Shell Proposes Single-Share Structure, UK Tax Residence
November 15 2021 - 3:36AM
Dow Jones News
By Jaime Llinares Taboada
Royal Dutch Shell PLC on Monday proposed to shareholders to
establish a single line of shares and to move its tax residency to
the U.K.
The energy company has been incorporated in the U.K. with Dutch
tax residence and an A/B dual share structure since its unification
in 2005.
Shell is now asking shareholders to approve the simplification
of the company's structure at a general meeting to be held on Dec.
10 in Rotterdam.
The company said that a single-share structure will allow it to
accelerate share buybacks programs, to manage its portfolio with
greater agility, and to reduce risk for shareholders.
In addition, Shell expects to change its name to Shell PLC as it
will no longer meet the conditions for using the "Royal"
designation, it said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
November 15, 2021 03:21 ET (08:21 GMT)
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