Royal Dutch Shell

London, UK: (Apr-10-07) Royal Dutch Shell announced the settlement of all claims against them outside the US pertaining to the 2004 restatement of reserves. Though Shell i.e. The Shell Transport and Trading Company, Ltd. and Shell Petroleum N.V. did not admit to any wrongdoing on its part, they have agreed to pay $352.6 million, plus administrative costs, to investors covered by the settlement. They include non-US investors who purchased their shares outside the US. The parties to the settlement agreement include certain institutional investors including ABP, PGGM, the Vereniging van Effectenbezitters, an organization representing individual shareholders in The Netherlands and similar organizations, and the Shell Reserves Compensation Foundation, a settlement foundation representing all shareholders covered by the settlement agreement. [EARTH TIMES: SHELL SETTLEMENT]

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Published on Apr-13-07