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Woodside shareholders approve merger

Published by , Senior Editor
Hydrocarbon Engineering,

Woodside shareholders have voted to approve the proposed merger with the petroleum business of BHP Group Ltd at the company’s Annual General Meeting (AGM) on Thursday 19 May 2022.

98.66% of the votes submitted were in favour of the merger.

All conditions precedent necessary to implement the merger that require a positive action or event in order to be satisfied have now been satisfied or waived. Woodside expects completion of the merger to occur on 1 June 2022.

The new Woodside shares to be issued to or for the benefit of BHP shareholders are expected to commence trading on the Australian Securities Exchange (ASX) on 2 June 2022. Trading of Woodside American Depositary Shares on the New York Stock Exchange is expected to commence on 2 June 2022. Trading of Woodside shares on the Main Market for listed securities of the London Stock Exchange is expected to commence on 6 June 2022.

In addition, following the approval of Woodside shareholders at the AGM, Woodside’s change of name from Woodside Petroleum Ltd to Woodside Energy Group Ltd has been registered by the Australian Securities and Investments Commission (ASIC).

Woodside’s ASX ticker code will change from WPL to WDS with effect from Wednesday 25 May 2022. All references to ‘Woodside Petroleum Ltd’ in the company’s constitution have been replaced with references to ‘Woodside Energy Group Ltd.’

The proportional takeover provisions contained in Schedule 1 of the company’s constitution have also been reinserted for a period of three years from 19 May 2022, following shareholder approval at the AGM.

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