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Update on Share Buyback Programme
RNS Number : 5390O
Riverstone Energy Limited
03 October 2023
 

LEI: 213800HAZOW1AWRSZR47

3 October 2023

Riverstone Energy Limited

("REL" or the "Company")

Update on Share Buyback Programme

As the next portfolio valuation date is 30 September 2023, Riverstone Energy Limited announces that it has entered into an irrevocable commitment with J.P. Morgan Securities plc and Numis Securities Limited to continue its open market share buyback programme through a non-discretionary programme repurchasing ordinary shares in the Company, within certain pre-set parameters, during the period starting on the date of this announcement and ending after the portfolio valuation for 30 September 2023 is published in October 2023.

Since the Company's announcement on 3 July 2023, 1,312,121 ordinary shares have been bought back pursuant to the buyback programme at a total cost of approximately £7.3 million ($9.2 million), leaving £22.2 million remaining allocated to the programme.  In addition to the buyback programme, the Company has acquired 3,182,196 ordinary shares pursuant to the tender offer announced on 17 August 2023 at a total cost of approximately £18.4 million.  

This arrangement is in accordance with Chapter 12 of the FCA Listing Rules and the Company's general authority to repurchase shares.

About Riverstone Energy Limited:

REL is a closed-ended investment company which invests in the energy industry that has since 2020 been exclusively focussed on pursuing and has committed $193 million to a global strategy across decarbonisation sectors presented by Riverstone's investment platform.  REL's ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE.  REL has 15 active investments spanning decarbonisation, oil and gas, renewable energy and power in the Continental U.S., Western Canada, Europe and Australia.

For further details, see www.RiverstoneREL.com

Neither the contents of Riverstone Energy Limited's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

Media Contacts

For Riverstone Energy Limited:

Josh Prentice
 +44 203 206 6300

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