Impax Asian Environmental Mkts Plc Shareholder entitlements (1929L)

TIDMIAEA TIDMIAES TIDMIAEB

RNS Number : 1929L

Impax Asian Environmental Mkts Plc

07 August 2013

Impax Asian Environmental Markets plc

(in Members' Voluntary Liquidation)

- Shareholder entitlements

7 August 2013

Terminal Asset Value

Under the terms of the Company's recommended scheme of reconstruction and voluntary winding-up (the "Proposals"), as summarised in its announcement of 4 July, entitlements of Reclassified Shareholders under the Proposals are calculated by reference to the Terminal Asset Value of the Company, being the total assets of the Company as at the close of business on the Calculation Date (2 August) less certain defined liabilities. The Terminal Asset Value per Share has now been calculated as 102.885 pence per Reclassified Share.

Shares with A Rights (Rollover Shares)

Holders of Reclassified Shares with A Rights (being those Shareholders who elected, or were deemed to have elected, to receive IAEMI Shares) will receive IAEMI Shares in accordance with the formula set out in paragraph 6.5 of the Terms and Conditions of the Scheme. This formula is calculated by reference to, inter alia, the value of the Transfer Portfolio on 7 August and the Rollover Price (being the net asset value per IAEMI Share as at close of business on 7 August). A further announcement will be made by the Company once the value of the Transfer Portfolio and the Rollover Price have each been determined, and the precise ratio by reference to which IAEMI Shares are to be issued is known.

Shares with B Rights (Cash Shares)

Holders of Reclassified Shares with B Rights (being those Shareholders who elected, or were deemed to have elected, to receive cash) will receive 102.885 pence for every Reclassified Share held. Despatch of cheques and crediting of CREST accounts in relation to elections for cash are expected to take place during the week commencing 12 August.

Subscription Shares

In accordance with paragraph 5.2 of the Terms and Conditions of the Scheme, the Liquidators will procure the payment to each holder of Subscription Shares an amount of cash calculated in accordance with Article 5(3)(h) of the Articles of Association, such amount being equal to 5.3375 pence per Subscription Share. Despatch of cheques in relation to such cash payments are expected to take place during the week commencing 12 August.

All terms capitalised but not defined herein shall have the meaning given to them in the Company's circular to Shareholders dated 4 July 2013.

Enquiries

   Allan McKenzie                                                                020 7490 4355 

Chairman

   Anthony Lee                                                                      020 7490 4355 

Cavendish Administration Limited

   David Yovichic                                                                   020 7523 8361 

Canaccord Genuity

Important Information

This Announcement has been issued by and is the sole responsibility of the Company.

No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Canaccord Genuity Limited ("Canaccord") or by any of its respective affiliates or agents as to or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.

This announcement and the information contained herein is not for publication, release or distribution, directly or indirectly, in or into the United States, Australia, Canada or Japan or any jurisdiction in which the same would be unlawful. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire shares in the capital of the Company in the United States, Australia, Canada or Japan or any jurisdiction in which such an offer or solicitation is unlawful.

Canaccord Genuity Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting for Impax Asian Environmental Markets plc and is acting for no-one else in connection with the Proposals.

This information is provided by RNS

The company news service from the London Stock Exchange

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