Doc re. Early repayment of lo

RNS Number : 2977Y

Impax Asset Management Group plc

20 December 2010

 

Impax Asset Management Group plc

Early final payment from loan note expected to boost FY2010 pre-tax profits

London, 20 December 2010 - Impax Asset Management Group plc, ("Impax" or the "Company"), the AIM listed investment manager focused on the environmental sector, today announces that it has received USD 3.7m (approx GBP 2.4m) of final redemption proceeds (the "Proceeds") in respect of a secured loan note (the "Note") from All American Oil and Gas Incorporated ("AAOG").  The Note, which was payable in full on or before 31 July 2011, was issued to Impax by AAOG in July 2004 as part of AAOG's purchase of Impax's legacy oil operations.

The Proceeds represent approximately GBP 1.2m more than the book value of the Note on Impax's balance sheet, and the Company expects that a majority of this amount will be reflected in its pre-tax profits for the year ended 30th September 2010, which are to be released on 10th January 2011.

-Ends-

Enquiries:

Impax Asset Management Group plc

Keith Falconer, Chairman

Ian Simm, CEO                   020 7434 1122

Execution Noble

John Riddell                       0203 429 1426

Harry Stockdale

MHP Communications

Shona Prendergast             0207 786 4884         [e-mail]

                                      07798 626 284

Gay Collins                        0207 786 4882         [e-mail]

                                      07798 626 282

Notes to editors

Impax Asset Management Group plc (Impax):

Impax Asset Management is a leading specialist investment manager dedicated to the environmental sector. Founded in 1994, Impax manages a range of closed and open ended funds as well as segregated accounts on behalf of institutional and private investors.

Impax has a track record of delivering excellent returns across listed equity and private equity strategies. Key investment team members have been working together at Impax for over a decade and have spent the majority of their careers in the environmental sector.

Impax is a signatory to the UN Principles of Responsible Investment (UNPRI) and the Carbon Disclosure Project and is also a member of the Institutional Investors Group on Climate Change (IIGCC) and the Investor Network on Climate Risk (INCR).

 

END

 

 

DOCLLFFSFRLIFII