Shell to Proceed With Share Simplification; Will Change Name in January
20 Dezembro 2021 - 11:44AM
Dow Jones News
By Joe Hoppe
Royal Dutch Shell PLC said Monday that it has decided to proceed
with simplifying its share structure, shifting its tax residence to
the U.K., and it will change its name to Shell PLC in January.
The energy company said it expects to change its name in the
week beginning Jan. 24.
Shareholders in the company approved the amendment of the
group's articles of association on Dec. 10, after Shell proposed in
November to collapse its current dual-share class and move its tax
residency to the U.K. from the Netherlands.
Since its unification in 2005, the oil-and-gas company has been
incorporated in the U.K. with Dutch tax residence and an A/B dual
share structure.
"The board believes that 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, in step with society," Chairman
Andrew Mackenzie said previously.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
December 20, 2021 09:29 ET (14:29 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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