHP has today announced a final Board decision to unify BHP’s corporate structure under its existing Australian parent

company, BHP Group Limited.

The Board believes unification is in the best interests of BHP shareholders. It will result in a corporate structure that is

simpler and more efficient, reduces duplication and streamlines BHP’s governance and internal processes. A unified

structure will also improve flexibility for portfolio reshaping to maximise shareholder value over the long-term, including

facilitating a simpler separation of the Petroleum business.


A Shareholder Circular and a Prospectus are expected to be published on or around 8 December 2021, which will

contain further information on unification and the Limited shares, including details of the proposed UK scheme of

arrangement to effect unification, an independent expert’s report on whether unification is in the best interests of BHP

shareholders, and the notices of shareholder meetings of BHP Group Limited and BHP Group Plc, which are expected

to take place on 20 January 2022.

And later;

BHP will have its primary listing on the ASX, a standard listing on the London Stock Exchange (LSE), a secondary listing

on the Johannesburg Stock Exchange (JSE), and a sponsored Level II American Depositary Receipt program on the

New York Stock Exchange (NYSE). Our global investor base will continue to be able to invest in BHP on the same

securities exchanges as prior to unification.



https://www.moneyweb.co.za/mny_sens/bhp ... -proposal/

RNS re this;

Presentation on BHP's Unification proposal. https://www.investegate.co.uk/bhp-group ... 49563630U/

Ian.

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Re: BHP Group (BHP)

#462889

Postby idpickering » December 3rd, 2021, 2:07 pm

Update on recommended offer for Noront Resources

Further to BHP's release on 24 November 2021, in relation to the recommended all-cash offer to acquire all of the issued and outstanding common shares of Noront Resources Limited by BHP Western Mining Resources International Pty Ltd, an update is provided in the attached release.

Information on BHP can be found at: bhp.com


https://www.investegate.co.uk/bhp-group ... 14435499U/

idpickering
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Re: BHP Group (BHP)

#465397

Postby idpickering » December 13th, 2021, 7:22 am

Further o the above;

Update on recommended all-cash offer for Noront Resources Limited



Further to BHP's release on 3 December 2021, in relation to the recommended all-cash offer to acquire all of the issued and outstanding common shares of Noront Resources Limited by BHP Western Mining Resources International Pty Ltd, an update is provided in the attached release.

Information on BHP can be found at: bhp.com


https://www.investegate.co.uk/bhp-group ... 00063601V/

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Re: BHP Group (BHP)

#465412

Postby daveh » December 13th, 2021, 9:06 am

So discussions with Wyloo metals have failed to garner an agreement and BHP are going it alone to takeover Noront. I hope BHP don't end up over paying.

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Re: BHP Group (BHP)

#467710

Postby idpickering » December 21st, 2021, 7:04 am

Unification Regulatory and Competition Approvals

On 2 December 2021, BHP announced a final Board decision to unify BHP's corporate structure under its existing Australian parent company, BHP Group Limited. On 8 December 2021, BHP announced the publication of the Shareholder Circular, Prospectus and Johannesburg Stock Exchange pre-listing announcement, and set out the expected timetable and outstanding approvals required for the implementation of unification.

BHP is pleased to confirm that all regulatory and competition approvals for unification have now been received, including approval from the National Treasury of South Africa[1].

Shareholder meetings of BHP Group Limited and BHP Group Plc will be held on Thursday 20 January 2022 to consider unification. Information on unification is available on BHP's website at http://www.bhp.com/unify.

