Shell ditches Royal Dutch, changes name

LONDON, Jan 21, Reuters -- Shell ditched Royal Dutch, which has been part of its identity since 1907, following plans to drop its dual share structure and move its head office from the Netherlands to Britain.

Shell's name was changed to Shell plc on December 20, 2021, the Board announced on December 20th, 2021. The change has now taken effect, Shell said in a filing.

The change will not affect share ownership and the A shares and B shares will remain the same for the time being, according to Shell.

On January 29th, the shares are planned to be assimilated into a single line of ordinary shares.

In November Shell announced it would drop its dual share structure and move its head office from The Hague to London, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.

The firm has been involved 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. In 2005, Shell introduced the two-class share structure after a previous corporate overhaul.

Shell held its first board meeting in London on December 31.