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Shell says could lower minimum share exchange acceptances from 95 pct to 75 pct

Forbes.com: Shell says could lower minimum share exchange acceptances from 95 pct to 75 pct

“The Royal Dutch Shell group of companies said they reserve the right to lower the minimum acceptance level for the share exchange that creates the unified Royal Dutch Shell PLC from 95 pct to as low as 75 pct.”

Friday 8 July 2005

LONDON (AFX) – The Royal Dutch Shell group of companies said they reserve the right to lower the minimum acceptance level for the share exchange that creates the unified Royal Dutch Shell PLC from 95 pct to as low as 75 pct.

Shareholders of both Royal Dutch Petroleum Co NV and Shell Transport and Trading Co PLC have already approved the move by overwhelming majorities.

The group said today’s announcement is not an indication of the current level of acceptances on the exchange offer and does not mean the minimum acceptance level will actually be reduced.

‘Any such reduction will only be made on or after 18 July 2005’ when the existing offer closes, the group said in a statement, adding: ‘This announcement is made in order to comply with US regulatory requirements.’

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