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Venerable stock ‘Koninklijke’ disappears from Amsterdam Exchange
Now part of Royal Dutch Shell
Tags: Excerpts from the Windmill
AMSTERDAM - Stock quotes for one of the best-known and well-traded shares at the Amsterdam Stock Exchange will end on September 30. Koninklijke Olie - Royal Dutch - was the majority owner of Royal Dutch Shell, which earlier this year simplified the company structure and on July 20, 2005 merged Dutch ‘Koninklijke’ with British Shell, eliminating stock in both parent firms.
Royal Dutch was the abbreviated name for ‘Koninklijke Nederlandse Petroleum Maatschappij’ (Royal Dutch Petroleum Company), founded in 1890 by Jean Kessler, Henri Deterding and Hugo Loudon. The firm soon became known as ‘Koninklijke Olie’ and in English as ‘Royal Dutch’.
In 1830, a small trading firm was set up in London, England, dealing in sea shells imported from the Far East. The London firm expanded when it began to sell lamp oil as well, which eventually became a more important commodity than the shells. A Saint Jacob shell was adopted as the logo of the Shell Transport and Trading Company.
Royal Dutch and Shell began their full cooperation in 1907, keeping ownership separate, with the Dutch retaining a 60 percent stake, while Shell was with 40 percent the minority partner. Until 2005, the company known as Royal/Shell Group continued to be served by two head offices, one in London, while the one in The Hague was seen as the more senior one.
As a result of the 2005 ‘merger,’ Britain-registered Royal Dutch Shell will house its corporate headquarters fully in The Hague, with Dutchman Jeroen van der Veer as chairman of the new board, a merger of both former boards.
Euronext Amsterdam will delist ‘Koninklijke’ stock upon the close of business on September 30. New stock Royal Dutch Shell A and B has been listed since July 20.