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The board of Royal Dutch Shell plc has today decided to proceed with its proposal to move its headquarters to the UK – from the Netherlands – and simplify the company’s structure.

As a result, the board has also decided to change the company’s name to Shell plc which will be implemented in January 2022, with a further announcement to be made at the time.

Today’s decisions follow the completion of the consultation with the Centrale Ondernemingsraad van Shell Nederland (Central Staff Council of Shell Netherlands) and the Shell European Works Council, and come after a December 10, 2021 shareholder vote giving the board overwhelming approval for the necessary amendments to the company’s Articles of Association, which have been adopted with immediate effect.

As described in a circular published on November 15, 2021, Shell intends to change its share structure to establish a single line of shares, which is simpler for investors to understand and value. The company will also align its tax residence with its country of incorporation in the UK, and this will involve relocating board and executive committee meetings, and the CEO and CFO, to the UK.

At the time of the announcement Shell’s chair, Sir Andrew Mackenzie, said: “The simplification will normalise our share structure under the tax and legal jurisdictions of a single country and make us more competitive. As a result, Shell will be better positioned to seize opportunities and play a leading role in the energy transition.”

Shell has been incorporated in the UK with Dutch tax residence and a dual share structure since the 2005 unification of Koninklijke Nederlandsche Petroleum Maatschappij and The Shell Transport and Trading Company under a single parent company. The company said it was not envisaged at the time of unification that the current A/B share structure would be permanent.

The company has stressed it is proud of its Anglo-Dutch heritage and it will continue to be a significant employer with a major presence in the Netherlands. Its Projects and Technology division, global Upstream and Integrated Gas businesses and renewable energies hub remain located in The Hague.