BHP Ltd., Melbourne, has confirmed all regulatory and competition approvals for the unification of the group’s corporate structure under its existing Australian parent company, BHP Group Ltd., have now been received, including approval from the National Treasury of South Africa.
The group’s Board reached a final decision for the unification in early December (GM Dec. 3, p. 33), after announcing its intention in August to unify the group’s corporate structure (GM Aug. 20, p.1; Oct. 22, p. 35). It said the National Treasury of South Africa approval was obtained pursuant to an application that BHP made to the South African Reserve Bank (SARB).
Shareholder meetings of BHP Group Ltd. and BHP Group Plc will be held on Jan. 20, 2022, to consider unification, BHP said in a Dec. 21 statement.
If the unification is approved by shareholders and all other conditions are satisfied or waived, BHP expects unification to complete on Jan. 31, 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 Jan. 28, 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 Jan. 31, 2022.