Daily Telegraph: Shell admits rump of stock could trade with new shares
By Christopher Hope, Business Correspondent (Filed: 04/06/2005)
Shell has admitted that a rump of shares in Royal Dutch Petroleum could still be traded alongside new Royal Dutch Shell stock if not enough investors accept the energy giant’s restructuring plans.
Shell has pledged to reform its 100-year-old dual Anglo-Dutch structure in the wake of its shock admission that it had overstated its proven oil and gas reserves by 25pc.
The oil major is 60-40 controlled by Royal Dutch Petroleum in the Netherlands and Shell Transport and Trading in the UK. Under the plans, they will be replaced by Royal Dutch Shell, with its main listing in London.
Shell officials are confident of achieving the acceptances from Shell Transport holders – 75pc of the shares by value and 50pc of the shares voted at an extraordinary meeting. One senior company source said there was a “very high likelihood” of agreement. At Royal Dutch, 95pc of the issued shares must approve the deal. Asked whether Shell would get these acceptances, the source was less sure: “We are confident of getting to an acceptable number. There is every chance of getting to the 95pc.”
If the 95pc figure is not achieved, then the new board of Royal Dutch Shell can decide to push on regardless. The source added: “If you get 94.2pc acceptances it is a no-brainer. If you get only 4pc acceptances it is a no-brainer. It is somewhere in between where it becomes more difficult.”
Shell’s problems are compounded because its total shareholder base is split 40-30-30 between the UK, Europe and the US. Most of the shares traded in the US are Royal Dutch stock. Royal Dutch shares are traded on another eight exchanges.
Royal Dutch shareholders must accept by July 18, two days before trading in Royal Dutch Shell shares begins. Shell will not disclose how many Royal Dutch shares are held by institutions and private investors, who might be less likely to reply.
Shell has warned that Royal Dutch investors who fail to accept might find it difficult to trade their shares because of an illiquid market. It has said it might pursue a “Dutch squeeze-out procedure” involving shareholders being forced under Dutch law to hand over their stock in return for cash.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
