Impax Group PLC
02 September 2005
Impax Group plc ('Impax') announces that its wholly owned subsidiary, Impax
Asset Management Ltd., has arranged a facility with Royal Bank of Scotland (the
'RBS facility') to bridge the capital calls for investors in the recently
launched Impax New Energy Investors LP (the 'New Energy Fund'). The RBS facility
is designed to delay the first drawdown of cash from investors for at least
three years, thereby enhancing the expected cash-to-cash returns for those
Impax also announces that it has committed to invest up to €3.75m (£2.57m) in
the New Energy Fund as part of the €60m first closing. With the RBS facility in
place, the Directors expect that the first call for cash for this investment
will be late in 2008 at the earliest.
More details on the New Energy Fund are contained in the announcement issued on
19 August 2005.
This information is provided by RNS
The company news service from the London Stock Exchange