Shell to shake up share structure

Shell to shake up share structure

London, 15 November (Argus) — Shell expects to drop the words "Royal Dutch" from its name to become "Shell Plc" as it seeks to ditch its dual share structure and move its tax residence to the UK from the Netherlands.

The firm expects the simplification of its share structure — which is subject to shareholder approval — to "accelerate both shareholder distributions and the delivery of its strategy to become a net-zero emissions business".

Shell is currently incorporated in the UK but has a Dutch tax residence and two classes of shares. Shell established this structure in 2005 with the merger of Royal Dutch and Shell Transport, which took place in an attempt to close the chapter on multiple oil and gas reserves recategorisations a year earlier.