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MSN Money: Shell Board Defeats Draft Resolution

MSN Money: Shell Board Defeats Draft Resolution

 

Associated Press

May 16, 2006

 

THE HAGUE, Netherlands (AP) – The directors of Royal Dutch Shell board soundly defeated a proposal Tuesday from an environmental group of shareholders to tighten oversight on ecologically risky ventures and enforce closer cooperation with local communities.

 

After a discussion at Shell's annual general meeting that grew heated at times, the proposal was defeated by 93 percent of the vote representing more than three billion shares.

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