Shell officially changes its name to Shell plc
Shell plc has confirmed its change of name from Royal Dutch Shell plc to Shell plc, which was announced December 20, 2021, has now taken effect.
“Shell announced the board’s decision to change its name to Shell plc on Dec. 20, 2021. This change has now taken effect,” Shell said in a filing.
The company specified that the London Stock Exchange and Amsterdam stock exchanges will reflect the name change on January 25, 2022, while the New York Stock Exchange will follow on Monday January 31, 2022.
However, changing the name will not affect share ownership and existing share certificates should be retained as they will remain valid for all purposes and no new share certificates will be issued as issued by the company.
The ISINs, SEDOLs, CUSIPs and ticker symbols of the company’s A shares and B shares and A ADSs and B ADSs will remain for the time being, but will change in accordance with the remaining steps of the simplification based from the released statement last December 20, 2021.
Last November, Shell revealed its proposal to simplify the company’s structure, as in to scrap its dual share structure, move its head office to London from The Hague, and align its tax residence with its country of incorporation in the UK.
The simplification of the company’s share structure was decided in order to increase the speed and flexibility of capital and portfolio actions, strengthen Shell’s competitiveness and accelerate both shareholder distributions and the delivery of its strategy to become a net-zero emissions business according to the company.
The “Royal Dutch” title was first used in 1907 with the decision to merge Shell Transport and Trading Company with Royal Dutch and form the Royal Dutch Shell Group, as seen in the company’s website.
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