Shell PLC (NYSE:SHEL)

$ 73.55 0.92 (1.27%) Market Cap: 231.89 Bil Enterprise Value: 270.73 Bil PE Ratio: 13.49 PB Ratio: 1.27 GF Score: 78/100

Royal Dutch Shell PLC Shareholder Engagement Session (Part 1) Transcript

Nov 15, 2021 / 02:00PM GMT

Release Date Price: $45.28 (+2.51%)

Transcript

Andrew Mackenzie

Royal Dutch Shell plc - Independent Chairman of the Board

Hello, everyone. I'm Andrew Mackenzie, I'm Chair of the Board of Royal Dutch Shell. Today, the Board announced a proposal to amend Shell's Articles of Association. This will simplify the company's share structure and bring it in line with other companies so as to increase its capital and portfolio flexibility. The simplification will make Shell more competitive. It will allow for an acceleration in shareholder distributions and speed up Shell's transition to a net 0 emissions energy business.

Under the proposal, Shell intends to change its A/B share structure to a single line of shares, and to change its tax residence to the U.K., which is our country of incorporation. It will hold Board and executive committee meetings in the U.K. and relocate its Chief Executive and Chief Financial Officers there. As a consequence, the Board also proposes to change the company name from Royal Dutch Shell plc to Shell plc.

But some things will remain unchanged. Post simplification, shareholders retain the same legal ownership

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