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Shell shareholders vote to delist from Netherlands

yahoo!finance

Shell shareholders vote to delist from Netherlands

: Fri, December 10, 2021, 3:20 PM Shareholders in oil giant Shell (RDSB.L) have overwhelmingly voted to switch its headquarters from the Netherlands to the UK, ending the company’s dual share structure, and drop “Royal Dutch” from the name.

The move, planned for early 2022, “will enable a simplification of the company’s share structure and an increase in the speed and flexibility of capital and portfolio actions”, said Shell’s chair Sir Andrew Mackenzie said.

He said the board believes “the simplification will strengthen Shell’s competitiveness and accelerate both shareholder distributions and delivery of its strategy to become a net-zero emissions energy business by 2050”. read more

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Royal Dutch Shell shareholders back plan to shift to London

REUTERS

Royal Dutch Shell shareholders back plan to shift to London

By Toby Sterling and Ron Bousso: December 10, 2021: 11:34 AM GMT

  • British tax base seen making buybacks, dividends easier

  • Dutch withholding tax a factor in Shell’s decision

  • Shell says move will not affect its environmental policy

ROTTERDAM/LONDON, Dec 10 (Reuters) – Royal Dutch Shell PLC (RDSa.L) shareholders voted overwhelmingly on Friday in favour of a plan to end the company’s dual share structure and move its headquarters to London from The Hague.

With roughly 58% of outstanding shares cast, a preliminary tally showed 99% of shareholders supported a special resolution enabling the corporate structure change. read more

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Op-Ed: Will Shell’s oil future outlast its ocean namesakes?

Los Angeles Times

Op-Ed: Will Shell’s oil future outlast its ocean namesakes?

CYNTHIA BARNETT

When Royal Dutch Shell’s new chairman, Andrew Mackenzie, asks shareholders on Friday for their vote to move the global oil giant’s headquarters from the Netherlands to Britain and drop the “Royal Dutch,” he will also be asking to return the company home.

In a history better suited to fairy tales than the financial pages, Shell rose from a small seashell shop in the East End of London. In the 1830s, a Jewish curio seller named Marcus Samuel began importing tropical seashells from the Far East. His shop sold “small Shells for Ladies’ work,” along with large, shining specimens such as conchs and nautiluses for still-life drawing. read more

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Shell turns its back on Royal Dutch heritage after climate ruling and dividend tax

The Telegraph

Shell turns its back on Royal Dutch heritage after climate ruling and dividend tax

Shell’s jumping ship to the UK bids farewell to over 130 years of association with the Dutch monarchy

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Shell wants to move headquarters amid cleaner energy shift

The Washington Post

Shell wants to move headquarters amid cleaner energy shift

By Associated Press: Today at 6:58 a.m. EST LONDON — Royal Dutch Shell proposed moving its headquarters from the Netherlands to the United Kingdom and streamlining its structure Monday in hopes of making it easier to move forward in a world transitioning away from a dependence on fossil fuels.

The company, which has been incorporated in the U.K. with Dutch tax residency and dual class shares since 2005, said it wanted to move to a more conventional structure to be able to make the company more competitive as it seeks to meet the challenges of shifting toward cleaner energy.

Dutch officials said they were “unpleasantly surprised” by the move.

“The government deeply regrets that Shell wants to move its head office to the United Kingdom,” Dutch Economic Affairs and Climate Minister Stef Blok said. “We are in talks with the top of Shell about the implications of this move for jobs, critical investment decisions and sustainability.” read more

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Dutch government ‘unpleasantly surprised’ by Shell’s plans

CNBC

Shell ditches the Dutch, moves to London in share structure overhaul

PUBLISHED MON, NOV 15 20212:30 AM  KEY POINTS
  • Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.
  • The Anglo-Dutch firm has been in a long-running tussle with the Dutch authorities over the country’s 15% dividend withholding tax, which Shell sought to avoid paying with its two share classes. Its new structure would resolve that issue.
  • The Dutch government said on Monday it was “unpleasantly surprised” by Shell’s plans to move to London from The Hague.

Royal Dutch Shell said on Monday it would scrap its dual share structure and move its head office to Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.

The company, which long faced questions from investors about its dual structure and had recently been hit by a Dutch court order over its climate targets, aims to drop “Royal Dutch” from its name – part of its identity since 1907 – to become Shell Plc. read more

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Notice of General Meeting – Shell seeks Shareholder approval to change articles to implement a simplified structure

Notice of General Meeting – Shell seeks Shareholder approval to change articles to implement a simplified structure

Nov 15, 2021

Today, Royal Dutch Shell plc (“Shell”) posted a circular which includes the notice of its GM (the “Circular” and the “Notice”), which can be viewed and downloaded from www.shell.com/gm. The Notice states that the GM is scheduled to be held at Rotterdam Ahoy, Ahoyweg 10, 3084 BA Rotterdam, the Netherlands at 10:00 (Dutch time) on Friday December 10, 2021.

