Riverstone Credit Opps. Inc PLC Share Buyback Programme Initiated (7315Q)
June 30 2022 - 1:00AM
UK Regulatory
TIDMRCOI
RNS Number : 7315Q
Riverstone Credit Opps. Inc PLC
30 June 2022
30 June 2022
Riverstone Credit Opportunities Income Plc
Share Buyback Programme Initiated
Riverstone Credit Opportunities Income Plc (the "Company" or
"RCOI") announces that it has appointed J.P. Morgan Securities plc
( which conducts its UK investment banking activities as J.P.
Morgan Cazenove) ("J.P. Morgan Cazenove") to act as its broker to
commence market purchases of its own shares (the "buybacks").
The buybacks will be undertaken for the purpose of allowing the
Company to return some of its uncommitted capital to shareholders
and in recognition of the Company's current discount to NAV.
The buybacks will be funded from the Company's existing
resources.
The buybacks will be made pursuant to the authority granted at
the annual general meeting of the Company held on 18 May 2022,
pursuant to which it has authority to repurchase a maximum of
13,722,652 of its ordinary shares (being its outstanding
shareholder authority). Such authority lasts until the next annual
general meeting of the Company (or other such general meeting of
shareholders at which authority to buy back shares is
obtained).
No maximum consideration payable has been determined by the
Company, but the Company is unable to pay a price for any shares
pursuant to the buybacks which would equate to a premium on the net
asset value of such shares.
Reuben Jeffery, Chairman, said:
"We have great confidence in the strategy, assets and
differentiated approach of RCOI, with its increasing focus on
energy infrastructure and energy-transition loans that have a green
or sustainability-linked element as well as the outstanding
portfolio performance since listing to date. We believe that the
current discount to NAV does not accurately reflect the fund's
portfolio quality and pipeline."
This arrangement is in accordance with the Company's general
authority to repurchase shares and (although not strictly
applicable to the Company) the parameters set out in Listing Rules
12.4.1 and 12.4.2 of the Financial Conduct Authority's Listing
Rules.
For Further Information:
Riverstone Credit Opportunities Income Plc:
Adam Weiss Tel: +1 212 271 2953
J.P. Morgan Cazenove:
Jérémie Birnbaum (Corporate Finance) Tel: +44 (0)20 7742
4000
James Bouverat (Sales) Tel: +44 (0)20 7134 2223
Email: james.e.bouverat@jpmorgan.com
Carrie Fox (Sales Trader) Tel: +44 (0)20 7742 4463
Email: carrie.fox@jpmorgan.com
Charlotte Twigden (Sales Trader) Tel: +44 (0)20 7742 8805
Email: charlotte.twigden@jpmorgan.com
Media Contacts:
Buchanan
Helen Tarbet Henry Tel: +44 (0) 20 7466 5109 Tel: +44
Wilson Jon Krinks Verity (0) 20 7466 5111 Tel: +44 (0) 20
Parker 7466 5199 Tel: +44 (0) 20 7466 5197
Email: rcoi@buchanan.uk.com
About Riverstone Credit Opportunities Income Plc :
RCOI lends to companies that build and operate the
infrastructure used to generate, transport, store and distribute
both renewable and conventional sources of energy, and companies
that provide services to that infrastructure. RCOI is strategically
repositioning towards companies seeking to facilitate the energy
transition by decarbonizing the energy, industrial and agricultural
sectors, building sustainable infrastructure and reducing or
sequestering carbon emissions. The Company seeks to ensure that its
investments are having a positive impact on climate change by
structuring each deal as either a green loan or a
sustainability-linked loan, documented using industry best
practices.
For further details, see https://www.riverstonecoi.com/ .
Neither the contents of RCOI'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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDFLMTTMTITTTT
(END) Dow Jones Newswires
June 30, 2022 02:00 ET (06:00 GMT)
Riverstone Credit Opport... (LSE:RCOI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Riverstone Credit Opport... (LSE:RCOI)
Historical Stock Chart
From Jul 2023 to Jul 2024