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
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 -