If approved by shareholders and all other conditions are satisfied or waived (including the UK court's sanction of the scheme of arrangement and admission of Limited shares to the standard segment of the FCA official list and trading on LSE and listing on the JSE), unification is expected to complete on 31 January 2022. The last day of trading in BHP Group Plc shares (including BHP Group Plc shares in the form of ADSs on the NYSE) would be 28 January 2022 and the Limited shares that would be issued in connection with unification are expected to be admitted to trading on the ASX, LSE, JSE and Limited ADSs on the NYSE on 31 January 2022.


https://www.investegate.co.uk/bhp-group ... 00023206W/

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Re: BHP Group (BHP)

#468157

Postby idpickering » December 23rd, 2021, 7:04 am

BHP and Noront Terminate Support Agreement

Further to BHP's release on 21 December 2021, in relation to the recommended all-cash offer to acquire all of the issued and outstanding common shares of Noront Resources Limited by BHP Western Mining Resources International Pty Ltd, an update is provided in the attached release.

Information on BHP can be found at: bhp.com


https://www.investegate.co.uk/bhp-group ... 00055592W/

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Re: BHP Group (BHP)

#473673

Postby idpickering » January 17th, 2022, 7:33 am

BHP Group Limited General Meeting Update

Update on BHP Group Limited General Meeting to approve unification proposal

Given the ongoing COVID-19 situation in Melbourne, BHP Group Limited has today announced that the General Meeting of BHP Group Limited on 20 January 2022 to approve BHP's unification proposal will be held as an online meeting.

BHP is committed to health and safety, including the health and safety of our shareholders and our people. Accordingly, as foreshadowed as a possible contingency plan in the Notice of Limited General Meeting released on 8 December 2021, BHP has today decided that the BHP Group Limited meeting will be held as an online meeting instead of an in-person meeting in Melbourne.

The date and time of the meeting remain unchanged. The meeting will be held online at 6:00pm (Melbourne time) on Thursday, 20 January 2022. The business to be considered at the meeting also remains unchanged, and is set out in the original Notice of Limited General Meeting. There are no changes to the arrangements for the BHP Group Plc scheme and general meetings also being held on 20 January and related to unification.

BHP recognises the importance of the meeting as an opportunity for BHP Group Limited shareholders to consider and vote on the unification proposal. BHP Group Limited shareholders will be able to ask questions and vote in real time via an online platform.


https://www.investegate.co.uk/bhp-group ... 00066392Y/

idpickering
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Re: BHP Group (BHP)

#474273

Postby idpickering » January 19th, 2022, 7:05 am

Operational Review for Half Year Ended 31 Dec 2021

· We remained fatality free at our operated assets for the third consecutive year.

· WAIO achieved near record production for the half year and Escondida achieved record material mined, notwithstanding the impacts of significant wet weather and the COVID-19 Omicron variant on some operations.

· Production guidance for the 2022 financial year remains unchanged for iron ore, energy coal and nickel. Full year total copper production is trending towards the low end of the guidance range, reflecting lower production guidance for Pampa Norte. Metallurgical coal guidance has been reduced as a result of significant wet weather impacts and COVID-19 related labour constraints.

· Full year unit cost guidance(1) for WAIO, Escondida and NSWEC remains unchanged. Unit cost guidance for Queensland Coal has been increased, reflecting lower expected volumes for the full year.

· Progress on the review of our lower grade metallurgical coal and thermal coal assets continues. The Cerrejón divestment to Glencore completed in January 2022 and the announced share sale agreement to divest BHP Mitsui Coal ( BMC) is expected to complete in the middle of the 2022 calendar year.

· Our potash major projects under development are tracking to plan. The Jansen shaft project is 98% complete and the Jansen Stage 1 project has commenced contract awards.

· BHP announced a final decision to unify BHP's corporate structure under its existing Australian parent company, BHP Group Limited. Shareholder meetings to vote on unification will be held on 20 January 2022. Subject to shareholder approval and UK Court sanction, unification is expected to complete by 31 January 2022.

· Completion of the proposed merger of our Petroleum business with Woodside is expected in the June 2022 quarter subject to satisfaction of conditions precedent including approval by Woodside shareholders. The half year financial results are being prepared on the basis that the Petroleum business is a discontinued operation and restated financial information for the year ended 30 June 2021 and the half year ended 31 December 2020 is provided in Attachment 1.


https://www.investegate.co.uk/bhp-group ... 00058819Y/

idpickering
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Re: BHP Group (BHP)

#474696

Postby idpickering » January 20th, 2022, 11:12 am

BHP Group Plc Shareholder Meeting Presentations

https://www.investegate.co.uk/bhp-group ... 36121006Z/

BHP Group Plc Shareholder Meeting Speeches

https://www.investegate.co.uk/bhp-group ... 33051005Z/

Ian.

