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Shell News Archive Monday 14 November 2005

Nov 14th, 2005
by John Donovan.
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From our Shell News Archive Monday 14 November 2005

Daily Telegraph: Shell urged to help pay investors’ tax bills: “Lord Oxburgh of Liverpool, the former chairman of Shell, has called on the oil and gas giant to compensate British investors left with a multi-million pound tax bill from its restructuring.”: The vast majority of the 3,000 Royal Dutch holders accepted the deal after Jeroen van der Veer, Shell’s chief executive, warned his “toolbox” to help them was empty. But a small minority held out and were rewarded in late September when Shell offered a tax-efficient loan note alternative. The shareholders who originally accepted – and have been left with a large tax bill – are now considering legal action against Shell.”: Monday 14 November 2005: READ read more

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Fidelity shows Shell how giants can care for small investors

Sep 24th, 2005
by John Donovan.
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Daily Telegraph: Fidelity shows Shell how giants can care for small investors

“Any complacency about rising standards in the City would, however, be misplaced. Shell’s half-hearted climbdown this week demonstrates that many boardroom fat cats continue to regard individual shareholders with disdain.”

(Filed: 24/09/2005)

By Ian Cowie, Personal Finance Editor

Small investors are often treated shabbily by big institutions but, as our award-winning consumer champion Jessica Gorst-Williams observes, “sometimes the power of the press can help.” Her painstaking work reminds us that there is more to journalism than persecuting drug-addled pop stars and their model girlfriends.

Any complacency about rising standards in the City would, however, be misplaced. Shell’s half-hearted climbdown this week demonstrates that many boardroom fat cats continue to regard individual shareholders with disdain. read more

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Shell finally does the decent thing

Sep 24th, 2005
by John Donovan.
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Daily Telegraph: Shell finally does the decent thing

“Shell performed an embarrassing U-turn this week and offered new tax-free merger terms to British investors in Royal Dutch Petroleum who were refusing to agree to the unification with Shell Transport & Trading. However, Shell is risking the wrath of British shareholders in Royal Dutch who accepted the terms of the deal”: (Filed: 24/09/2005)

The petroleum giant finally does the decent thing over punitive merger terms, reports Christopher Hope

Shell performed an embarrassing U-turn this week and offered new tax-free merger terms to British investors in Royal Dutch Petroleum who were refusing to agree to the unification with Shell Transport & Trading.

However, Shell is risking the wrath of British shareholders in Royal Dutch who accepted the terms of the deal and have been left with a multi-million pound tax bill. Shell said it believed it was not “appropriate” to compensate them. read more

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Shelling out at last

Sep 21st, 2005
by John Donovan.
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The Times: Shelling out at last

“SHELL’S chief executive, Jeroen van der Veer, should be after the head of whoever was responsible for making him look mean and insensitive when, it now transpires, this could have been avoided.”

Wednesday 21 September 2005

SHELL’S chief executive, Jeroen van der Veer, should be after the head of whoever was responsible for making him look mean and insensitive when, it now transpires, this could have been avoided.

For months Shell contended that it could do nothing to help UK investors in Royal Dutch who were to be saddled with extra tax bills because of the group’s restructuring.

Now, after the majority had accepted their unhappy fate, a remedy has been found. This-is good news for the few who held out, but not good enough for a business that should have its share of clever accountants. read more

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At last Shell oil – but only for the squeaky wheels

Sep 21st, 2005
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Daily Telegraph: At last Shell oil – but only for the squeaky wheels

“…the treatment of the British Royal Dutch holders is one of Shell’s more disappointing episodes and an unwelcome throwback to its old reputation for corporate arrogance.”

Wednesday 21 Sept 2005

Finally some common sense is seeping out from the Shell lubyanka over the fate of British holders in Royal Dutch Petroleum. These were the unfortunate shareholders who were landed with a big tax bill after the oil and gas giant restructured.

Unfortunately, Shell’s tax-free solution comes too late for those unlucky souls who accepted the deal during the summer. Its loan note alternative only helps the noisy minority of Royal Dutch refuseniks who were rich and/or stubborn enough to hold out against the corporate might of Shell. The rest – mostly smaller investors who accepted under threat of a “Dutch squeeze-out” – get nothing. read more

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Daily Mail: Shell’s pain is Cairn Energy’s gain

Sep 21st, 2005
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Daily Mail: Shell’s pain is Cairn Energy’s gain

“Canny Scottish operator Cairn bought the Indian fields three years ago for just £4m – from Shell.”

Wednesday 21 Sept 2005

By Ruth Sunderland

SHELL has been forced into a climb down following a row with 400 rebel private investors over the unification of its British and Dutch arms.

The dissident small shareholders had refused an offer from Shell to sell their shares in its former Dutch parent company because it would have landed them with 40pc capital gains tax bills.

The company will now offer a loan note to the rebels which can be exchanged for new shares -therefore avoiding a tax charge.

The UK side of Shell was united with its Netherlands counterpart this summer in a bid to improve transparency in the wake of last year’s oil reserves scandal. read more

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Royal Dutch Shell offers way out of £77m tax bill

Sep 21st, 2005
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The Times: Royal Dutch Shell offers way out of £77m tax bill

“ROYAL DUTCH SHELL, the newly unified oil and gas group, has moved to appease a small group of disgruntled British shareholders by proposing a way to avoid a £77 million tax bill.”

Wednesday 21 Sept 2005

By Peter Klinger

ROYAL DUTCH SHELL, the newly unified oil and gas group, has moved to appease a small group of disgruntled British shareholders by proposing a way to avoid a £77 million tax bill.

