https://www.miningweekly.com

BHP shareholders back unification

21st January 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The shareholders of diversified miner BHP have voted in favour of a corporate restructure to unify the company under its existing Australian parent company.

BHP currently operates under a dual-listed company (DLC) corporate structure, which was established at the time of the BHP and Billiton merger in 2001.

The DLC structure comprises two parent companies; BHP Group Limited in Australia and BHP Group Plc in the UK, with separate stock exchange listings and separate share registers. The two groups operate as a unified economic entity with a common board and management, and shares in Limited and Plc carry equivalent voting and economic rights.

The unification is expected to result in a corporate structure that is simpler and more efficient, reduces duplication and streamlines BHP’s governance and internal processes.

“From an overarching standpoint, it will mean shareholders will have a company with a corporate structure that is ‘fit-for-purpose’ – to support the BHP we are today and our exciting future,” chairperson Ken MacKenzie told shareholders.

“In addition, shareholders will be able to buy the same BHP shares around the world via BHP Group’s listings on the Australian, London and Johannesburg stock exchanges as well as our NYSE-listed ADR program.

“We believe these benefits are significant for our future, underpin our strategy and support long-term shareholder value creation.”

MacKenzie told shareholders that the one-off unification cost is expected to range between $350-million and $450-million dollars.

Edited by Creamer Media Reporter

Comments

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:3.272 3.366s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: