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Impax Asset Mngmnt (IPX)

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Tuesday 09 October, 2018

Impax Asset Mngmnt

Related Party Transaction

RNS Number : 3499D
Impax Asset Management Group plc
09 October 2018
 

Impax Asset Management Group plc

 

Related Party Transaction

Introduction agreement

 

Impax Asset Management Group plc (the "Company") is pleased to announce that its subsidiary, Impax Asset Management Limited ("IAM"), has entered into an introduction agreement with Alfred Berg Kapitalförvaltning AB ("Alfred Berg"), a subsidiary of BNP Paribas Asset Management Holding ("BNPP") in relation to a new client that Alfred Berg has introduced to IAM. The introduction agreement provides inter alia for IAM to compensate Alfred Berg for services linked to the introduction (the "Transaction"). The fees payable by IAM to Alfred Berg, to be paid quarterly, shall be calculated as a percentage of the annual management fee IAM receives from the new client on rolling inflows.

BNPP has an ongoing distribution relationship with IAM and it is contemplated that in future BNPP and/or its subsidiaries will introduce additional clients to IAM.

As BNPP is a substantial shareholder of the Company as defined under the AIM Rules, and Alfred Berg is an associate of BNPP as defined under the AIM Rules, the entry into the Introduction Agreement constitutes a related party transaction under Rule 13 of the AIM Rules.

The independent directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Company's nominated adviser for the purposes of the AIM Rules, consider the terms of the Transaction to be fair and reasonable insofar as the Company's shareholders are concerned.  

Independent directors in relation to the matter are all of the directors of the Company except Arnaud de Servigny who is not considered independent because of his role as non-executive director at BNP Paribas Asset Management France.

LEI number:  213800AJDNW4S2B7E680

Enquiries:

Karen Wagg, Director of Communications                           Tel: +44 (0) 20 3912 3142

Impax Asset Management Group plc

[email protected] 

 

Ian Simm

Chief Executive                                                                       Tel: +44 (0) 20 3912 3000 (switchboard)

Impax Asset Management Group plc

7th floor, 30 Panton Street

London SW1Y 4AJ                                                             

www.impaxam.com

 

Gay Collins/Louis Supple

Montfort Communications                                                      Tel: + 44 (0) 207798 626282 + 44 (0) 20 3770 7914

[email protected]

Guy Wiehahn/Rishi Shah                                                        Tel: +44 (0) 20 7418 8893
Nominated Adviser and Broker
Peel Hunt LLP

 


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