Riverstone Energy Limited Rock Oil - Further Performance Allocation Payment (9761S)
29 December 2016 - 11:12PM
UK Regulatory
TIDMRSE
RNS Number : 9761S
Riverstone Energy Limited
29 December 2016
Riverstone Energy Limited
29 December 2016
Rock Oil - Further Performance Allocation Payment
London, UK (29 December 2016) - Riverstone Energy Limited ("REL"
or the "Company"), announced on 27 October 2016 a Share Purchase
Programme for Riverstone Energy Capital Partners LP ("RELCP") for
approximately GBP6.5 million in the Company's Shares, pursuant to
the satisfaction of a performance allocation payment following the
disposal of Rock Oil. Following a series of purchases up until 16
December 2016, which have been announced, the Share Purchase
Programme has completed.
Following the finalisation of the taxes due on the disposal, the
Company announces a further GBP1.16 million due to be purchased by
RELCP in the Company's shares, pursuant to the Rock Oil sale. The
net proceeds paid to REL as a result of the sale remain unchanged.
Accordingly, RELCP intends to acquire a further GBP1.16 million of
the Company's shares through secondary market purchases ("Further
Share Purchase Programme") at prices below the prevailing published
net asset value of the Company over a period of up to 4 months.
RELCP has entered into an agreement with J.P. Morgan Securities plc
("JPMS plc") under which it has issued an irrevocable instruction
to JPMS plc to manage the Further Share Purchase Programme.
The Company confirms that it currently has no inside information
relating to the Company which has not been publicly disclosed.
About Riverstone Energy Limited
REL is a closed-ended investment company that invests
exclusively in the global energy industry, with a particular focus
on the exploration & production and midstream sectors. REL aims
to capitalise on the opportunities presented by Riverstone's energy
investment platform. REL is a member of the FTSE 250 and its
ordinary shares are listed on the London Stock Exchange, trading
under the symbol RSE. To date, REL has made 17 investments spanning
conventional and unconventional oil and gas activities in the Gulf
of Mexico, Continental U.S., Western Canada, the U.K. North Sea,
the Norwegian Sea, Mexico and credit.
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:
Riverstone Energy Limited:
Natasha Fowlie
Brian Potskowski
+44 203 206 6300
This information is provided by RNS
The company news service from the London Stock Exchange
END
STREAAANAENKFFF
(END) Dow Jones Newswires
December 29, 2016 07:12 ET (12:12 GMT)
Riverstone Energy (LSE:RSE)
Historical Stock Chart
From Apr 2024 to May 2024
Riverstone Energy (LSE:RSE)
Historical Stock Chart
From May 2023 to May 2024