Riverstone Energy Investors - RSE

Riverstone Energy Investors - RSE

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Stock Name Stock Symbol Market Stock Type
Riverstone Energy Limited RSE London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-6.00 -0.9% 662.00 09:09:20
Open Price Low Price High Price Close Price Previous Close
666.00 662.00 666.00 668.00
more quote information »
Industry Sector

Top Investor Posts

spooky: Think you will find RSE were the lead investor in an $80m fundraising. They did not invest $80m.
nimbo1: I was looking at this trust as an investment but won't be making one now - its crazy they've invested $80 million of the trusts money on behalf of investors in that high risk motor electrification project. 99.9% of these types of things fail. V high risk in my opinion and money would have been far better spent on buybacks. Of course now I've said this the venture will change the world.
cousinit: I did manage to sell a chunk at about 570 when it popped on Tuesday morning last week (bought back since when it subsided a bit). Other alternative is if it goes into run-off in such a way to reduce the management fees and the termination cost (especially as cornerstone investors look to have sold down recently?) but not sensing that's on the cards at this point. That would also hinge on the asset values being realistic!
apollocreed1: @HugePants - Thanks for that calculation. I was searching the RNS for that figure and thought it was strange they didn't highlight NAV per share which is the main statistic that investors want to see.
konkel: AVI the seller...Joe Bauendfreund normally a very astute investor. I guess he got this one wrong! The consequence of the buyback,of course, is that the management and other founding investors will end up having pretty much full control (they already own c.50%) so will be firmly in the driving seat. I'm hoping to ride this a bit longer then jump out before the buyback is complete...all best laid plans etc... lol!!
spectoacc: $135m of undrawn commitments tho (not expecting all to be drawn). Results to only 31st Dec could be largely ignored. I was trying to make sense of: "the Board expects a Discontinuation Resolution Vote EGM to take place in Q4 2020, as defined in the Prospectuses and Investment Management Agreement. For the vote to pass, it requires 75 per cent. of the votes cast in favour. The Investment Manager and Cornerstone Investors have 8.35 per cent. and 40.4 per cent., respectively, of the votes and can block approval. However, if the vote is passed, both the Investment Manager and Cornerstone Investors would share (83 per cent. / 17 per cent.) in the exit fee of twenty times the most recent quarterly Management Fee plus accrued performance fees, if any. If the Discontinuation Resolution Vote is not passed, the Investment Management Agreement will continue in perpetuity. However, both the Board and Shareholders aggregating 10 per cent. of the vote will still be able to call for an EGM to vote on a wind-up (75 per cent. of the votes cast in favour required) or a run-off (50 per cent. of the votes cast in favour required). In March 2020, the Investment Manager contacted one of the Cornerstone Investors regarding its voting intentions in respect of the Discontinuation Resolution, but did not receive a firm indication. No Cornerstone Investor has yet expressed how it would intend to vote on the Discontinuation Resolution Vote. As the direction of the EGM vote is not known at this time, there is a material uncertainty. The Board and Investment Manager remain highly focussed on working for our Shareholders, and I look forward to providing you with additional updates on progress over the course of the year." 20x the fee on wind-up??
sirrux: How ironic that they picked up most assets around $50 oil average? Well the oil price rose but their "cheap" assets just got cheaper. The investors' money, well that's in the pockets of high flying oil executives running loss-making oil cos and these guys managing it all for you - does that sound right?
lpavlou: The book value of castex stake was 15m usd. They had to give away some undrilled land to get it away but this didn't have any value in the books anyway. They are getting Talos shares instead of cash. Unfortunately investors have given up on the sector hence PE ratios have fallen dramatically and know one wants to invest in these assets. We are getting close to the bottom so a purchase now with a 5 year window should show a good gain. Don't expect any meaningful short term rise.
spectoacc: Been buying, tho significantly missed the bottom. But $2 on oil today due to Iran/US. Last NAV £7.47 I believe - perhaps the disposal shows its still around there and not being massively marked down further. Personally I think it's going lower - then up! Hate to be buying an old economy, oil/coal investor, but whilst renewables are the future, they're not the immediate future. Despite the discount, isn't screamingly cheap until the NAV falls reverse.
rambutan2: Hmmm. htTps://www.riverstonerel.com/investors/reports-and-presentations/
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