Impax Environmental Markets PLC Market Update (7573N)

TIDMIEM

RNS Number : 7573N

Impax Environmental Markets PLC

22 January 2019

Impax Environmental Markets plc

Market Update

Share Issuance

The Board of Directors of Impax Environmental Markets plc (the "Company") notes the strong price performance of the Company's shares for long periods of 2018, and the consequent material re-rating of the shares during the course of the year. This, in the Board's view, reflects both the growing recognition of the merits of the Company's environmental investment thesis, as well as the strong long-term credentials of the Investment Manager, who has been responsible for the Company's portfolio since the Company's launch in February 2002. Since late September, the shares have generally traded at a premium to net asset value; and in December, the Company issued shares out of treasury in order to satisfy demand that could not readily be met in the secondary market.

The Company has 45,448,109 Ordinary Shares in treasury and available for issuance. The Investment Manager will be undertaking a number of one-to-one marketing meetings with shareholders and potential investors over the coming weeks.

Premium and Discount Control

Given the potential for further share issuance, the Board recognises that existing shareholders and potential investors alike will welcome some clarification on its intentions regarding premium and discount management.

The Board therefore confirms that it remains committed to using its powers, including those to issue and buy back shares, in a proactive manner with the aim of seeing the shares, in normal market conditions, trading close to net asset value on a consistent and long-term basis.

Enquiries

Anthony Lee/Maria Matheou

   PraxisIFM Fund Services (UK) Limited                         020 7653 9690 

Dominic Waters

Will Barnett

Neil Brierley

   Canaccord Genuity                                                          020 7523 8000 

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January 22, 2019 04:41 ET (09:41 GMT)