Woodside Petroleum Limited (ASX code: WPL) have provided an update regarding the proposed purchase of BHP Petroleum International Pty Ltd that was detailed in Notice No. 0397.22.04 dated Friday, 11 April 2022.

Woodside Petroleum Limited (ASX code: WPL) announced a name and code change from Woodside Petroleum Ltd (ASX Code: WPL) to Woodside Energy Group Ltd (ASX Code: WDS) that will take effect from Wednesday 25 May 2022 as referenced on Notice No. 0554.22.05 dated 20 May 2022.

With the code change, BHP shareholders are now expected to be entitled to receive one share in Woodside Energy Group Ltd (ASX Code: WDS) for every 5.534 BHP shares held. See updated adjustment formula for BHP ETOs that reflects the name change of Woodside Petroleum Ltd (ASX Code: WPL) to Woodside Energy Group Ltd (ASX Code: WDS) (no adjustment will be made for WDS ETOs as ASX Clear considers the increase in shares issued by WDS equivalent to the asset being acquired by the company.)     

TC = OC + n*r/S

Where:

TC    = theoretical new contract size (prior to any rounding) which is used in intermediate calculations

OC   = old contract size (currently 100)

n      = the number of Woodside Energy Group shares attributed to each OC determined by the issue ratio applied to the old contract size, (1 WDS: 5.534 BHP)

r      = the market value of the each of the new shares as determined by ASX, using VWAP of Woodside Energy Group Ltd on 25 May 2022

S     = VWAP of BHP determined by ASX on the first day of ex-Entitlement trading, 25 May 2022

What do I need to do by when?

Participants should be aware of the content of this Notice as it sets out the updated names and codes with respect to WDS shares.

Need more information?

Issued by

Greg Fitzpatrick, Clearing Operations

Contact information

William Ward
clearing@asx.com.au

Disclaimer