Ron Bousso

LONDON, (Reuters) –Shell has officially changed its name. The company dropped “Royal Dutch,” which had been part of the organization’s identity since 1907. This was in response to plans to eliminate its dual share structure, and relocate its headquarters from the Netherlands to Britain.

Shell (LON) has announced that the Board decided to change Shell plc’s name on December 20, 2021. Shell stated in a filing that the change was effective.

London’s and Amsterdam’s stock exchanges will update their names on January 25th, while New York Stock Exchange will do the same on January 31st.

Shell explained that this change will not impact share ownership. The A shares as well as B shares will continue to be the same for now.

The shares are planned https://www.shell.com/media/news-and-media-releases/2021/shell-sets-out-expected-timetable-of-simplification.html to be assimilated into a single line of ordinary shares on Jan. 29.

Shell announced in November https://www.reuters.com/world/uk/shell-proposes-single-share-structure-tax-residence-uk-2021-11-15 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.

Due to the Dutch government’s 15% dividend withholding taxes on its shares, the firm is in a lengthy dispute. International investors are less likely to choose the Dutch-based company. Shell’s 2005 corporate revamp saw the introduction of the two-classes share structure.

Shell hosted its first board meeting at London’s Shell on December 31.