Replacement: Share Redemption & Dividend
Summary by AI BETAClose X
REPLACEMENT RNS: QUARTERLY DIVIDEND DECLARATION
The following amendments have been made to the "Quarterly Dividend Declaration" announcement released at 07:01:00 on 25 February 2026 under RNS No 2529U:
The declared distribution for the quarter ending 31 December 2025 was incorrectly stated as 0.011 cents per share and should be stated as 1.11 cents per share.
No further changes have been made, and the full amended text is below.
_____________________________________________________________________________________
25 February 2026
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
RIVERSTONE CREDIT OPPORTUNITIES INCOME PLC
("RCOI" or the "Company")
Compulsory Redemption of Shares and Quarterly Dividend Declaration
c.25 per cent of share capital to be redeemed
The Board is pleased to announce that it intends to return a further US$10,800,000 to holders of its ordinary shares of US$0.01 each in the capital of the Company (the "Ordinary Shares") by way of a third compulsory partial redemption of up to 12,134,831 Ordinary Shares (the "Compulsory Redemption"). The Company currently has 49,066,161 Ordinary Shares in issue (none of which are held in treasury).
Following this Compulsory Redemption, the Company will have cumulatively returned approximately US$ 50,633,190 to Shareholders since entering into managed wind-down on 22 May 2024, equal to 52 per cent. of the value of the Company's NAV at that time.
Approximately 25 per cent. of the Company's total issued share capital as at the date of this announcement will be redeemed pursuant to the Compulsory Redemption. The Compulsory Redemption will be effected pro rata to each Shareholder's registered holding of Ordinary Shares as at the close of business on the Redemption Date, being 30 March 2026 (the "Redemption Date"). Fractions of Ordinary Shares will not be redeemed and so the number of Ordinary Shares to be redeemed from each Shareholder will be rounded down to the nearest whole number of Ordinary Shares.
The Compulsory Redemption will be effected at a price per Ordinary Share equal to US$0.89 per Ordinary Share redeemed (the "Compulsory Redemption Price"), being equivalent to the 31 December 2025 NAV per Ordinary Share - the prevailing NAV per Ordinary Share on the Redemption Date. The Compulsory Redemption Price has been determined in accordance with the articles of association (the "Articles") and includes the nominal value of each redeemed Ordinary Share.
On the basis set out above, a holder of 10,000 Ordinary Shares would have 2,473 Ordinary Shares redeemed under the Compulsory Redemption, and would receive approximately US$2,201 in cash.
All of the Ordinary Shares redeemed on the Redemption Date will be cancelled and accordingly will thereafter be incapable of transfer by Shareholders or reissue by the Company.
The amount to be applied to the Compulsory Redemption of Ordinary Shares comprises monies arising from the repayment and realisation of the Company's investments. Following the payment of the proceeds of the Compulsory Redemption (and the payment of the payment of the Q4 2025 dividend referred to below), the Company will hold cash equal to approximately US$2,300,000.
In accordance with the Articles, the Company has today dispatched formal notices of redemption to Shareholders in respect of the Compulsory Redemption.
Shareholders should consult their independent professional adviser regarding the tax implications of the Compulsory Redemption for them.
Settlement
In the case of Ordinary Shares held in uncertificated form (that is, in CREST), the Compulsory Redemption will take effect automatically on the Redemption Date.
The existing Shares will be disabled in CREST after close of business on the Redemption Date and the existing ISIN GB00BP0R4J21 (the "Old ISIN") will be disabled.
The new ISIN GB00BRBWLX34 (the "New ISIN"), in respect of the remaining Shares which have not been redeemed, will be enabled and available for transactions from 8.00 a.m. on 31 March 2026. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.
In the case of Shares held in certificated form (that is, not in CREST), redemptions will take effect
automatically on the Redemption Date. Shareholders' existing Share certificates will be cancelled and new Share certificates will be issued to each such Shareholder for the balance of their shareholding after the Redemption Date.
Up to and including the Redemption Date, Ordinary Shares will continue to be traded under the Old ISIN and as such, a purchaser of such Ordinary Shares who was not on the register on the Redemption Date would have a market claim for a proportion of the redemption proceeds.
All Ordinary Shares that are redeemed will be cancelled with effect from the relevant Redemption Date. Accordingly, once redeemed, such Ordinary Shares will be incapable of transfer.
Payments of redemption monies are expected to be effected either through CREST (in the case of Shares held in uncertificated form) or by cheque (in the case of Shares held in certificated form) within 10 Business Days of the Redemption Date, or as soon as practicable thereafter. Shareholders will be paid their redemption proceeds in US dollars.
Declaration of quarterly dividend
In conjunction with the Compulsory Redemption, the Directors have declared a distribution for the quarter ending 31 December 2025 of 1.11 cents per share, payable on 27 March 2026 to holders of Ordinary Shares on the register at the close of business on 6 March 2026 (ex-distribution date is 5 March 2026).
Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts. In this case, whole of the quarterly dividend is treated as qualifying interest income.
The quarterly dividend due on each Ordinary Share will be paid prior to the Redemption Date1.
Expected Timetable
|
Notice of Compulsory Redemption despatched |
25 February 2026 |
|
Payment of Q4 2025 dividend |
27 March 2026 |
|
Redemption Date (and record date for the Compulsory Redemption) |
30 March 2026 |
|
Redemption Ex-date and new ISIN enabled |
31 March 2026 |
|
Redemption payment date (on or around) |
15 April 2026 |
__________
1 Shareholders should note that, although the dividend for the quarter ending 31 December 2025 will be paid before the Redemption Date, as determined in accordance with the Articles, the Redemption Price remains the prevailing NAV per Ordinary Share on the Redemption Date (being the NAV per Ordinary Share as at 31 December 2025 NAV) and is not adjusted in respect of the dividend payment.
For Riverstone Credit Opportunities Income Plc:
Catherine Carron +44 28 9693 0220
For J.P. Morgan Cazenove (Corporate Broker): +44 (0) 20 7742 4000
William Simmonds
Jade Lee
For further details, see https://www.riverstonecoi.com/.
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