Results of the Annual General Meeting | Riverstone Energy Limited

RNS Number : 6511M

Riverstone Energy Limited

24 May 2022

LEI: 213800HAZOW1AWRSZR47

24 May 2022

RIVERSTONE ENERGY LIMITED

("REL" or the "Company")

Results of the Annual General Meeting ("AGM")

The Company is pleased to announce that, at the ninth AGM held at 10.30 a.m. (BST) on 24 May 2022, each of the Resolutions were duly passed without amendment.

The details of each resolution are as follows:

ORDINARY RESOLUTIONS

Resolution 1

IT WAS RESOLVED to receive and consider the annual audited financial statements of the Company for the year ended 31 December 2021.

For (including discretionary)	20,345,632 votes
Against	113 votes
Withheld	800 votes

Resolution 2

IT WAS RESOLVED to re-appoint Ernst & Young LLP (Guernsey) as Auditor.

For (including discretionary)	20,345,132 votes
Against	613 votes
Withheld	800 votes

Resolution 3

IT WAS RESOLVED that the Board of Directors determine the remuneration of the Auditor.

For (including discretionary)	20,345,132 votes
Against	613 votes
Withheld	800 votes

Resolution 4

IT WAS RESOLVED to re-elect Peter Barker as a director.

For (including discretionary)	20,252,183 votes
Against	93,562 votes
Withheld	800 votes

Resolution 5

IT WAS RESOLVED to re-elect Patrick Firth as a director.

For (including discretionary)	20,241,620 votes
Against	104,125 votes
Withheld	800 votes

Resolution 6

IT WAS RESOLVED to re-elect Richard Hayden as a director.

For (including discretionary)	20,240,096 votes
Against	105,648 votes
Withheld	801 votes

Resolution 7

IT WAS RESOLVED to re-elect Jeremy Thompson as a director.

For (including discretionary)	20,252,183 votes
Against	93,562 votes
Withheld	800 votes

Resolution 8

IT WAS RESOLVED to re-elect Claire Whittet as a director.

For (including discretionary)	20,212,845 votes
Against	132,900 votes
Withheld	800 votes

In accordance with LR 9.6.18, details of those resolutions passed, which were not ordinary business of the AGM, follow:-

Resolution	Votes For (including discretionary)	Votes Against	Votes Withheld*
9 - Special	20,345,132 votes	613 votes	800 votes
10 - Special	20,328,182 votes	17,563 votes	800 votes

*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.

Resolution 9

That the Company be and is hereby generally and unconditionally authorised in accordance with The Companies (Guernsey) Law, 2008,as amended (the "Companies Law") (subject to the Listing Rules made by the Financial Conduct Authority and all other applicable legislation and regulations), to make market acquisitions (as defined in the Companies Law) of each class of its shares (either for the retention as treasury shares for resale or transfer, or cancellation), PROVIDED THAT:

a. the maximum number of shares authorised to be purchased shall be 14.99 per cent. of the Ordinary Shares in issue as at the date of this Resolution 9 (excluding shares held in treasury);

b. the minimum price (exclusive of expenses) which may be paid for an Ordinary Share shall be one penny;

c. the maximum price which may be paid for an Ordinary Share is an amount equal to the higher of: (a) 105 per cent. of the average of the middle market quotations for an Ordinary Share on the relevant market for the five business days immediately preceding the date on which the Ordinary Share is purchased; and (b) the higher of (i) the price of the last independent trade for an Ordinary Share and (ii) the highest current independent bid for an Ordinary Share at the time of purchase; and

d. the authority hereby conferred shall expire at the next annual general meeting of the Company due to be held in 2023 unless such authority is varied, revoked or renewed prior to such date by a special resolution of the Company in a general meeting save that the Company may make an offer or agreement to acquire shares under this authority before its expiry which will or may be executed wholly or partly after its expiration and the Company may make an acquisition of shares pursuant to such an offer or agreement as if the authority had not expired.

Resolution 10

That, in accordance with Article 6.7 of the Articles, the Directors be empowered to allot and issue (or sell from treasury) equity securities (within the meaning of the Company's Articles) for cash on a non-preemptive basis as if Article 6.2 of the Articles did not apply to any such allotment and issue, provided that this power shall be limited to the allotment and issue of (i) up to a maximum number of equity securities equal to 5,398,652 Ordinary Shares in the Company (being 10 per cent. of the Ordinary Shares in issue as at the latest practicable date prior to the date of this notice)and (ii) an unlimited number of Ordinary Shares in accordance with the Performance Allocation Reinvestment Agreement dated 23 September 2013 between the Company and Riverstone Energy Limited Capital Partners, LP, acting by its general partner Riverstone Holdings II (Cayman) Ltd. ("RELCP"), pursuant to which RELCP agrees to reinvest the portion of each Performance Allocation (as defined and described in the IPO Prospectus) attributable to RELCP, and shall expire on the date falling 15 months after the date of passing of this Resolution 10 or the conclusion of the next annual general meeting of the Company in 2023 whichever is the earlier, save that the Company may before such expiry make offers or agreements which would or might require equity securities to be allotted and issued (or sold) after such expiry and the Directors may allot and issue (or sell from treasury) equity securities in pursuance of any such offer or agreement notwithstanding that the power conferred by this Resolution 10 has expired. This resolution revokes and replaces all unexercised authorities previously granted to the Directors to allot and issue equity securities in the capital of the Company for cash as if the pre-emption rights contained in Article 6.2 of the Articles did not apply to such allotment and issue but without prejudice to any allotment and issue of equity securities already made, offered or agreed to be made pursuant to such authorities.

About Riverstone Energy Limited:

REL is a closed-ended investment company that has since 2020 been exclusively focussed on pursuing and has committed $167 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 18 active investments spanning decarbonisation, oil and gas, renewable energy and power in the Continental U.S., Western Canada, Gulf of Mexico and Europe.

For further details, see 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

Administrator and Company Secretary

Ocorian Administration (Guernsey) Limited
Rosemary Osborne-Burns
+44 14 8174 2742

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