Shell: Internal investigation substantially completed The allegations in the Muddy Waters report have no basis in fact


Shell House Search released an update on its internal investigation on January 28.As previously disclosed by the Company, the Audit Committee of the Company, consisting of three independent directors of the Company, conducted an internal investigation into the key allegations in the Report immediately after muddy Waters issued its short selling report on December 16, 2021.Independent third party consultants, including an international law firm and forensic accounting experts from a Big Four accounting firm that is not our auditor, have been retained to assist in the internal investigation.At present, the internal investigation has been substantially completed.Based on its internal investigation, the audit committee concluded that the allegations in the Muddy Waters report were not supported by facts.Source: Flush Financial Research Center

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