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Still trying to get my alcohol-pickled brain around this assertion. C.monabri wrote:[5] I was umming and ahhing about selling when the sp shot up 10% this morning...I could have sold and rebought with a profit! Drat!
csearle wrote:Still trying to get my alcohol-pickled brain around this assertion. C.monabri wrote:[5] I was umming and ahhing about selling when the sp shot up 10% this morning...I could have sold and rebought with a profit! Drat!
Sorry I was a bit slow there.monabri wrote:csearle wrote:Still trying to get my alcohol-pickled brain around this assertion. C.monabri wrote:[5] I was umming and ahhing about selling when the sp shot up 10% this morning...I could have sold and rebought with a profit! Drat!
Initially up ~10% at one point, closed up 3.4%.
C.Shares in BHP Group Ltd. and Woodside Petroleum fell on Wednesday as investors digested details of the Perth-based oil and gas group's A$40 billion ($29 billion) merger with BHP's petroleum arm, with some questioning the value of the deal for Woodside.
While a 6% fall in BHP's share price was linked to a decision to end its UK dual listing, where its shares have traditionally traded at a large discount, a fall of up to 4% in Woodside reflected concerns about the expansion, they said.
"It may be difficult to get a vote across the line, with Woodside shareholders likely to question the value of the merger," said Jamie Hannah, deputy head of investments at Van Eck Australia, a shareholder in both BHP and Woodside.
monabri wrote:Note : BHP Group Ltd are BHP shares on the Australian market.
Dod101 wrote:monabri wrote:Note : BHP Group Ltd are BHP shares on the Australian market.
Sounds as if they are taking a leaf out of Unilever's book and converting PLC shares to BHP Group Ltd shares although keeping a listing in London.
Dod
daveh wrote:Dod101 wrote:monabri wrote:Note : BHP Group Ltd are BHP shares on the Australian market.
Sounds as if they are taking a leaf out of Unilever's book and converting PLC shares to BHP Group Ltd shares although keeping a listing in London.
Dod
Except they are only talking about a secondary listing in the UK so, unlike ULVR, BHP will fall out of the FTSE index.
Listened to Wake up to Money on Radio 5Live this morning and the presenter asked the "financial expert" what the change of BHPs dual listing status meant for those who held BHP plc shares in the UK. She failed to answer the question as asked. Just saying that as it would mean BHP was no longer in the FTSE index, trackers would no longer hold the shares so those who invest in trackers in their pension and/or ISA would no longer have an interest in BHP.
Dod101 wrote:daveh wrote:Dod101 wrote:
Sounds as if they are taking a leaf out of Unilever's book and converting PLC shares to BHP Group Ltd shares although keeping a listing in London.
Dod
Except they are only talking about a secondary listing in the UK so, unlike ULVR, BHP will fall out of the FTSE index.
Listened to Wake up to Money on Radio 5Live this morning and the presenter asked the "financial expert" what the change of BHPs dual listing status meant for those who held BHP plc shares in the UK. She failed to answer the question as asked. Just saying that as it would mean BHP was no longer in the FTSE index, trackers would no longer hold the shares so those who invest in trackers in their pension and/or ISA would no longer have an interest in BHP.
Indeed, and shareholders of the PLC company could do a Unilever when they tried to do a Dutch takeaway. They stymied it by not giving the PLC the required 75% of those voting so those index trackers could do the same and frustrate BHP into leaving the dual listing in place.
Dod
scrumpyjack wrote:Dod101 wrote:daveh wrote:Except they are only talking about a secondary listing in the UK so, unlike ULVR, BHP will fall out of the FTSE index.
Listened to Wake up to Money on Radio 5Live this morning and the presenter asked the "financial expert" what the change of BHPs dual listing status meant for those who held BHP plc shares in the UK. She failed to answer the question as asked. Just saying that as it would mean BHP was no longer in the FTSE index, trackers would no longer hold the shares so those who invest in trackers in their pension and/or ISA would no longer have an interest in BHP.
