Riverstone Energy Share Discussion Threads

[baloo4] 19/8/2020 12:14

Company set to buy back £19m worth of shares so discount likely to narrow significantly. Share price already up today in anticipation.

[spectoacc] 19/8/2020 07:33

June 2019 NAV - £10.43/share
Dec 2019 NAV - £7.36/share
June 2020 NAV - £4.45/share

Well, they've reduced the discount at least. Just not in the way shareholders would like.

[baloo4] 13/8/2020 06:08

One of the best performing investment trusts of the past fortnight with a one third increase and that’s before the resumption of share buybacks which should begin at the end of next week.

[baloo4] 03/8/2020 22:57

Massive fall last week but company share buybacks due to resume in the second half of August.Simple mis-pricing by the market which has given a golden buying opportunity short term.

[apollocreed1] 03/8/2020 14:33

AVI global say that they sold out in May so the peak in May was 318, but they're disappointed because they bought in years ago and lost 75%

[apollocreed1] 03/8/2020 14:27

Highest riser in the FTSE All-Share is RSE. Up about 22%. On no news. What's going on and why so volatile? I sold out at 218 on Friday.

[spectoacc] 29/7/2020 20:43

Indeed - or not so much prevents, as looks like it'll probably happen, as gives a massive bonus for failure.

[apollocreed1] 29/7/2020 17:23

Looks decidedly crooked. Did you see the poison pill that prevents the company being wound up? Disgraceful!

hxxps://citywire.co.uk/investment-trust-insider/news/james-carthew-esg-riverstone-you-re-having-a-laugh/a1385123?ref=investment-trust-insider-comment-analysis-list

[spectoacc] 29/7/2020 16:12

Buyback was only buyer ;)

Presumably Enviva was planned all along, hence stopping it. Not sure I should comment on the director getting the chance to sell back to the co.

[spectoacc] 02/7/2020 06:59

Or - the co is basically the only buyer, and won't resume until August. :)

Must be some suspicion why they didn't leave the buyback running, on a non-discretionary basis.

[skyship] 01/7/2020 16:45

a 13% fall on what they say will be only a temporary interruption of the buybacks

[spectoacc] 29/5/2020 07:26

A 2m director sell, into the buyback, presumably to satisfy divorce terms. But how convenient there was a buyback to sell to.

[konkel] 11/5/2020 14:20

Buyback of AVI stake confirmed...£40m to go!!

[spectoacc] 08/5/2020 19:16

Thanks @konkel - Joe B will no doubt be glad to see the back of what's been a shocker for him!

Wonder if he had any influence on the return of capital being via buy-back?

[konkel] 08/5/2020 06:04

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!!

[rambutan2] 07/5/2020 21:17

That was AGT cutting its considerable losses and getting out. No doubt the board/management happy not to have them on board and causing problems.

[spectoacc] 07/5/2020 16:00

Good spot, over £9m, should put a dent in it.

[konkel] 07/5/2020 14:14

Print of 4m+ @231p....I presume this is a Company buyback.

[konkel] 06/5/2020 12:52

I reckon it's on a c.45% discount so plenty of upside still.

[spectoacc] 06/5/2020 09:08

Interesting that no further buybacks RNS'd as yet. Does that mean it quickly went back over whatever the current NAV is? Or are they (sensibly) waiting for it to tick back.

Either way - acquiring £50m RSE in the market would be quite a feat.

[spectoacc] 04/5/2020 08:22

+40% for 842 shares - have to agree!

[konkel] 04/5/2020 08:03

Just means it's gonna keep running :-)

[spectoacc] 04/5/2020 07:36

Got to laugh. They're after £50m:


Date of purchase:

01/05/20


Number of ordinary shares purchased:

842


Lowest price per share

161.40


Highest price per share

161.40


Trading venue

LSE


Aggregate volume per date per trading venue:

842


Weighted average price per day per trading venue:

161.40

[spectoacc] 01/5/2020 13:42

This rise is on the back of the frankly nuts share buy-back - who on earth wants capital returning, £50m in this case, via a price-uncapped buy-back?

Well - anyone who bought cheap I guess - but strewth. Could potentially drive it all the way to NAV.

"Return of Capital

As advised on 23 April, the Board and the Investment Manager were in discussions around the desirability and method of returning some of the Company's existing uninvested cash to Shareholders. The Board today announce that they are initiating a buyback programme with the intention of returning £50 million to shareholders via on market buybacks..."