Reference Share Price
The Reference Share price is used for calculating a Participating Shareholder’s entitlement under the Scrip Dividend Programme, as defined below.
|Reference Share price (US$) ||39.452|
The Reference Share Price is the US dollar equivalent of the average of the closing price for the Company’s A Shares listed on Euronext Amsterdam for the five dealing days commencing on (and including) the date on which the Shares are first quoted ex-dividend in respect of the relevant dividend.
The Reference Share Price is calculated by reference to the Euronext Amsterdam closing price in euro. The US dollar equivalent of the closing price on each of the dealing days referred to above is calculated using a market currency exchange rate prevailing at the time.
Reference ADS Price
ADS stands for “American Depositary Share”. ADR stands for “American Depositary Receipt”. An ADR is a certificate that evidences ADSs (though the terms ADR and ADS are often used interchangeably). ADSs are listed on the NYSE under the symbols RDS.A and RDS.B. Each ADS represents two ordinary shares, two ordinary A Shares in the case of RDS.A or two ordinary B Shares in the case of RDS.B.
|Reference ADS price (US$) ||78.904|
The Reference ADS Price equals the Reference Share Price of the two A Shares underlying each new A ADS. A court ruling has established that Stamp Duty Reserve Tax (SDRT) is not due on the issue of shares to a US depositary. Therefore, the Reference ADS price no longer includes an adjustment for the deduction of SDRT (or the Dutch withholding tax associated with the payment of SDRT). Given these changes, there is no longer a need to have an Alternative Reference ADS Price. The Reference ADS Price will instead apply to all A ADSs and B ADSs.
ADS holders may wish to consider reclaiming SDRT amounts deducted on previous issues under the Scrip Dividend Programme. Further details can be found within the dividend section of the Royal Dutch Shell plc website: www.shell.com/dividend.