Key takeaways from the Shell restructuring plan

Nov 15 (Reuters) - Royal Dutch Shell will simplify
its business by scrapping its dual share structure and change
its name to Shell Plc, the company said on Monday, also shifting
its tax residence to Britain from the Netherlands.

** Shareholders will vote on Dec. 10 to eliminate "the
complexity" of Shell's A/B share structure https://www.shell.com/investors/simplified-share-structure.html,
and also decide on moving its tax residence to the UK, where it
will hold key meetings and its CEO and CFO will be located. The
company expects a Dutch income tax exit charge of up to $0.4
billion.

** The energy giant expects to drop "Royal Dutch" from its
name and rebrand to Shell Plc, adding the change is because the
company anticipates it will no longer meet the conditions for
using that honorary designation following the proposed changes.

** The moves come weeks after hedge fund Third Point
disclosed a large stake in Shell, calling on it to split into
multiple companies to increase its performance and market value.
Shell hit back saying it was better together.

** Chair Andrew Mackenzie said the board was recommending
shareholders vote in favour of the proposals so the company
would be "better positioned to seize opportunities and play a
leading role in the energy transition".

** Shell will retain listings in Amsterdam, London and New
York, and key hubs in The Hague would stay and the Netherlands
would remain important to its energy transition activities.

** Shell, which had the dual share structure in place since
2005 after the merger of Koninklijke Nederlandsche Petroleum
Maatschappij and The Shell Transport and Trading Company, would
need at least 75% of votes in its favour to implement the new
plans.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Kirsten
Donovan
Editing by Keith Weir)