(Adds details, background)
By Ron Bousso
LONDON, Jan 21 (Reuters) - 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 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.
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.
(Reporting by Ron Bousso
Editing by Chris Reese and David Evans)
