REG - Riverstone Credit - Compulsory Share Redemption & Dividend Declaration

Riverstone Credit Opportunities IncomeAnnouncement

25/02/2026 07:02

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RNS Number : 2529U  Riverstone Credit Opps. Inc PLC  25 February 2026

25 February 2026

 

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RIVERSTONE CREDIT OPPORTUNITIES INCOME PLC

 ("RCOI" or the "Company")

 

Compulsory Redemption of Shares and Quarterly Dividend Declaration

c.25 per cent of share capital to be redeemed

 

 

The Board is pleased to announce that it intends to return a further
US$10,800,000 to holders of its ordinary shares of US$0.01 each in the capital
of the Company (the "Ordinary Shares") by way of a third compulsory partial
redemption of up to 12,134,831 Ordinary Shares (the "Compulsory Redemption").
The Company currently has 49,066,161 Ordinary Shares in issue (none of which
are held in treasury).

 

Following this Compulsory Redemption, the Company will have cumulatively
returned approximately US$ 50,633,190 to Shareholders since entering into
managed wind-down on 22 May 2024, equal to 52 per cent. of the value of the
Company's NAV at that time.

 

Approximately 25 per cent. of the Company's total issued share capital as at
the date of this announcement will be redeemed pursuant to the Compulsory
Redemption. The Compulsory Redemption will be effected pro rata to each
Shareholder's registered holding of Ordinary Shares as at the close of
business on the Redemption Date, being 30 March 2026 (the "Redemption Date").
 Fractions of Ordinary Shares will not be redeemed and so the number of
Ordinary Shares to be redeemed from each Shareholder will be rounded down to
the nearest whole number of Ordinary Shares.

 

The Compulsory Redemption will be effected at a price per Ordinary Share equal
to US$0.89 per Ordinary Share redeemed (the "Compulsory Redemption Price"),
being equivalent to the 31 December 2025 NAV per Ordinary Share - the
prevailing NAV per Ordinary Share on the Redemption Date. The Compulsory
Redemption Price has been determined in accordance with the articles of
association (the "Articles") and includes the nominal value of each redeemed
Ordinary Share.

 

On the basis set out above, a holder of 10,000 Ordinary Shares would have
2,473 Ordinary Shares redeemed under the Compulsory Redemption, and would
receive approximately US$2,201 in cash.

 

All of the Ordinary Shares redeemed on the Redemption Date will be cancelled
and accordingly will thereafter be incapable of transfer by Shareholders or
reissue by the Company.

 

The amount to be applied to the Compulsory Redemption of Ordinary Shares
comprises monies arising from the repayment and realisation of the Company's
investments. Following the payment of the proceeds of the Compulsory
Redemption  (and the payment of the payment of the Q4 2025 dividend referred
to below), the Company will hold cash equal to approximately US$2,300,000.

 

In accordance with the Articles, the Company has today dispatched formal
notices of redemption to Shareholders in respect of the Compulsory Redemption.

 

Shareholders should consult their independent professional adviser regarding
the tax implications of the Compulsory Redemption for them.

 

Settlement

 

In the case of Ordinary Shares held in uncertificated form (that is, in
CREST), the Compulsory Redemption will take effect automatically on the
Redemption Date.

 

The existing Shares will be disabled in CREST after close of business on the
Redemption Date and the existing ISIN GB00BP0R4J21 (the "Old ISIN") will be
disabled.

 

The new ISIN GB00BRBWLX34 (the "New ISIN"), in respect of the remaining Shares
which have not been redeemed, will be enabled and available for transactions
from 8.00 a.m. on 31 March 2026. CREST will automatically transform any open
transactions as at the Redemption Date into the New ISIN.

 

In the case of Shares held in certificated form (that is, not in CREST),
redemptions will take effect

automatically on the Redemption Date. Shareholders' existing Share
certificates will be cancelled and new Share certificates will be issued to
each such Shareholder for the balance of their shareholding after the
Redemption Date.

 

Up to and including the Redemption Date, Ordinary Shares will continue to be
traded under the Old ISIN and as such, a purchaser of such Ordinary Shares who
was not on the register on the Redemption Date would have a market claim for a
proportion of the redemption proceeds.

 

All Ordinary Shares that are redeemed will be cancelled with effect from the
relevant Redemption Date. Accordingly, once redeemed, such Ordinary Shares
will be incapable of transfer.

 

Payments of redemption monies are expected to be effected either through CREST
(in the case of Shares held in uncertificated form) or by cheque (in the case
of Shares held in certificated form) within 10 Business Days of the Redemption
Date, or as soon as practicable thereafter. Shareholders will be paid their
redemption proceeds in US dollars.

 

Declaration of quarterly dividend

 

In conjunction with the Compulsory Redemption, the Directors have declared a
distribution for the quarter ending 31 December 2025 of 0.011 cents per share,
payable on 27 March 2026 to holders of Ordinary Shares on the register at the
close of business on 6 March 2026 (ex-distribution date is 5 March 2026).

 

Any such dividend payment to Shareholders may take the form of either dividend
income or "qualifying interest income" which may be designated as an interest
distribution for UK tax purposes and therefore subject to the interest
streaming regime applicable to investment trusts. In this case, whole of the
quarterly dividend is treated as qualifying interest income.

 

The quarterly dividend due on each Ordinary Share will be paid prior to the
Redemption Date(1).

 

Expected Timetable

 

 Notice of Compulsory Redemption despatched                       25 February 2026
 Payment of Q4 2025 dividend                                      27 March 2026
 Redemption Date (and record date for the Compulsory Redemption)  30 March 2026
 Redemption Ex-date and new ISIN enabled                          31 March 2026
 Redemption payment date (on or around)                           15 April 2026

__________

(1 ) Shareholders should note that, although the dividend for the quarter
ending 31 December 2025 will be paid before the Redemption Date, as determined
in accordance with the Articles, the Redemption Price remains the prevailing
NAV per Ordinary Share on the Redemption Date (being the NAV per Ordinary
Share as at 31 December 2025 NAV) and is not adjusted in respect of the
dividend payment.

 

For Riverstone Credit Opportunities Income Plc:

Catherine
Carron
            +44 28 9693 0220

For J.P. Morgan Cazenove (Corporate Broker): +44 (0) 20 7742 4000

William Simmonds

Jade Lee

For further details, see https://www.riverstonecoi.com/.

 

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