  • Shareholders are asked to vote on a special resolution to amend the Royal Dutch Shell plc Articles of Association to allow the simplification of the company’s structure
  • Virtual and physical attendance and participation enabled for the General Meeting (“GM”)
  • Shareholders encouraged to submit their proxies in advance of the GM, but voting is enabled during the meeting

Shell proposes simplified structure

  • Proposal will establish a single line of shares to eliminate the complexity of Shell’s A/B share structure.
  • Proposal will also align Shell’s tax residence with its country of incorporation in the UK, where it will hold Board and Executive Committee meetings, and locate its chief executive and chief financial officer.

THE HAGUE, November 15, 2021

The Board of Royal Dutch Shell plc (Shell) today announced a proposal to simplify the company’s share structure to increase the speed and flexibility of capital and portfolio actions. The simplification is designed to strengthen Shell’s competitiveness and accelerate both shareholder distributions and the delivery of its strategy to become a net-zero emissions business. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

INSTANT VIEW 2-Reaction to Shell scrapping dual share structure

INSTANT VIEW 2-Reaction to Shell scrapping dual share structure by Reuters Monday, 15 November 2021 08:45 GMT

LONDON, Nov 15 (Reuters) – Royal Dutch Shell will scrap its dual share system in favour of a single class of shares to boost shareholder payouts and simplify its structure, it said on Monday.

MARKET REACTION: Shares in Royal Dutch Shell rose 1.8% in early European trade after the announcement.

COMMENTS:

ANALYSTS AT JEFFERIES

“We see merits in the proposed restructuring of Shell’s shares structure and tax residence. Among other benefits, the proposed changes will increase Shell’s ability to buy back shares which was until now constrained by Class B shares liquidity. read more

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Shell to ditch ‘Royal Dutch’ name and dual-share structure amid activist pressure

Shell to ditch ‘Royal Dutch’ name and dual-share structure amid activist pressure

NICHOLAS EARL

Nicholas Earl is a sports and business contributor.

Royal Dutch Shell will dump its dual-share structure, change its name, and move its tax residence from the Netherlands to the UK.

The oil group argues the moves will boost its competitiveness.

It will now offer a single line of shares, which it considers simpler for investors to understand and value.

Alongside moving its tax residence, Shell will establish its CEO, CFO and board meetings in the country. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Andrew Mackenzie named new Shell chairman

Andrew Mackenzie named new Shell chairman

Amanda Jordan: March 11, 2021

Royal Dutch Shell announced the appointment of Andrew Mackenzie as chairman with effect from the conclusion of the annual general meeting on May 18.

Mr Mackenzie will succeed Chad Holliday, who will step down the same day having served as chairman for six years, Shell said Thursday in a statement.

Mr Mackenzie, a British national, joined Shell’s board in October after a career in the energy, petrochemicals and resources sector, latterly as chief executive officer of mining giant BHP from 2013 to 2019. read more

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Shell CEO takes pay cut in 2020 for the second straight year

Shell CEO takes pay cut in 2020 for the second straight year

By Reuters Staff: MARCH 11, 2021: 8.30 am

March 11 (Reuters) – Royal Dutch Shell’s Chief Executive Ben van Beurden pay package nearly halved in 2020, a year in which the oil major’s profit tumbled because of low oil prices and the COVID-19 pandemic.

Van Beurden, who became CEO in 2014, oversaw sharp growth in Shell’s oil and gas output following the 2016 acquisition of BG Group for $53 billion.

But an unprecedented hit to the energy sector last year, knocked oil prices into negative territory for the first time in history, and forced major players to cut dividend payouts and management pay to weather the storm. read more

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APPOINTMENT OF NEW CHAIR AND OTHER BOARD AND COMMITTEE CHANGES AT ROYAL DUTCH SHELL PLC

APPOINTMENT OF NEW CHAIR AND OTHER BOARD AND COMMITTEE CHANGES AT ROYAL DUTCH SHELL PLC

Source: Shell International B.V.

ROYAL DUTCH SHELL

APPOINTMENT OF NEW CHAIR AND OTHER BOARD AND COMMITTEE CHANGES

CHAIR ANNOUNCEMENT

The Board of Directors of Royal Dutch Shell plc (the “Company”) has announced the appointment of Sir Andrew Mackenzie as the new Company Chair with effect from the conclusion of Shell’s 2021 Annual General Meeting, scheduled for May 18, 2021. Andrew will succeed Chad Holliday who will step down on May 18 having served as Chair for six years and as a Board Director since September 2010. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.