Tender Offer19 Oct 2018 13:25
Riverstone Energy Limited - Tender Offer
What is happening?
The Company has announced proposals for a Tender Offer to purchase up to £55 million in value of the issued Share Capital.
Riverstone Energy Limited Shareholders may elect to tender some or all of their Shares for repurchase by the Company, at a ‘Purchase Price’ to be determined. The Purchase Price will be the highest tender price per Share at which valid tenders are received in respect of an aggregate purchase price of up to £55 million. The Tender Offer is designed so that the Company pays the lowest price at which Shareholders are prepared to tender their Shares.
The Company is inviting Shareholders to tender (i.e. sell) some or all of their Shares at a minimum price which is not less than £12.00 or greater than £13.75 (in increments of 25p, e.g. £12.25, £12.50, £12.75 etc.). Shareholders can elect to tender Shares for sale at different prices or at the Purchase Price but all Shares successfully tendered will be purchased at the Purchase Price.
-- Is this a good or bad thing?
I wont be selling as I am at about break even at these levels