Results of General Meeting and Tender Offer Update

Impax Environmental Markets PLC

16 April 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED (UK MAR). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

For immediate release

Legal Entity Identifier: 213800RAR6ZDJLZDND86

16 April 2026 

Impax Environmental Markets plc

Results of General Meeting and Tender Offer Update

On 17 March 2026, the Board of Impax Environmental Markets plc (the Company) announced that it had published a circular in connection with the proposed Exit Tender Offer for up to 100% of the Company's share capital (the Circular). The intention to undertake the Exit Tender Offer in the event that the Continuation Tender Offer was not able to be completed was first announced on 16 January 2026.

The Company announces that the ordinary resolution (the Resolution) put forward at its general meeting (General Meeting) held earlier today to approve the Exit Tender Offer was passed by shareholders.

Elections for the Exit Tender Offer close at 1.00pm on 17 April 2026. A further update as to the results of the elections made under the Exit Tender Offer is expected to be made on or around 21 April 2026.

Glen Suarez, Chairman of the Company commented:

"Over 99% of IEM's shareholders today voted overwhelmingly in favour of the Exit Tender Offer which will give all our shareholders the opportunity to exit at close to NAV. While the Board firmly believes this is the right outcome, there will be no celebration of today's successful vote as the vast majority of shareholders have long supported IEM and its unique environmental markets mandate.

"Shareholders have until 1.00pm on 17 April 2026 to tender their shares, which may be the final opportunity to exit the Company at close to NAV. The Directors will be tendering all of their own shares.  

"Following completion of the Tender Offer, the Board will evaluate the Company's position and consider the most appropriate strategy to serve the interests of remaining shareholders."

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	87,796,578	99.97	30,663		0.03	87,827,241		46.13		30,860

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 General Meeting 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 General Meeting, 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. 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 is contained in the Circular published on 17 March 2026. 

The Circular is available for viewing at: 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

[phone]

Winterflood Securities Limited

Corporate Broker                

Joe Winkley / Neil Morgan / Rose Ramsden

[phone]

Camarco (media enquiries)
Billy Clegg / Jennifer Renwick
[e-mail] 

[phone]

Juniper Partners Limited

Corporate Secretary to Impax Environmental Markets plc

[phone]

Important information

The person responsible for arranging the release of this announcement on behalf of the Company is Juniper Partners Limited, the Company Secretary.

This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in any jurisdiction in which the same would be unlawful. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever. The full terms and conditions of any tender offers will be set out in a circular or circulars, which Shareholders are advised to read in full when published in due course. Any response to any tender offers should be made only on the basis of the information in the circular(s).

 

END