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Riverstone Energy NAV falls 38% in 2020

By BFN News | 01:38 PM | Wednesday 24 February, 2021


The NAV of the Riverstone Energy trust fell 38% in 2020, from £7.36 per share to £4.55 by 31st December. The energy company investor suffered heavily from exposure to the oil market which crashed in 2020. Earlier in the year shareholders denied a discontinuation resolution vote the management board had tried to pass. As a result, in 2020 approximately $3.7 million in performance fees was not paid due to targets not being reached. Chairman Richard Hayden said: 'Given disappointing REL performance, challenges facing the energy markets for the last six years, and events in 2020, restoring Shareholder confidence in REL remains a priority. The company has conviction in the modified investment programme, though improving performance will take time.' At 1:38pm: (LON:REL) Relx PLC share price was 0p at 1771.5p Story provided by StockMarketWire.com

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