CITI A.M.
Shell holds talks with investors to push through London HQ move
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CITI A.M.
Shell holds talks with investors to push through London HQ move
BY: NICHOLAS EARL: TUESDAY 23 NOVEMBER 2021 4:28 PM
Royal Dutch Shell is looking to persuade investors to back its plan to relocate the company’s headquarters from the Netherlands to UK.
The oil giant’s management team has set up more than 100 meetings with leading investors in recent days to push through historic company, sources told Reuters.
Shell announced earlier this month they would scrap dual Anglo-Dutch share structure, move to London from The Hague, and ditch the Royal Dutch branding after 114 years of holding the name.
Shareholders will vote on the changes at a special general meeting on December 10 where the resolution needs to secure a very high threshold of votes – over 75 per cent.
When the changes were announced, Shell’s chair Sir Andrew Mackenzie argued the changes were necessary to “create value for our shareholders, customers, and wider society.”
While Shell has pushed the argument that it will help the company transition to a net zero, sustainable economy, a primary factor in the move is fulfilling its share buyback pledges.
In July, it announced a $2bn buyback programme and has since said it will return $7bn to shareholders after its sale of Permian assets in the US is completed.
Proxy advisory Glass Lewis, which advises major funds, has recommended shareholders vote in favour of the changes.
Glass Lewis said the simplified structure would allow “an acceleration in distributions by way of share buybacks, as there will be a larger single pool of ordinary shares that can be bought back.”
Shell has also announced plans to acquire energy retailer Powershop Australia.
Posted in: Big Oil, Break-up Shell, Environment, Fossil Fuels, Goodbye Royal Dutch Shell Plc, Litigation, Netherlands, Oil, Royal Dutch Shell, Royal Dutch Shell Plc, Shell, Shell Oil Company, Shell PLC.
Tagged: Environment · Gas · Oil · Royal Dutch Shell Plc · Shell
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I used shell broadband. It was by far the worst broadband provider ever! The internet did not work most days. I had their super fast broadband and it dropped out constantly. Watching a movie was awful with the constant buffering. Customer support was super slow. Now their going to charge me for the useless router which I have sent back.
Date of experience: 21 November 2023
Broadband Service is Appalling
I ordered shell energy broadband on nov 2. I was promised connection the following week. They initiated the direct debit. I called the following week and was told router would arrive on 13 and service would go live on 17. No further email or communication until 20 when I was told service would start on 30th. Spent 10 minutes waiting on phone line and spoke to a polite assistant who was absolutely useless in solving my problem. Avoid this unprofessional and chaotic… Read more
The worst ever
I used shell broadband. It was by far the worst broadband provider ever! The internet did not work most days. I had their super fast broadband and it dropped out constantly. Watching a movie was awful with the constant buffering. Customer support was super slow. Now their going to charge me for the useless router which I have sent back.
Date of experience: 21 November 2023
30 November 2023: Posted by John Donovan
The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more
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