Riverstone Energy to use Rock cash for buyback
Riverstone Energy Limited
912.00p
16:55 03/05/24
-0.22%
-2.00p
Riverstone Energy Limited (RSE) has received the balance of $14m from the sale of its interests in Rock Oil last October, which had been held in escrow.
Equity Investment Instruments
12,000.38
16:54 03/05/24
0.92%
108.84
FTSE 250
20,164.54
17:00 03/05/24
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FTSE 350
4,515.50
16:54 03/05/24
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FTSE All-Share
4,469.09
17:14 03/05/24
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The investment company's manager, Riverstone Energy Capital Partners, will acquire just over £1.1m RSE shares through secondary market purchases at prices below the prevailing published net asset value of the company over a period of up to four months, in order to satisfy the terms of the performance allocation payment.
RSE, which received $216m up-front from the Rock disposal, had a NAV per share of $19.74 as of 30 June 2017, down 1.8% since the end of December.