AFX Europe (Focus): Royal Dutch Shell proposes to pay minority shareholders 52.21 eur/shr: “Royal Dutch Shell also said eligible UK resident shareholders can receive loan notes exchangeable into Royal Dutch Shell 'A' shares.”: Tuesday October 31, 2005
LONDON (AFX) - Royal Dutch Shell Group today announced that it will be paying 52.21 eur per share to minority shareholders in its former Dutch holding company, following the restructuring of the Anglo-Dutch oil giant.
Royal Dutch Petroleum is being merged into a new subsidiary, Shell Petroleum NV. Remaining minority shareholders in Royal Dutch Petroleum, accounting for about 1.5 pct of its equity, will be the ones entitled to this payment, which Royal Dutch said today would cost it a total of 1.6 bln eur in the fourth quarter of 2005.
Royal Dutch Shell also said eligible UK resident shareholders can receive loan notes exchangeable into Royal Dutch Shell 'A' shares.
A Royal Dutch Extraordinary General Meeting is being held on Dec 16 to approve the proposal and it is expected that the restructuring will be completed on or about Dec 21.
Click here to return to ShellNews.net HOME PAGE