LNG giant Shell starts trading under simplified structure

LNG giant Shell has started trading with a single line of shares, completing its simplifaction process which included moving its headquarters from the Netherlands to Britain.

Last month, Shell officially removed “Royal Dutch” from its name, as part of plans to ditch the company’s dual share structure.

Shell revealed these plans in November saying the move would simplify the company’s share structure to increase the speed and flexibility of capital and portfolio actions.

The company’s new shares started their dealings on the Euronext Amsterdam, the London Stock Exchange, and the New York Stock Exchange on Monday.

Shell said the assimilation has not altered the total number of shares held by any shareholder or ADSs held by any ADS holder.

Chief executive Ben van Beurden said in a statement that a simpler structure would, “enable us to speed up the delivery of our Powering Progress strategy while creating value for our shareholders, customers, and wider society.”

“We are working on the biggest societal and technological changes of modern times. This year will be another pivotal year in our transformation. And we are ready to take on the challenge,” he said.

- Advertisements -

Most Popular

DSME cancels third LNG carrier order linked to Sovcomflot

South Korean shipbuilding giant Daewoo Shipbuilding and Marine Engineering has terminated an order for another LNG carrier after a...

Woodside delivers Australian LNG cargo to Germany’s Uniper via Dutch Gate terminal

LNG player Woodside said it had delivered an LNG cargo from its North West Shelf project in Australia to...

QatarEnergy, ConocoPhillips ink long-term LNG deal to supply Germany

State-owned QatarEnergy has signed two long-term contracts with US energy firm ConocoPhillips to supply Germany with liquefied natural gas...

More News Like This

Shell to purchase Danish biogas producer Nature Energy for about $2 billion

LNG giant Shell said it would buy 100 percent shareholding of Denmark-based biogas producer Nature Energy Biogas for nearly...

GSI delivers another LNG-fueled tanker to Bocomm Leasing

China’s Bank of Communications Financial Leasing Co (Bocomm Leasing) has taken delivery of another LNG-powered tanker which will go...

Croatia’s Krk LNG terminal gets 47th shipment

Croatia's FSRU-based Krk LNG import facility, operated by state-owned LNG Croatia, has received the 47th LNG cargo since January...

DSIC kicks of work on LNG-powered CO2 carriers for Northern Lights JV

China’s Dalian Shipbuilding Industry (DSIC) has started building two LNG-powered CO2 carriers for Norway’s Northern Lights, a joint venture...