Further to the announcement on 5 May 2026, the Board of Impax Environmental Markets has confirmed that all the assets in the Tender Pool have been fully realised. The Tender Pool Determination Date was 13 May 2026 and, as at that date, the Tender Pool Final Asset Value was £738,380,532 which results in a Tender Price of 494.761953 pence.
As the Tender Pool Final Asset Value was lower than the Company’s distributable reserves, all of the 148,202,139 Shares validly tendered will be accepted as Tender Exit Shares and will be repurchased by Winterflood.
Winterflood will, as principal, on the terms and subject to the conditions of the Exit Tender Offer, purchase the 148,202,139 Tender Exit Shares at the Tender Price in the market and then sell such Tender Exit Shares to the Company at the Tender Price in accordance with the Repurchase Agreement, with this expected to happen on or around 19 May 2026. All of the 148,202,139 Tender Exit Shares repurchased will be cancelled.
It is expected that payments in respect of Tender Exit Shares held in uncertificated form will be made in CREST on 22 May 2026 and that cheques will be dispatched on 22 May 2026 in respect of Tender Exit Shares held in certificated form.
Defined terms used in this announcement shall, unless the context requires otherwise, have the meanings ascribed to them in the circular to Shareholders published by the Company on 17 March 2026.
Impax Environmental Markets plc is a London-listed investment trust focused on environmental and resource-efficiency businesses.
The company invests in publicly traded companies around the world that provide products or services related to areas such as:
- Renewable and alternative energy
- Energy efficiency
- Water treatment and infrastructure
- Waste management and recycling
- Pollution control
- Sustainable food and agriculture
- Resource efficiency technologies
