Royal Dutch Shell Announces Class B Share Buyback Agreement with Independent Third Party
Royal Dutch Shell plc (NYSE: RDS.A) (NYSE: RDS.B) announces that it has entered into an irrevocable, non-discretionary arrangement with an independent third party to enable the purchase of 'B' ordinary shares during the 2011 fourth quarter results close period. Such shares will be cancelled. The close period commences on 1 January 2012 and is up to and including 2 February 2012.
As previously announced, the purpose of the share buy-back programme is to offset dilution created by the issuance of shares for the Company's Scrip Dividend Programme. At this time, it is less economic for the Company to purchase 'A' ordinary shares under the share buy-back programme due to Dutch dividend withholding Tax rules.
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