REG - Riverstone Energy Ld - Write down of investment in Anuvia Plant Nutrients

Riverstone EnergyAnnouncement

11/07/2023 07:00

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RNS Number : 5621F  Riverstone Energy Limited  11 July 2023

 

LEI: 213800HAZOW1AWRSZR47

 

11 July 2023

Riverstone Energy Limited

 

 

The Company has been informed that Anuvia Plant Nutrients, Inc. ("Anuvia"),
one of the Company's portfolio companies, has ceased operations and is
undergoing liquidation.  The Company invested US$20 million in Anuvia in
March 2022, with its investment being written down to US$14 million at the
time of the Company's Q1 2023 quarterly portfolio valuations.  Anuvia is in
the process of realising its assets and it is not yet certain if or when the
Company will recover any of its investment.  The Company anticipates that its
investment in Anuvia will be written down to US$0 in the Company's forthcoming
Q2 2023 quarterly portfolio update. Whilst the Series D Investors, including
the Company, are first equity in line to receive proceeds from Anuvia, the
Company's Investment Manager has informed the Board on 10 July that no such
proceeds can now be reasonably expected given the debt burden on the business.
Accordingly, the Board is releasing this statement forthwith.

 

 

About Riverstone Energy Limited:

 

REL is a closed-ended investment company which invests in the energy industry
that has since 2020 been exclusively focussed on pursuing and has committed
$193 million to a global strategy across decarbonisation sectors presented by
Riverstone's investment platform.  REL's ordinary shares are listed on the
London Stock Exchange, trading under the symbol RSE.  REL has 16 active
investments spanning decarbonisation, oil and gas, renewable energy and power
in the Continental U.S., Western Canada, Europe and Australia.

 

For further details, see www.RiverstoneREL.com (http://www.RiverstoneREL.com)

 

Neither the contents of Riverstone Energy Limited'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.

 

Media Contacts

For Riverstone Energy Limited:

 

Josh Prentice

+44 20 3206 6300

 

- THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION -

 

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