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Farewell Royal Dutch Shell PLC: What are the next steps and approvals that are required?

What are the next steps and approvals that are required?

Changes in the articles are required to move the CEO, CFO, Board and Executive Committee meetings to the UK, which would result in aligning the tax residence and the Company’s country of incorporation in the UK. This is because the current Articles require the Company’s headquarters and certain meetings, including Board meetings, the AGM and other general meetings, to be located in the Netherlands.

The Resolution requires the approval of at least 75 percent of the votes cast (in person or by proxy) at the General Meeting to be passed.

Following approval of the Resolution by Shareholders and completion of the consultation with the Shell Staff Councils, a final Board decision will be taken as to whether and when to proceed with the Simplification.

The Board intends to proceed with the Simplification as soon as reasonably practicable provided that it remains, in the Board’s view, in the best interests of the Company and Shareholders as a whole. In making its final decision, the Board will take into account all relevant factors.

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