REL Board Changes

RNS Number : 2284Q

Riverstone Energy Limited

26 February 2016

 

26 February 2016

REL Board Changes

Riverstone Energy Limited ("REL" and the "Company") announces that Sir Robert Wilson, Chairman of the board of directors of the Company (the "Board"), has notified the Company that he does not intend to offer himself for re-election to the Board at its forthcoming annual general meeting on 19 May 2016. Sir Robert will accordingly step down from the Board at the conclusion of the meeting, though he will continue as an advisor to REL. James Hackett has also notified the Company that he does not intend to offer himself for re-election to the Board but he will continue in his roles as a Partner of Riverstone Holdings LLC and a member of its investment committee.

Sir Robert will be succeeded as Chairman by Richard Hayden, who has served on the Board since the Company's IPO in 2013 and is currently the Company's Senior Independent Director and Chair of the Company's Audit Committee. Richard Hayden will also succeed Sir Robert as Chairman of the Company's Nominations Committee and Management Engagement Committee. Patrick Firth will replace Richard Hayden as Chair of the Audit Committee and as the Company's Senior Independent Director.

Sir Robert Wilson, Chairman, said: "I have greatly enjoyed my tenure leading the REL board and believe that the portfolio that we have built over the last two and a half years should prove to be a stepping stone to enable the Company to fulfil the potential identified at the time of the IPO. I am delighted that Richard has agreed to succeed me in the role of Chairman. In addition to his considerable experience and personal qualities, his clear commitment to the interests of shareholders will contribute greatly to the future success of the Company."

Richard Hayden, Senior Independent Director, said: "The Company owes a huge debt of gratitude to Sir Robert and James for their contribution in establishing REL. The foundations they helped put in place will ensure that the Company remains well positioned to capitalise on future market opportunities."

- ENDS -

About Riverstone Energy Limited:

REL is a closed-ended investment company that invests exclusively in the global energy industry, with a particular focus on the exploration & production and midstream sectors.  The company is uniquely positioned to benefit from the large number of investment opportunities being driven by the North American energy revolution and the continued growth in global energy demand.  REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform.  REL is a member of the FTSE 250 and its ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE.  To date, REL has made 16 investments spanning conventional and unconventional oil and gas activities in the Gulf of Mexico, Continental U.S., Western Canada, the U.K. North Sea, the Norwegian Sea, Mexico and credit.

For further details, see www.RiverstoneREL.com

Media Contacts:

For Riverstone Energy Limited:

Alfredo Marti

[phone]

John Cosgrove

[phone]

Brunswick:

Robin Wrench

Rowan Brown

[phone]

 

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