Riverstone Energy Limited Change of Audit Committee Chair (2709Y)
02 January 2024 - 6:00PM
UK Regulatory
TIDMRSE
RNS Number : 2709Y
Riverstone Energy Limited
02 January 2024
LEI: 213800HAZOW1AWRSZR47
2 January 2024
Riverstone Energy Limited
Change of Audit Committee Chair
Receipt of Proceeds
Riverstone Energy Limited ("REL") is pleased to announce that
John Roche will succeed Patrick Firth as Chair of the Audit
Committee of the Board of Directors with effect from 1 January
2024. Patrick Firth will remain as a Non-Executive Director and
Senior Independent Director and a member of the Audit Committee, a
member of the Management and Engagement Committee and a member of
the Nomination and Remuneration Committee and will be retiring
before the Company's next Annual General Meeting in 2024.
The disposal of REL's investment in Hammerhead Energy Inc. to
Crescent Point Energy Corp. ("Crescent Point") completed on 22
December 2023 and REL has now received cash proceeds of
US$173,163,643 and 8,301,862 shares of Crescent Point common
equity.
As announced on 7 November 2023, REL is exploring the most
efficient means of returning its excess capital to shareholders.
The distribution of capital requires both the consent of the Board
of Directors and the Company's investment manager, RIGL Holdings LP
("RIGL"). The Board and RIGL are in discussions on how best to
progress a distribution of capital.
For further information:
For Riverstone Energy Limited
Josh Prentice
+44 20 3206 6300
J.P. Morgan Cazenove - Joint Corporate Broker
William Simmonds
Jeremie Birnbaum
+44 (0) 203 493 8000
Deutsche Numis - Joint Corporate Broker
Hugh Jonathan
Matt Goss
+44 (0) 20 7260 1000
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 $211 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 14 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 .
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