Result of AGM

Rhea-AI Summary

Royal Dutch Shell plc held its Annual General Meeting on May 18, 2021, where resolutions 1-20 were approved, while resolution 21 regarding a shareholder initiative was rejected. Notably, over 88% of votes supported Shell's Energy Transition Strategy aimed at achieving net-zero emissions by 2050. CEO Ben van Beurden emphasized the importance of shareholder backing as the company adapts its business model. The results will be made available via the National Storage Mechanism, ensuring transparency in the voting outcomes.

Positive

• Over 88% shareholder support for Shell's Energy Transition Strategy.
• Resolutions 1-20 were approved, indicating strong backing for company governance.
• Commitment to becoming a net-zero emissions energy business by 2050.

Negative

• Resolution 21 (Shareholder resolution) was not carried, indicating some shareholder dissent.

ROYAL DUTCH SHELL PLC

 

 

RESULT OF ANNUAL GENERAL MEETING

 

 

Royal Dutch Shell plc announces the poll results on the resolutions at its Annual General Meeting held on Tuesday May 18, 2021 at Carel van Bylandtlaan 16, 2596 HR, The Hague, The Netherlands. Resolutions 1-20 were carried and resolution 21 (Shareholder resolution) was not carried.

 

In accordance with the Listing Rules, a copy of all resolutions other than resolutions concerning ordinary business at the Annual General Meeting, will be submitted to the National Storage Mechanism and will be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

 

 

	RESOLUTION	VOTES FOR	%	VOTES AGAINST	%	VOTES TOTAL	% of ISC VOTED	VOTES WITHHELD
1	Receipt of Annual Report & Accounts	3,605,564,535	97.15	105,583,282	2.85	3,711,147,817	47.53%	64,698,144
2	Approval of Directors’ Remuneration Report	3,567,342,830	95.86	153,872,670	4.14	3,721,215,500	47.66%	54,753,918
3	Appointment of Jane Holl Lute	3,714,614,287	98.78	46,026,888	1.22	3,760,641,175	48.17%	15,317,015
4	Reappointment of Ben van Beurden	3,580,501,167	95.27	177,668,796	4.73	3,758,169,963	48.14%	17,805,039
5	Reappointment of Dick Boer	3,704,197,937	98.50	56,399,780	1.50	3,760,597,717	48.17%	15,363,028
6	Reappointment of Neil Carson	3,677,858,288	97.80	82,758,240	2.20	3,760,616,528	48.17%	15,347,277
7	Reappointment of Ann Godbehere	3,703,566,054	98.48	57,170,334	1.52	3,760,736,388	48.17%	15,225,320
8	Reappointment of Euleen Goh	3,704,748,538	98.51	55,978,457	1.49	3,760,726,995	48.17%	15,239,897
9	Reappointment of Catherine Hughes	3,708,123,042	98.60	52,727,655	1.40	3,760,850,697	48.17%	15,110,251
10	Reappointment of Martina Hund-Mejean	3,710,108,029	98.66	50,547,493	1.34	3,760,655,522	48.17%	15,310,545
11	Reappointment of Sir Andrew Mackenzie	3,746,019,558	99.62	14,423,962	0.38	3,760,443,520	48.16%	15,521,406
12	Reappointment of Abraham (Bram) Schot	3,746,988,473	99.64	13,576,033	0.36	3,760,564,506	48.17%	15,385,034
13	Reappointment of Jessica Uhl	3,676,744,859	97.77	83,736,411	2.23	3,760,481,270	48.17%	15,476,183
14	Reappointment of Gerrit Zalm	3,626,996,073	96.46	133,084,038	3.54	3,760,080,111	48.16%	15,872,497
15	Reappointment of Auditors	3,703,139,005	98.43	58,886,114	1.57	3,762,025,119	48.19%	13,943,185
16	Remuneration of Auditors	3,752,965,590	99.79	7,781,604	0.21	3,760,747,194	48.17%	15,219,574
17	Authority to allot shares	3,652,922,871	97.16	106,732,145	2.84	3,759,655,016	48.15%	16,304,272
18	Disapplication of pre-emption rights*	3,732,591,017	99.39	22,896,665	0.61	3,755,487,682	48.10%	20,473,873
19	Authority to purchase own shares*	3,653,700,069	98.10	70,703,324	1.90	3,724,403,393	47.70%	51,590,866
20	Shell’s Energy Transition Strategy	3,139,870,455	88.74	398,536,568	11.26	3,538,407,023	45.32%	237,591,728
21	Shareholder resolution*	1,111,147,799	30.47	2,535,689,229	69.53	3,646,837,028	46.71%	129,156,318

 

* Special resolution

 

Please note that a ‘vote withheld’ is not a vote under English Law and is not counted in the calculation of the proportion of the votes ‘for’ and ‘against’ a resolution.

 

Shell Chief Executive Officer Ben van Beurden said:  “Shareholder support is critical as our business changes and we work towards our target to become a net-zero emissions energy business by 2050, in step with society. This shareholder vote on our Energy Transition Strategy is a first for an energy company and we are pleased shareholders demonstrated their strong endorsement with more than 88% of votes cast in favour of our strategy.  We thank shareholders for their support and look forward to our continued engagement with them.  We also note the outcome of the vote on Shareholder Resolution number 21.  We will seek to fully understand the reason why shareholders voted as they did, particularly those who voted both ‘For’ Shell’s strategy and ‘For’ the Shareholder Resolution, and will formally report back to investors within six months".

 

May 18, 2021

 

Linda Coulter

Company Secretary

Royal Dutch Shell plc

 

ENQUIRIES

 

Shell Media Relations

International, UK, European Press: +44 20 7934 5550

 

LEI number of Royal Dutch Shell plc: 21380068P1DRHMJ8KU70
Classification: Additional regulated information required to be disclosed under the laws of a Member State.

 

FAQ

What were the results of Royal Dutch Shell's Annual General Meeting on May 18, 2021?

At the AGM, resolutions 1-20 were carried, while resolution 21 was not approved.

What percentage of votes supported Shell's Energy Transition Strategy?

More than 88% of shareholders voted in favor of Shell's Energy Transition Strategy.

What is the significance of the shareholder resolution that was not carried?

The rejection of resolution 21 indicates some level of shareholder dissent on specific issues.

How does Shell plan to achieve net-zero emissions by 2050?

Shell aims to transition its business model to reach net-zero emissions by 2050, supported by shareholder backing.