LNG giant Shell has officially removed “Royal Dutch” from its name, as part of plans to ditch the company’s dual share structure and move its headquarters from the Netherlands to Britain.
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.
It held its first board meeting in London on December 31.
“Shell announced the board’s decision to change its name to Shell plc on December 20, 2021. This change has now taken effect,” the firm said in a statement on Friday.
The firm said it expects that Euronext Amsterdam and the London Stock Exchange would reflect the change of name on January 25, while the New York Stock Exchange would follow on January 31.
Shell added that shareholders should note that the name change would not affect their shareholdings
Also, the firm said that shareholders should retain existing share certificates as they would remain valid for all purposes.
“The ISINs, SEDOLs, CUSIPs and ticker symbols of the company’s A shares and B shares and A ADSs and B ADSs will remain unchanged for the time being but will change in accordance with the remaining steps of the amplification,” Shell said.