Shell wants to move its head office to the UK. The oil and gas company reports on Monday. The company says it wants to simplify its share structure by continuing only as an English company. This would increase Shell’s “competitiveness”. The shareholders have yet to consider the proposal of the Central Board.
The shareholders have yet to agree to the plan. The outgoing Dutch cabinet is “unpleasantly surprised” and disappointed. The company will be still Royal and Shell, but not Dutch in a way it was.
The company says that it wishes to remain present in the Netherlands. For example, a number of divisions, including those of renewable energy, will remain based in The Hague. Furthermore, it is expected that if the shareholders agree with the plan, the conditions for carrying the Royal-predicate — Royal Dutch Shell will no longer be met.
Royal Dutch Shell will be “in the midst of a restructuring in the financial and other areas of RMD’s business and its activities and business activities,” it says, citing “the need to comply with the conditions” of its shareholders.
“Although we do not have the same position as the major carriers, we nonetheless want to move forward with the project,” it continues, adding that it “has no further difficulties following its terms at current terms as well as in its other activities that would be of special benefit for us. We fully respect all stakeholders and will continue to work with them to improve its plans, actions and services.”
Shell is also under fire for failing to adhere the company’s obligations under Europol’s (Europol) Community Compliance Strategy, as a legal document adopted in 2007.
For its part, Shell says it would like the agreement to be extended to 2015 and is preparing to take legal action to counter its illegal actions, especially as it was involved in the 2012 Paris Climate Change Agreement.
Outgoing Minister Stef Blok (Economic Affairs, VVD) says he is “unpleasantly surprised”. The resigning cabinet is talking to the company about “the consequences ( … ) for jobs, crucial investment decisions and sustainability”. Shell would have ensured that the personnel consequences were limited to the relocation of a number of board positions.
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