Final exercise of warrants

RNS Number : 7576N

Impax Environmental Markets PLC

17 June 2010

 



Impax Environmental Markets plc

17 June 2010

Final Exercise of Warrants

Impax Environmental Markets plc announces that on the subscription date of 15 June 2010, 14,158,825 Warrants were exercised in respect of 14,158,825 Ordinary Shares which will be allotted at a subscription price of 96p per Ordinary Share.

Application will be made to the UK Listing Authority and to the London Stock Exchange for the admission to the Official List and to trading of all of the above Ordinary Shares arising on exercise of the Warrants. Upon admission of such Ordinary Shares to the Official List and to trading on the London Stock Exchange, the Company's issued share capital will be 320,002,113 Ordinary Shares.  The Company is holding 1,853,037 of these shares in Treasury. Therefore, the total number of Ordinary Shares with voting rights in the Company will be 318,149,076.

A total of 4,507,260 Warrants have not been exercised. In accordance with the terms and conditions of the Warrants, the Company has appointed a trustee who, provided that in his opinion the net proceeds of sale after deduction of all costs and expenses incurred by him will exceed the costs of subscription, shall, on or before 29 June 2010, exercise all the rights which have not been exercised and sell the resulting Ordinary Shares for the benefit of the relevant Warrantholders. The trustee will then distribute the net proceeds to the persons entitled thereto by 14 August 2010, except for entitlements of less than £3.00 which will be transferred to the Company.

Application will also be made to the UK Listing Authority and to the London Stock Exchange for the admission to the Official List and to trading of any Ordinary Shares arising on the exercise of Warrants by the trustee as described above. A further announcement will be made by the Company in due course confirming whether the trustee has exercised such Warrants and updating details of the issued share capital and voting rights of the Company if appropriate.

Enquiries

Anthony Lee                                        020 7566 5495

Company Secretary

Cavendish Administration

Dominic Waters                                  020 7523 8473

Collins Stewart

Gay Collins                                          020 7786 4882 or 07798626282

Shona Prendergast                              020 7786 4884

[e-mail] 

Penrose Financial

 

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