Indeed, and shareholders of the PLC company could do a Unilever when they tried to do a Dutch takeaway. They stymied it by not giving the PLC the required 75% of those voting so those index trackers could do the same and frustrate BHP into leaving the dual listing in place.
Dod
I can't see why PLC shareholders would object. The Ltd co's shares will be listed in London so will be as easy to sell or buy as they are now. The Plc shares have consistently sold at a discount to Ltd shares because of the effect of the Australian tax system. UK shareholders will now have their dividends 'franked' which anyone holding in a taxable account will be able to offset any UK tax and that discount will unwind.
The only 'losers' are the London Stock Exchange (reduced listing fees) and the London lawyers, bankers and auditors (lower fees).
It will have some effect on index funds as PLC shares have to be sold and other shares bought to restore index weightings.
scrumpyjack wrote: The Ltd co's shares will be listed in London so will be as easy to sell or buy as they are now.
Lootman wrote:scrumpyjack wrote: The Ltd co's shares will be listed in London so will be as easy to sell or buy as they are now.
And denominated in sterling as now, presumably?
So a UK holder won't notice any difference at all? Not even a ticker change?
BHP will be hosting an investor and analyst briefing today on the Jansen project.
The presentation will be available on BHP's website at: https://www.bhp.com/investors/presentat ... -briefings
The following document has today been submitted to the FCA National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
- BHP Group Plc 2021 AGM Presentation
The document will also shortly be available via BHP's website at: https://www.bhp.com/investors/presentat ... s/meetings
The Annual General Meeting of BHP Group Plc can be accessed at:
https://edge.media-server.com/mmc/p/8e2yermz.
Further information on BHP can be found at bhp.com.
BHP Group PLC on Tuesday left its full-year guidance unchanged despite seeing a fall in production in the first quarter of its financial year.
The Melbourne-based global mining heavyweight saw petroleum production in the three months to the end of September rise 3.0% year-on-year to 27.5 million barrels of oil equivalent from last year's 26.7 million.
Copper production fell 8.9% to 376,500 tonnes in the quarter from 413,200 tonnes last year, while iron ore slipped 4.1% to 63.3 million tonnes from 66.0 million tonnes.
Metallurgical coal decreased 8.2% year-on-year to 8.9 million tonnes from 9.7 million tonnes, and was down 25% compared to the last quarter of the 2021 financial year, mainly due to planned "major" maintenance. Annually, energy coal production increased 17% to 4.2 million tonnes from 3.6 million.
Nickel production dropped by a fifth to 17,800 tonnes compared last year's 22,200 tonnes, mainly due to planned maintenance across the supply chain.
Gold production fell 4.7% to 75,206 ounces from 78,940 ounces.
"BHP's operations delivered reliably during the first quarter, and we completed planned major maintenance activities across a number of our assets. We continue to skilfully navigate the ongoing challenges of Covid-19," asserted BHP Chief Executive Mike Henry.
BHP kept both its production and unit cost guidance for financial 2022.
BHP shares ended 2.0% lower at AUD38.39 each in Sydney on Tuesday.
Further to BHP's release on 31 August 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
BHP today announced it has signed a Share Sale and Purchase Agreement to divest its 80 per cent interest in BHP Mitsui Coal (BMC), an operated metallurgical coal joint venture in Queensland.
Stanmore SMC Holdings Pty Ltd, a wholly owned subsidiary of Stanmore Resources Limited (Stanmore Resources), has agreed to acquire 100 per cent of the shares in Dampier Coal (Queensland) Pty Ltd from BHP Minerals Pty Ltd, the subsidiary which holds BHP's interest in BMC, for cash consideration of up to US$1.35 billion.
The purchase price comprises US$1.1 billion cash on completion, US$100 million in cash six months after completion and the potential for up to US$150 million in a price-linked earnout payable in the 2024 calendar year. Excluding the price-linked earnout, this represents an Enterprise Value/EBITDA multiple of 6.9x1.
The sale is subject to the satisfaction of certain conditions, including customary competition and regulatory approvals. This includes approval from the Foreign Investment Review Board. Stanmore Resources has agreed to a break fee payable where certain conditions are not satisfied.