The Board of Directors of Impax Environmental Markets plc (the
"Company") is pleased to announce that at an Extraordinary General
Meeting of the Company held earlier today the two resolutions
relating to the issue of C Shares (the "Issue") by way of a placing
and offer for subscription and authorising the Company to make market
purchases of its ordinary shares were approved by Shareholders.
The Issue has raised net proceeds of £64,845,000 for the Company.
57,888,380 C Shares have been allotted pursuant to the Placing and
8,111,620 C Shares have been allotted pursuant to the Offer for
Subscription, giving an aggregate of 66,000,000 C Shares allotted
pursuant to the Issue. Such allotment is conditional on admission to
the Official List and commencement of dealings in the C Shares on the
London Stock Exchange, which is expected to take place on 15 August
2006.
The net proceeds of the Issue and the investments made with them will
be accounted for and managed as a separate pool of assets until the
date on which 90 per cent. of the net proceeds have been invested.
Conversion of the C Shares into Ordinary Shares in the Company will
take place shortly thereafter.
14 August 2006
Enquiries:
Impax Asset Management Limited 020 7434 1122
Ian Simm
Bruce Jenkyn-Jones
Dresdner Kleinwort
Dominic Waters 020 7475 6688
David Yovichic 020 7475 7144
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