RDSB

Private investors who lost money during the Royal Dutch Shell (RDSB) reserve crisis are expected to find out this quarter when they can make a claim. VEB, a Dutch shareholder group representing small investors, won a $304 million (£152 million) settlement from the oil giant in April 2006. But investors can’t lodge claims until the settlement has been approved by the Dutch courts.

Updating investors, Gerban Hettinga, head of the economic department at VEB, told Shares: ‘I believe the court will decide in the next couple of months. Then there will be an opt out period and after that shareholders will be able to file a claim.’

Hettinga is due to send out an update on the claim progress in the next few weeks to the 30,000-odd private investors who have registered an interest in making a claim at www.shellcompensation.com.

Any European investors who bought shares between 8 April 1999 and 18 March 2004 qualify to make a claim. This includes UK investors who purchased shares in the company’s now merged UK arm, Shell Transport and Trading Company.

Royal Dutch Shell, which was formed out of the joining of Shell Transport and Trading and Netherlands-based Shell Petroleum, shocked investors in 2004 when it revealed it had over booked its oil and gas reserves by 20%.

Mr Hettinga says if the court case goes ahead this quarter, investors may expect payment in 2009. Anyone who simply lodges a claim will receive an equal portion of a $12.5 million incentive money Shell was ordered to pay VEB to encourage people to come forward.