BHP Ltd., Melbourne, reported on Jan. 25 the U.K. Court that day issued the Court Order sanctioning the Plc scheme of arrangement to effect unification.
The Plc Scheme was set to become effective at 9:00 p.m. (GMT) on Jan. 28, after the U.K. Court Order was delivered to the U.K. Registrar of Companies.
BHP on Jan. 20 won shareholder support to unify the group’s corporate dual-listed (DLC) structure under its existing Australian parent company, BHP Group Ltd. (GM Jan. 21, p. 27), a move that could facilitate the mining major’s return to large-scale M&A activity, according to a Bloomberg report (GM Jan. 21, p. 1).
Unification is expected to complete by Jan. 31, 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 Ltd. will become the sole parent company of the BHP Group.