REG - Riverstone Credit - Quarterly Dividend, NAV and Compulsory Redemption

Riverstone Credit Opportunities IncomeAnnouncement

08/08/2024 16:45

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RNS Number : 7941Z  Riverstone Credit Opps. Inc PLC  08 August 2024

Riverstone Credit Opportunities Income Plc

("RCOI" or the "Company")

Quarterly Dividend Declaration, Unaudited Net Asset Value and Compulsory
Redemption

 

Quarterly Dividend Declaration

 

The Directors of Riverstone Credit Opportunities Income ("RCOI" or the
"Company"), the LSE-listed energy infrastructure and energy-transition credit
investor, have declared a distribution for the quarter ending 30 June 2024 of
0.7 cents per share, payable on 20 September 2024 to holders of Ordinary
Shares on the register at the close of business on 16 August 2024
(ex-distribution date is 15 August 2024).

 

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. Of this dividend declared of
0.7 cents per share, nil cents is declared as dividend income with 0.7 cents
treated as qualifying interest income.

 

Unaudited Net Asset Value

 

On 19 July 2024, the Company announced an estimated unaudited net asset value
("NAV") per Ordinary Share as at 30 June 2024 of $1.02. The Company today
announces that its final unaudited NAV per Ordinary Share as at 30 June 2024
was $1.01. This slight reduction was due a provision for liquidation expenses
being made in relation to the commencement of the Company's managed wind-down.

 

Compulsory Redemption

The Company also announces its intention to return approximately US$23,033,221
to holders of Ordinary Shares by way of a compulsory redemption of 22,701,309
Ordinary Shares (the "Compulsory Redemption"), equal to approximately 25 per
cent of the Company's issued share capital as at the date of this
announcement.

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 for the Compulsory Redemption, at a redemption price  equal
to US$1.017 per Ordinary Share redeemed, being equivalent to the prevailing
NAV per Ordinary Share of $1.01, together with the accrued but unpaid dividend
of 0.7 cents per Ordinary Share declared today.

Further details of the Compulsory Redemption will be announced by the Company
in the near future.

Reuben Jeffery III, Chairman of RCOI commented:

 

"RCOI is pleased to declare a dividend of 0.7 cents in respect of the second
quarter of the current year, and its first proposed return of cash to
Shareholders since the commencement of its managed wind-down at the conclusion
of its Annual General Meeting on 22 May 2024 ."

For Riverstone Credit Opportunities Income Plc:

Adam
Weiss
                +1 212 271 2953

Media Contacts:

 Buchanan
 Helen Tarbet    Tel: +44 (0) 20 7466 5109

 Henry Wilson    Tel: +44 (0) 20 7466 5111

 Verity Parker   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.

 

As previously announced, on January 2, Riverstone Holdings LLC, and their
affiliate Riverstone Investment Group (collectively, "Riverstone") entered
into a sub management agreement for RCOI with Breakwall Capital LP.
Breakwall is an independent asset manager regulated by the SEC as a Registered
Investment Advisor. It is owned and operated by the former members of the
Riverstone Credit Partners team.

 

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

 

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