REG - Impax Environ Mkts - Results of General Meeting and Tender Offer Update

Impax Environmental MarketsAnnouncement

23/02/2026 14:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260223:nRSW0524Ua&default-theme=true

RNS Number : 0524U  Impax Environmental Markets PLC  23 February 2026

Legal Entity Identifier: 213800RAR6ZDJLZDND86

23 February 2026

Impax Environmental Markets PLC

Results of General Meeting and Tender Offer Update

On 16 January 2026, the Board of Impax Environmental Markets plc (the
"Company") announced that it would put forward proposals for the Company to
offer Eligible Shareholders a cash exit by way of a tender offer for up to 100
per cent. of their Shares in the Company at close to NAV per Share (the
"Continuation Tender Offer") and in the event that the Continuation Tender
Offer did not proceed that it would put forward a second tender offer, also
for up to 100 per cent. of the Company's share capital, to be approved by way
of an ordinary resolution (the "Exit Tender Offer"). On 26 January 2026 the
Company published a circular in connection with the proposed Continuation
Tender Offer.

The Company announces that the special resolution (the "Resolution") put
forward at its general meeting ("GM") held earlier today to approve the
Continuation Tender Offer was passed by shareholders.

However, the Board reiterates that the Continuation Tender Offer is
conditional on the election by Saba Capital Management, L.P. ("Saba") to
tender all or materially all of the ordinary shares in the Company to which it
is beneficially entitled. The Board notes that at the time of publication of
the circular, Saba had indicated that it may not support the Continuation
Tender Offer. The Board notes that it has no reason to believe Saba has
changed its position. A further update as to the Continuation Tender Offer
will be made on or around 27 February 2026.

The Resolution was voted on by way of a poll and the results are shown in the
table below:

 

 Resolution  In Favour / Discretionary     Against       Total votes cast (excluding withheld)  % of issued share capital (excluding Treasury shares)  Votes withheld
             Votes          %              Votes   %
 1           74,020,473     99.98          16,492  0.02  74,036,965                             38.88                                                  30,582

 

On a poll, shareholders are entitled to one vote per share and there are no
restrictions on those voting rights.  Where shareholders appointed the
Chairman of the GM as their proxy with discretion as to voting, their votes
were cast 'for' the Resolution and their shares have been included in the 'In
Favour/Discretionary' column.  A vote withheld is not a vote in law and is
not counted in the calculation of the proportion of votes 'for' and 'against'
the relevant Resolution.

On the record date for voting at the GM, the Company's issued share capital
was 305,623,539 ordinary shares. The Company was holding 115,212,960 of these
shares in Treasury. Therefore, the total number of ordinary shares with voting
rights in the Company was 190,410,579.

The results of the poll votes will shortly be available on the Company's
website at: www.iemplc.co.uk (http://www.iemplc.co.uk) . The Resolution will
also be made available on the National Storage Mechanism shortly. The full
text of the Resolution is contained in the Notice of General Meeting which was
published on 26 January 2026 (the "Circular").

The Circular is available for
viewing at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

Terms used but not defined in this announcement shall have the meanings given
to them in the Circular.

 

Enquiries:

Impax Environmental Markets PLC

Glen Suarez, Chairman, via Winterflood

+44 (0)20 3100 0000

 

 

Winterflood Securities Limited

Corporate Broker

Joe Winkley / Neil Morgan / Rose Ramsden

+44 (0)20 3100 0000

 

 

Camarco (media enquiries)

Billy Clegg / Jennifer Renwick

ImpaxEM@camarco.co.uk

+44(0)203 757 4980

 

 

Juniper Partners Limited

Corporate Secretary to Impax Environmental Markets plc

+44 (0)131 378 0500

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ROMPPUWAPUPQGWW



            Copyright 2019 Regulatory News Service, all rights reserved