By Sean Farrell
Date: Tuesday 08 Feb 2022
LONDON (ShareCast) - (Sharecast News) - Riverstone Energy said it would buy back an extra £46m of shares after completing the C$53m (£31m) sale of its stake in Canada's Pipestone Energy.
The oil and gas explorer said it sold its position in Pipestone for C$4.55 a share and would use the £31m proceeds to make further investments in decarbonisation and energy transition alongside the increased buyback.
Riverstone has bought back 7.74 million shares since May 2021 at a cost of about £36m, with £4m of the planned repurchases remaining.
"The board and the investment manager have now agreed to allocate an additional £46m to the programme," Riverstone said.
The company will seek shareholder approval to buy up 14.99% of its shares at a general meeting. Riverstone shares rose 4.4% to 528p at 10:43 GMT.
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Currency | UK Pounds |
Share Price | 923.00p |
Change Today | 13.00p |
% Change | 1.43 % |
52 Week High | 992.00 |
52 Week Low | 514.00 |
Volume | 40,229 |
Shares Issued | 27.15m |
Market Cap | £250.58m |
Value |
---|
Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:07 | 535 @ 933.40p |
15:59 | 344 @ 936.00p |
14:59 | 10,000 @ 915.00p |
15:53 | 436 @ 936.00p |
15:44 | 467 @ 926.00p |
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