BHP Billiton Limited (BHP) Buy-Back: Tender opens 19 November 2018

On Thursday 1 November 2018, BHP Billiton (BHP) announced plans to return US$10.4 billion to its shareholders through the combination of an off-market buy-back and a special dividend. It is due to open for tender on Monday 19 November 2018 and close on Friday 14 December 2018 (5pm AEDT). The program targets an off-market buy-back of US$5.2 billion (A$7.3 billion) under which BHP can buy back shares at up to a 14% discount. BHP intends to pay the balance of the net proceeds from the sale of its Onshore US assets to all shareholders in the form of a special dividend.

BHP has sent an information booklet about the buy-back to all eligible shareholders from Thursday 8 November 2018. Shareholders should read all of the information in the Buy-Back Booklet before deciding whether to participate in the Off-Market Buy-Back.

How to accept the offer

Eligible shareholders who wish to participate in the buy-back will be able to submit their acceptance from Monday 19 November 2018 through one of the following options:

  1. The preferred and most efficient method for all shareholders is to accept the offer through the BHP Billiton online buyback portal before 5pm AEDT 14 December 2018
  2. Alternatively, you can contact us by phone or email before 5:00pm AEDT 12 December 2018, or by post (must be received before 12 December 2018)

If you have BHP shares currently lodged as collateral for your Exchange Traded Option positions, you would need to contact ourselves to recall the stock before accepting the buyback offer.

Please be aware that you will be required to provide other stock or cash collateral to cover your Option positions.

Buy-Back tender timetable*:

Event Date
Shares quoted ex-entitlement to participate in the Off-Market Buy-Back Monday 5 November 2018
Buy-Back record date: determination of eligible BHP Billiton Limited shareholders entitled to participate in the Off-Market Buy-Back Wednesday 7 November 2018
Expected completion of mail out of Off-Market Buy-Back information flyer to eligible shareholders Thursday 15 November 2018
Off-Market Buy-Back tender period opens Monday 19 November 2018
Off-Market Buy-Back tender period closes Friday 14 December 2018 Tenders must be received by the Registry no later than 5pm (AEDT)
Announcement of Buy-Back price and any scale-back Monday 17 December 2018
Special Dividend determined and announced Monday 17 December 2018
Completion of Off-Market Buy-Back proceeds dispatch/crediting to successful BHP Billiton Limited shareholders Monday 24 December 2018

*Please refer to the Off-Market Buy-Back booklet for the full timetable.

Further information

If you have any enquiries regarding the Off-Market Buy-Back, please contact the dedicated enquiry line on 1300 366 363 (within Australia) or +61 3 9415 4020 (from outside Australia).

This content is for information purposes only and should not be considered as a recommendation to buy, sell, hold or participate in the BHP Billiton Limited Buy-Back offer. We accept no responsibility, or liability for any inaccuracies contained in this notice.

Published: 15 November 2018