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Shell proposes single-share structure, tax residence in UK -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Royal Dutch Shell’s logo is displayed during the launch of a new hydrogen electrolysis facility at Shell’s Rhineland refinery near Cologne on July 2, 2021. REUTERS/Thilo Schmuelgen

(Reuters) – Shell, the oil major (LON) is scrapping its dual-share structure and will instead keep a single-line of shares. This move comes as Shell seeks to increase shareholder payouts via stock buybacks and simplifies its investor structure.

It also stated that the company plans to relocate its tax residence from the Netherlands to the United Kingdom.

Shell explained that simplifications were made to improve Shell’s competitiveness, accelerate shareholder distributions, and help deliver Shell’s plan to become an emission-free business.

The company stated that the current share structure was complex and could not sustain itself in the long-term.

Shell Plc is expected to be changed to the new company name from Royal Dutch Shell Plc.

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