Proxy Advisers in Favour of IEM Board Re‑election

Impax Environmental Markets PLC

10 June 2026

 

10 June 2026

Impax Environmental Markets PLC

Proxy Advisers Recommend Vote IN FAVOUR of IEM Board Re‑election and AGAINST Saba Resolutions

Impax Environmental Markets plc ("IEM" or the "Company") is pleased to note that leading independent proxy advisers have recommended that shareholders vote IN FAVOUR of the resolutions to re‑elect the current Board at the AGM on 17 June 2026, and AGAINST the Saba resolutions to remove the Board and replace it with Saba's nominees at the Requisitioned General Meeting to be held immediately after the AGM.

As outlined in full on 22 May 2026, the Board of IEM considers that continuing Shareholders deserve a truly independent and appropriately experienced Board that acts for all Shareholders. In the Board's view, the current Directors remain best placed to provide this. By contrast, a Saba‑nominated Board presents an uncertain outcome, with unknown Directors potentially subject to influence from Saba as the Company's largest Shareholder and the entity that nominated them.

The Board therefore reiterates its unanimous recommendation that Shareholders vote in favour of its re‑election and against Saba's resolutions to remove the Board.

How to Vote

Shareholders are encouraged to vote in advance of the Meetings. Votes may be submitted by completing and returning the relevant proxy form, online at www.investorcentre.co.uk/eproxy, or through CREST.

For the Annual General Meeting (AGM), the GREEN Form of Proxy must be received by no later than 10.45 a.m. on 15 June 2026.

For the Requisitioned General Meeting, the RED Form of Proxy must be received by no later than 11.00 a.m. on 15 June 2026.

The record time for entitlement to vote at both Meetings is 6.30 p.m. on 15 June 2026.

For shareholders holding their shares through an investor platform, voting deadlines may be as early as 10 June 2026, and shareholders are encouraged to contact their platform provider to confirm the relevant cut‑off times.

Glen Suarez, Chairman of Impax Environmental Markets plc, said:

"We welcome the recommendation from the leading proxy advisers, which supports the Board's clear view that Shareholders are best served by a truly independent and appropriately experienced Board acting in the interests of all Shareholders.

The Saba nominees have provided no meaningful information on their experience, intentions or plans for the Company, making it difficult for Shareholders to assess their suitability or the potential direction of the Company.

In light of this, the Board is unable to recommend the resolutions proposed by Saba for the appointment of its nominees and strongly encourages shareholders to vote in favour of the re‑election of each of the current Directors and against the Saba resolutions."

Enquiries:

Impax Environmental Markets PLC

Glen Suarez, Chairman, via Winterflood

[phone]

Juniper Partners Limited

Corporate Secretary to Impax Environmental Markets PLC

[phone]

Winterflood Securities Limited

Corporate Broker                

Joe Winkley / Neil Morgan / Rose Ramsden

[phone]

Camarco
Billy Clegg / Jennifer Renwick
[e-mail]
[phone]

 

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