Financial Times: Shell shock
“Italian investors holding nearly €1bn worth of Royal Dutch and Shell Transport shares will be unable to take part in the oil major’s ground-breaking corporate unification by exchanging their current holdings into new Royal Dutch Shell shares.”
Thursday 14 July 2005
By Paul Betts
Published: July 14 2005
So much for the Schengen border-free zone and European financial harmonisation. Regulatory hurdles are blocking investors domiciled not only in the US, Japan and New Zealand, but also in Italy, from participating in one of the year’s biggest share offers.
Italian investors holding nearly €1bn worth of Royal Dutch and Shell Transport shares will be unable to take part in the oil major’s ground-breaking corporate unification by exchanging their current holdings into new Royal Dutch Shell shares.
The Anglo-Dutch oil group is due to complete the merger of its two existing companies next week, with the primary listing of the new unified company’s shares making their debut in London.
Italians are being excluded because, it appears, the group was not prepared to undergo all the red-tape hassle and costs of getting its offer documents approved by the Italian regulator.
Italy still insists that foreign prospectuses and other documents are translated into Italian.
The documents must also undergo separate scrutiny by the Italian regulator.
Consob, the Italian stock market watchdog, seems surprised by the fuss. Apparently, the regulator was never contacted.
It also claims the cost for gaining Italian regulatory approval for a prospectus is not excessive compared with other European jurisdictions.
Whatever the arguments, common European rules would have avoided the problem. Instead, Italian investors will have to sell their existing shares and buy the new ones, paying all the usual brokerage and transaction costs.
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.
