REG - Riverstone Credit - Share Buyback Programme Initiated

Riverstone Credit Opportunities IncomeAnnouncement

30/06/2022 07:16

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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    Tel: +44 (0) 20 7466 5109
 Henry Wilson    Tel: +44 (0) 20 7466 5111
 Jon Krinks      Tel: +44 (0) 20 7466 5199
 Verity Parker   Tel: +44 (0) 20 7466 5197
                 Email:
                 rcoi@buchanan.uk.com (mailto: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/
(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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