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Re: BHP Group (BHP)

#474790

Postby idpickering » January 20th, 2022, 4:10 pm

Results of BHP Unification Shareholder Meetings

BHP Shareholders approve Unification Resolutions

On 2 December 2021, BHP announced a final Board decision to unify BHP's corporate structure under its existing Australian parent company, BHP Group Limited. BHP is pleased to announce that BHP Shareholders have approved each of the unification resolutions at the BHP Group Limited General Meeting, the BHP Group Plc Scheme Meeting and the BHP Group Plc General Meeting.

Attached are the results of the business conducted at the BHP Group Limited General Meeting, held virtually in Australia on 20 January 2022, and both the BHP Group Plc Scheme Meeting and the BHP Group Plc General Meeting that were held in London, United Kingdom on 20 January 2022. A poll was conducted on each of the proposed resolutions and the poll results for each meeting are attached.

The final proxy position for each meeting is detailed in Appendix 1. The additional information required by the United Kingdom Companies Act 2006 in respect of the BHP Group Plc Scheme Meeting and the BHP Group Plc General Meeting is provided in Appendix 2.

Copies of the resolutions approved at each of the meetings have been submitted to the FCA National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy of the proposed amendments to the BHP Group Plc articles of association together with a copy of the BHP Group Plc articles of association adopted at the BHP Group Plc General Meeting are also available for inspection on the FCA National Storage Mechanism.

Next steps and expected timetable of events

Unification involves a scheme of arrangement and still requires the UK Court's sanction of the Plc Scheme. The Court Sanction Hearing is expected to take place on 25 January 2022. The dates and times in the detailed timetable as set out in the Shareholder Circular published by BHP on 8 December 2021 remain unchanged.


https://www.investegate.co.uk/bhp-group ... 19231421Z/

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Re: BHP Group (BHP)

#475657

Postby idpickering » January 24th, 2022, 7:13 am

Notification of Major Interest in Shares

https://www.investegate.co.uk/bhp-group ... 00122975Z/

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Re: BHP Group (BHP)

#476070

Postby daveh » January 25th, 2022, 3:49 pm

Court approval for unification:
https://www.investegate.co.uk/bhp-group ... 27005992Z/

On 20 January 2022, BHP announced that shareholders had voted in favour of unification at the BHP shareholder meetings convened in connection with unification. BHP is pleased to announce that the UK Court has today issued the Court Order sanctioning the Plc scheme of arrangement to effect unification.

It is anticipated that the Plc Scheme will become effective at 9:00pm (GMT) on 28 January 2022, when the UK Court Order is expected to be delivered to the UK Registrar of Companies.

Next steps and unification timetable

Unification is expected to complete by 31 January 2022 (Melbourne time). To effect unification, Plc Shares and Plc ADSs will be exchanged for Limited Shares and Limited ADSs (respectively) on a one for one basis. BHP Group Limited will become the sole parent company of the BHP Group.


So for UK holders we should see new BHP Group Limited shares in our accounts by the 1st Feb (I hope).

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Re: BHP Group (BHP)

#476076

Postby Bouleversee » January 25th, 2022, 4:04 pm

I hold BHP in 2 ISAs. What is going to be the situation as regards tax? Am I right in thinking that the Australians deduct a withholding tax and will this be reclaimable on shares in an ISA?

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Re: BHP Group (BHP)

#476091

Postby csearle » January 25th, 2022, 4:25 pm

idpickering wrote:Notification of Major Interest in Shares

https://www.investegate.co.uk/bhp-group ... 00122975Z/
What do you make of this! C.


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