Royal Dutch no more - Shell officially changes name
Shell officially changed its name on Friday, ditching "Royal Dutch", which has been part of its identity since 1907, following plans to scrap its dual share structure and move its head office from the Netherlands to Britain.
"Shell announced the Board's decision to change its name to Shell plc on December 20, 2021. This change has now taken effect," Shell said in a filing.
The London and Amsterdam stock exchanges will reflect the name change on Jan. 25 while the New York Stock Exchange will follow on Jan. 31.
The change will not affect share ownership and the A shares and B shares will remain unchanged for the time being, Shell said.
The shares are planned to be assimilated into a single line of ordinary shares on Jan. 29.
Shell announced in November it would scrap its dual share structure and move its head office to London from The Hague, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.
The firm has been in a long-running tussle with the Dutch authorities over the country's 15% dividend withholding tax on some of its shares, making them less attractive for international investors. Shell introduced the two-class share structure in 2005 after a previous corporate overhaul.
Shell held its first board meeting in London on Dec. 31.
The London and Amsterdam stock exchanges will reflect the name change on Jan. 25 while the New York Stock Exchange will follow on Jan. 31.
The change will not affect share ownership and the A shares and B shares will remain unchanged for the time being, Shell said.
The shares are planned to be assimilated into a single line of ordinary shares on Jan. 29.
Shell announced in November it would scrap its dual share structure and move its head office to London from The Hague, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.
The firm has been in a long-running tussle with the Dutch authorities over the country's 15% dividend withholding tax on some of its shares, making them less attractive for international investors. Shell introduced the two-class share structure in 2005 after a previous corporate overhaul.
Shell held its first board meeting in London on Dec. 31.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.