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LEI: 213800HAZOW1AWRSZR47
2 February 2026
Riverstone Energy Limited (the "Company" or "REL")
Completion of sale of investment in Onyx Power
Further to the Company's announcement on 21 October 2025, the Company is pleased to announce the completion of the sale of 100% of its interest in Onyx Power to ResInvest Group.
The Company has today received net sale cash proceeds of approximately €43 million, or $51 million based on the prevailing EUR/USD FX rate of 1.19. Inclusive of previously realised proceeds of approximately $121 million, this transaction represents a Gross MOIC of 2.88x on the Company's investment in Onyx Power of $60 million, which would reduce to 2.81x after the adjustment payment noted below.
Following completion of the sale and the adjustment payment noted below, the Company holds net cash of approximately $64 million or £47 million, based on the prevailing GBP/USD FX rate of 1.37. In accordance with the managed wind-down investment policy adopted by the Company on 22 August 2025, the Company expects to return a portion of this amount to shareholders, net of reasonable provisions for running costs in the expected managed wind-down period, by way of a pro rata compulsory redemption of ordinary shares. Further details will be announced by the Company shortly.
In accordance with the terms of its investment management agreement, an adjustment payment will shortly become payable from REL to RIGL Holdings, LP (the Company's investment manager) equal to 20 times one quarter of 1.5 per cent. of the Onyx Power sale proceeds, equal to approximately $3.8 million.
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: LPRelations@RiverstoneLLC.com
Deutsche Numis - Corporate Broker:
Hugh Jonathan
Matt Goss
+44 (0) 20 7260 1000
Ocorian Administration (Guernsey) Limited - Company Secretary:
Birgitte Horn
Riverstone Energy Limited (REL) announced on 2 February 2026 the completion of the sale of 100% of its interest in Onyx Power to ResInvest Group. The Company received net sale cash proceeds of approximately €43 million ($51 million), with the overall transaction representing a Gross MOIC of 2.88x on its $60 million investment, inclusive of approximately $121 million in previously realised proceeds. Following completion, REL holds net cash of approximately $64 million (£47 million), and an adjustment payment of approximately $3.8 million will be payable from REL to RIGL Holdings, LP.
| Date | 2 Feb 2026 |
| Time | 07:00:05 |
| Category | Disposals |
| ID | 1847R |