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Abonner Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc

Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc

Amsterdam Court of Appeals Declares Shell Settlement Binding

The Hague, The Netherlands (ots/PRNewswire)

The Hague -
Today, the Amsterdam Court of Appeals has declared the Non-U.S.
Settlement Agreement concerning the recategorisation by Shell of
certain of its oil and gas reserves binding. The agreement provides
relief in the amount of US$352.6 million to qualifying non-U.S.
shareholders who bought Shell shares on any stock exchange outside
the United States from 8 April 1999 through 18 March 2004. The
settlement amount includes a US$12.5 million payment which is to be
distributed equally to all shareholders who submit a valid claim for
relief, regardless of the number of shares held by the person or
entity submitting a claim.
In addition to the US$352.6 million, an amount of US$28.4 million
was made available to align the relief available under the Non-U.S.
Settlement Agreement with the relief available under the U.S.
Settlement. Shell furthermore agreed to pay interest as per 1 April
2008.
Parties to this agreement are Shell*, institutional investors
Stichting Pensioensfonds ABP and PGGM (on behalf of Stichting
Pensioenfonds Zorg en  Welzijn), the Vereniging van Effectenbezitters
(VEB, the Dutch investors  association representing individual
shareholders in the Netherlands and  similar organisations) and the
Stichting Shell Reserves Compensation  Foundation (the Foundation).
Theo Raaijmakers, chairman of the Foundation comments: "We are
pleased that the Amsterdam Court of Appeals has approved the
settlement. This is a unique event, both for the contents of the
case, and also for the fact that this is the first time a Dutch court
has declared such a large international settlement agreement binding.
The settlement was already supported by many individual shareholders
and more than 150 institutional investors. As the Court has now
confirmed that the settlement is fair and reasonable we will finally
be able to start with the process of making claim forms available,
assessing the validity of the claims and distributing the settlement
amount. We thank in particular Stichting Pensioensfonds ABP,
Stichting Pensioenfonds Zorg en Welzijn, the VEB, Shell and our U.S.
and Dutch legal counsel, who together initiated this solution."
Further information about the consequences of the binding
declaration of the Non-U.S. Settlement Agreement for those
shareholders to whom it applies (including information about how to
submit a claim for relief and the possibility to "opt-out") will be
made available in due course via announcements in various newspapers,
a direct mailing to known shareholders and on the websites:
http://www.royaldutchshellsettlement.com,
http://www.shellsettlement.com, http://www.shellcompensation.com,
http://www.shellvergoeding.nl, http://www.veb.net,
http://www.shell.com, http://www.abp.nl, http://www.apg.nl, and
http://www.pfzw.nl.
About the Foundation
The Stichting Shell Reserves Compensation Foundation is a
foundation representing all shareholders covered by the Non-U.S.
Settlement Agreement. The Foundation's participants, which all
support the Non-U.S. Settlement Agreement, comprise approximately 150
institutional investors, including Stichting Pensioensfonds ABP, PGGM
(on behalf of Stichting Pensioenfonds Zorg en Welzijn), DEKA, Norges,
UBS and Morley, as well as Euroshareholders, the confederation of
European shareholders associations, and 18 other organisations
representing individual shareholders from Belgium, France, Germany,
Italy, Sweden, the Netherlands and a number of other countries.
Together with Shell, Stichting Pensioenfonds ABP, PGGM (on behalf of
Stichting Pensioenfonds Zorg en Welzijn) and the VEB, the Foundation
requested that the Court declare this settlement binding. Under the
binding Settlement Agreement it is the Foundation's task to
distribute the settlement amounts to those investors that are
entitled to relief.
* The expression "Shell" as used in this release indicates the
two former parent companies, i.e. The Shell Transport and Trading
Company, Ltd., (formerly: The "Shell" Transport and Trading Company,
plc.) and Shell Petroleum N.V. (the successor company to Royal Dutch
Petroleum Company).
For more information please visit
http://www.royaldutchshellsettlement.com

Contact:

For more information please visit
http://www.royaldutchshellsettlement.com or contact: Stichting Shell
Reserves Compensation Foundation: Rob Okhuijsen, +31(0)6-26216773,
r.okhuijsen@m-o.nl

Plus de actualités: Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc
Plus de actualités: Stichting Shell Reserves Compensation Foundation and Royal Dutch Shell plc