The Anglo-Dutch group said yesterday that it would buy out remaining shareholders in its Royal Dutch arm either with cash or by issuing a loan note. The loan note, particularly applicable to British-based owners of Royal Dutch shares, could be exchanged for new “A” shares in the company without incurring capital gains tax. read more

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Shell offers way out of tax glitch

Sep 21st, 2005
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Financial Times: Shell offers way out of tax glitch

“Royal Dutch Shell has belatedly found a solution to a problem that had created an immediate capital gains tax liability for some of its UK private shareholders.”: “There would be no compensation for shareholders who had already tendered their shares, Shell said.”

Wednesday 21 Sept 2005

By Clay Harris

Published: September 21 2005

Royal Dutch Shell has belatedly found a solution to a problem that had created an immediate capital gains tax liability for some of its UK private shareholders.

UK holders of Royal Dutch, one of the predecessor companies to the unified oil and gas group that was created in July, will now be offered a loan note alternative to the share exchange that was the basis of the original transaction.

That will allow any CGT liability to be deferred, although it comes too late for any investors who have already accepted the original offer. read more

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Shell offers investors deal to avert tax threat

Sep 21st, 2005
by John Donovan.
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The Independent: Shell offers investors deal to avert tax threat

“The oil giant, Royal Dutch Shell, backed down yesterday in the face of protests…”: “However, the company was still criticised for coming up with the scheme too late to help hundreds of Royal Dutch shareholders who have already agreed to swap their old shares for ones in the new unified company, thereby triggering tax demands averaging £27,000.”

Wednesday 21 Sept 2005

By Michael Harrison, Business Editor

Published: 21 September 2005

The oil giant, Royal Dutch Shell, backed down yesterday in the face of protests over its financial unification from a group of UK private investors by announcing a new arrangement which will avoid them incurring tax bills running into tens of thousands of pounds.

However, the company was still criticised for coming up with the scheme too late to help hundreds of Royal Dutch shareholders who have already agreed to swap their old shares for ones in the new unified company, thereby triggering tax demands averaging £27,000. read more

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

Shell tries ‘getting to know you’ ploy to woo rebels

Aug 17th, 2005
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Daily Telegraph: Shell tries ‘getting to know you’ ploy to woo rebels

“The news comes after a number of high-profile City names emerged last week to vent their anger about the shake-up, which will leave them with a multi-million pound tax bill.”

Wednesday 17 August 2005

By Christopher Hope (Filed: 17/08/2005)

Shell has asked for rebel investors in Royal Dutch Petroleum to provide details of their “characteristics” as the oil and gas giant seeks to tidy up its multi-billion pound restructuring.

The news comes after a number of high-profile City names emerged last week to vent their anger about the shake-up, which will leave them with a multi-million pound tax bill.

The Anglo-Dutch company is seeking ways to persuade a stubborn rump controlling 1.3pc of the shares to accept the terms of the merger with Shell Transport and Trading to create Royal Dutch Shell. read more

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TAXING QUESTIONS ARISING FROM ROYAL DUTCH SHELL MERGER

Aug 17th, 2005
by John Donovan.
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TAXING QUESTIONS ARISING FROM ROYAL DUTCH SHELL MERGER

POSTED 17 AUGUST 2005: 11.45 ET

TAXING QUESTIONS ARISING FROM ROYAL DUTCH SHELL MERGER: Open Letter to Royal Dutch Shell shareholders from Association of Private Client Investment Managers and Stockbrokers

Association of Private Client

Investment Managers and Stockbrokers

London Office

114 Middlesex Street

London El 7JH

Tel. +44 (0) 20 7247 7080

Fax: +44 (0) 20 7377 0939

Email: [email protected]

5th July 2005

Letter to Royal Dutch Shell Shareholders

Dear Shareholder

Shell Reconstruction and Royal Dutch Shell Shareholders read more

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Daily Telegraph: Shell ready to go to court over rump shareholding

Jul 20th, 2005
by John Donovan.
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Daily Telegraph: Shell ready to go to court over rump shareholding

“More than 8pc of investors in Royal Dutch Petroleum have failed to accept the terms of the merger with Shell Transport and Trading to create a £100billion oil and gas giant called Royal Dutch Shell.”

Wednesday 20 July 2005

By Christopher Hope, Business Correspondent (Filed: 20/07/2005)

More than 8pc of investors in Royal Dutch Petroleum have failed to accept the terms of the merger with Shell Transport and Trading to create a £100billion oil and gas giant called Royal Dutch Shell.

However, enough shareholders – 91.7pc – in Royal Dutch Petroleum have backed the deal to ensure that the merger will go through today.

The deal, which was brought about after the company wrongly categorised over a fifth of its proven oil and gas, has been criticised in the UK after it left about 3,000 British shareholders facing a £77m capital gains tax bill. This is because the Inland Revenue treats the share swap as a disposal. read more

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Daily Telegraph: Shell paves way for merger

Jul 9th, 2005
by John Donovan.
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Daily Telegraph: Shell paves way for merger

“Shell, which is trying to merge its UK and Dutch parts, has slashed the level of acceptances for shareholders in Royal Dutch Petroleum in an attempt to get the deal done.”

Saturday 9 July 2005

By Christopher Hope (Filed: 09/07/2005)

Shell, which is trying to merge its UK and Dutch parts, has slashed the level of acceptances for shareholders in Royal Dutch Petroleum in an attempt to get the deal done.

The news comes after the Anglo-Dutch oil and gas giant was criticised by British holders of Royal Dutch stock who are facing the possibility of a £77m capital gains tax bill because of the multi-billion merger with Shell Transport and Trading into a single company called Royal Dutch Shell. read more

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