shareholders voting, page-24

Apologies if posted previously.

0341 GMT [Dow Jones] Royal Dutch Shell (RDSB.LN) says there's been no change to it and PetroChina's (PTR) A$3.44 billion takeover offer for Arrow Energy (AOE.AU) following Australian regulatory approval but adds Shell "continues to look at the impact of the government proposal across all of our Australian investments", referring to the proposed resource super profits tax. Spokesman declines to comment on whether there might ever be a change to the terms of the deal. CLSA Energy Analyst Di Brookman doesn't think tax will be a problem. "We believe categorically no," Brookman said in client note dated May 4. Brookman says any negligible impact on the related LNG project's value more than ameliorated by the discount at which the bid was made compared with earlier takeover of QGC. "It is hard to conceive in the enormous amounts of due diligence Shell would have done (that) the potential for the RSPT had not been considered," she says. ([email protected])