Proxy advisory firm Institutional Shareholder Service (ISS) recommended shareholders support Royal Dutch Shell’s plan to move its head office from the Netherlands to Britain, according to a document seen by Reuters.
Shell said this month it would scrap its dual Anglo-Dutch share structure and move its head office to London from The Hague due to the Dutch tax system and after a court ruling over its strategy to reduce greenhouse gas emissions.
“The Company has provided compelling rationale which explains the benefits of the simplification of its share structure,” ISS said in a note.
The move will be brought to vote at a special general meeting on Dec. 10.
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