(Bloomberg) Royal Dutch Shell Plc. will terminate its dual share structure, creating a single line of shares in a restructuring move the company expects to make it competitive.
Upon restructuring, Shell will shift its tax residence from the Netherlands to the UK and erase “Dutch” from its name.
The company expects to seize market opportunities and play a central role in the energy transition in the restructuring plan.
Shell, incorporated in the UK, has a tax residence in the Dutch and a dual share structure since 2005.
Investors are now expected to vote on the proposed restructuring, with a meeting expected on December 10 in Rotterdam. Shell chair Andrew MacKenzie says he has unanimous support of the board and believes the benefits of the simplification outweighs the costs.
RDSA: AMS is up +2.18%.
