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Royal Dutch says to restructure subsidiaries

Reuters: Royal Dutch says to restructure subsidiaries

“The firm said the restructuring would require an extraordinary general meeting of shareholders and should be completed by the end of the year.”

Tuesday 20 Sept 2005

LONDON, Sept 20 (Reuters) – Oil major Royal Dutch Shell (RDSa.L: Quote, Profile, Research) said on Tuesday it was restructuring some subsidiary companies following the unification of its UK and Dutch arms.

As part of the restructuring, Royal Dutch will be merged into a subsidiary, Shell Petroleum NV, and the remaining shareholders in Royal Dutch will receive cash or, for UK resident shareholders if they prefer, loan notes exchangeable into Royal Dutch A shares.

The firm said the restructuring would require an extraordinary general meeting of shareholders and should be completed by the end of the year.

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