Posted: Sunday, January 23, 2022. 6:08 pm CST.
By Aaron Humes: The former Royal Dutch Shell plc has dropped the “Royal Dutch” from its name, now going only by Shell plc after a board decision on December 20, 2021, according to Reuters.
The change will not affect share ownership and the A shares and B shares will remain unchanged for the time being, Shell said.
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 percent 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.
In Belize Shell products and stations operate under license from SOL Brands Incorporated, located in the Cayman Islands, but there are no plans reported to change their SOL or Shell branding as noted.
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