RDSA Shell Plc

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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