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Shell may ditch retirement at 60

Daily Mail: Shell may ditch retirement at 60

Posted 21 May 2005

SHELL might scrap one of its most hallowed privileges -retirement at 60 – for its Dutch staff. From 2006, it proposes a change to 65 for its Dutch bosses, including chief executive Jeroen van der Veer. It says this is driven by Dutch law. Implications for the UK are unclear.

Shell set out the change in its plan to combine its UK and Dutch arms into one company, Royal Dutch Shell, by July 20.

UK investors will get fewer shares, but these will have a higher value. A holder of 1,000 Shell Transport will get 287 B shares in RDS. With Shell now at 473p, this suggests the new B shares could start at 1646p. Dividends will be in sterling, with an option of euros.

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