17 April 2023
BHP is pleased to announce that the Federal Court of Australia (the Court) today made orders approving the scheme of arrangement for BHP Lonsdale Investments Pty Limited, a wholly owned subsidiary of BHP Group Limited, to acquire 100% of the shares in OZL (the Scheme).
It is expected that the Scheme will become effective on 18 April 2023 on lodgement of the Court’s orders with the Australian Securities and Investment Commission and OZL shares will be suspended from trading on the ASX from the close of trading on that day.
The Scheme is expected to be implemented on 2 May 2023.
OZL’s shareholders will be paid total cash consideration of A$28.25 per OZL share, comprising:
- the scheme consideration paid by BHP of A$26.50 for each OZL share held at the scheme record date, which is 7:00pm on 24 April 2023; and
- a fully franked special dividend paid by OZL of A$1.75 for each OZL share held on the special dividend record date, which is 7:00pm on 21 April 2023.
The cash payment by BHP will be funded using a combination of BHP’s existing cash reserves and the proceeds of a debt facility.