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QuotedData’s morning briefing 17 August 2022

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In QuotedData’s morning briefing 17 August 2022:

  • Riverstone Energy (RSE) has posted its interim results for the six months to 30 June 2022. During this time, the trust’s NAV increased by 22% in sterling terms and 10% in US dollar terms while its cash balance finished the period at $72m and remaining potential unfunded commitments of $10m. Since the initial announcement of the Share Buyback Programme on 1 May 2020, RSE has bought back a total of 27,182,444 ordinary shares at an average price of approximately £3.70 per ordinary share, which has contributed to the share price increase of around 203% from £2.20 to £6.66 over the period under review. The manager believes that the current market environment is generating attractive risk-reward investment opportunities in the energy transition and decarbonisation space. While the manager continues to pursue energy transition and decarbonisation assets, it also remains focused on managing liquidity and operational efficiency at RSE’s existing legacy portfolio companies.

1 thought on “QuotedData’s morning briefing 17 August 2022”

  1. By way of a suggestion, perhaps in any future article about Riverstone Energy, your analyst(s) could discuss why this company continues to trade at a huge discount to net asset value (about 40% at last count I think) despite the share buy back programme, the strength of commodity prices, the improved perfomance and the change of focus. Fund managers are often concerned if their fund has a large discount to n.a.v. but I am puzzled why Riverstone’s managers do not appear to see this as a significant issue.

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